Millennial Home Preferences Survey Results
Dwell Magazine recently posted an article to their website publishing survey data on Millennial home buyer preferences, which was conducted by Ketchum Global Research and Analytics. I found the results to be both interesting and validating in the way many responses aligned with my own personal observations and research on the topic. Here is a link to that article, and below are 5 takeaways as they relate to the Starter Home 2.0 project.
Takeaway #1: The survey found that outdoor space was the top request in terms of home features, which bodes well for the Starter Home 2.0 Oakley project that features a front porch, rear deck, and 2nd floor roof terrace above the garage for a variety of outdoor living arrangements.
Takeaway #2: Despite common beliefs that Millennials prefer urban settings, 53% of those surveyed cited suburban environments as their top choice, suggesting that there are aspects of both settings that Millennial home buyers find appealing. The Starter Home 2.0 project sites in Cincinnati's first ring suburbs of Pleasant Ridge and Oakley are a nice middle ground with the walkability of urban neighborhoods, as well as the privacy of more suburban areas with back yards, garages, etc.
Takeaway #3: 71% of the surveyed group expressed a desire to have a customizable house that could change to suit their needs over time. This is central to the mission of the Starter Home 2.0 project, which provides a home that is comfortable for single living, but also has the flexibility with 3 bedrooms and 2-1/2 baths (and the ability to convert to 4 bedrooms and 3-1/2 baths) to meet the needs of growing families.
Takeaway #4: After outdoor living, an open-plan kitchen was the second highest requirement that Millennials listed in the survey, which is standard practice for all Starter Home 2.0 projects, where the kitchen is the heart of the living space.
Takeaway #5: Interestingly, smart tech was lower on the priority list, with 48% considering it important, while quality construction was key for 86%, along with the home being low maintenance (76%). Added measures in the Starter Home 2.0 project like making use of James Hardie Color Plus technology (which eliminates the need to repaint the exterior of the house) and having highly durable and cleanable flooring finishes throughout, help ensure the house will stand the test of time with minimal required maintenance.
