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HOW YOUNG BUYERS ARE REDEFINING "LUXURY"

Updated: Jan 6



Many millennials are showing interest in high-end homes, but their property wish lists may look different than those of typical wealthy house hunters.


Less space, more functionality. Millennials are forgoing larger houses, choosing smaller luxury homes that make smart use of space and are filled with high-end amenities and furnishings. Some of the most in-demand features include open-concept living areas with plush living rooms and showcase kitchens, spa-like bathrooms, and multiuse rooms. Millennials desire functional layouts for entertaining and the flexibility to alter spaces to fit their needs, such as a yoga studio that can be converted into a bedroom for overnight guests.


A portal to the Internet of Things. Constant connectedness, both personally and professionally, has become the norm for millennials. Fast internet access for telecommuters who work from home is a must. Another characteristic of the daily lives of millennials is to create a smart home filled with connected devices. This can include smart appliances, speakers, thermostats, and security systems, as well as networked audio systems for the entire house and voice-controlled lighting.


Green features. Millennials care about preserving the environment—and saving money in the process. Features they are interested in include solar panels, indoor air purification systems, geothermal energy systems, and tankless water heaters.


Greater commuting options. As millennials flock to urban areas, walkability and proximity to public transportation are highly sought attributes. Many millennials are interested in living in neighborhoods where they can mingle with like-minded individuals and stroll to local amenities like restaurants, community gathering areas, and entertainment.


Indoor and outdoor living spaces. Millennials want the option to stretch their living areas beyond the walls of their homes to include outdoor spaces.


If you are one of these millennials, and even if you're not, you know that you can trust us to find exactly what you're looking for. We can not only find you the perfect house but we can help you design + renovate it to suit your exact needs. Just give us a call at: 630.280.9378 or send us an email to Info@LandLhome.com




Source: Excerpts from Realtor Magazine by Jeff Lottmann

Laura Flynn, Real Estate Broker

Coldwell Banker

Downers Grove, IL

5114 Main Street

Real estate agents affiliated with Coldwell Banker are independent contractor sales associates and are not employees of the company.

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