Millennial home buyers (those born between 1981 and 1996) are becoming major players in luxury home buying. Millennials represented the biggest group of buyers (37 %) according to the National Association of REALTORS®’ 2019 Home Buyers and Sellers Generational Trends Report and while many came of age during the recession and postponed purchasing their first home, they are very active in today's real estate market. Not only do Millennials now make up the largest demographic of home buyers, but there are some consistent amenities this generation is looking for in their new homes that separates them from previous generations.

Eco-Conscious: Many Millennials are looking for homes that use green energy and have a lower environmental impact. Solar power, energy efficient lighting, quality insulation, water saving features, and energy efficient appliances and systems are important for energy-conscious home buyers. 

Spacious Kitchen: While Gen Xers and Baby Boomers typically prefer a designated dining room, Millennial buyers tend toward large, open kitchens where the dining and living areas are connected. Fans of the open floor plan, Millennial buyers prefer open spaces for entertaining and the kitchen island is often a major selling point. Luxury kitchen amenities might include two large sinks, an oversized refrigerator, two dishwashers and an extra large pantry. Complete outdoor kitchens are also very popular among Millennial buyers. 

Wellness Amenities: Luxury Millennial home buyers are looking for homes that include amenities that benefit their mental and physical wellness. Homes that include a dedicated gym, yoga studio, meditation room, sauna, or tranquility garden, appeal to luxury buyers who want amenities in their homes to help keep them centered. 

Location, Location, Location: Much like previous generations, proximity to work, parks, schools, etc. is a major consideration for Millennial home buyers. Luxury buyers desire privacy and exclusivity. Homes with a gated drive, completely private outdoor living space, and expansive yard will appeal to luxury buyers. 

Natural Elements: Using nature in home designs and decor is nothing new. Millennial buyers like natural elements like cotton, seagrass, and stone to be used as design elements throughout the home. Stone or wood walls, lots of natural light, and locally sourced building materials all appeal to buyers. 

Character Counts: Millennial buyers looking for luxury notice specialty features. A grand foyer, stately staircase, or striking fireplace can make a home stand out from the rest, and that is exactly what luxury buyers are seeking. 

Smart Technology: Today's homebuyers expect current technology in their homes. Wireless home automation systems, video doorbells, smart locks, smart thermostats, built in blue tooth speakers, and smart security features are all important features to Millennial home buyers. 

Spa-Like Bathrooms: Wellness amenities continue into the bathrooms of luxury homeowners. Massive showers with head to toe shower jets, towel warmers, in floor radiant heat, built in blue tooth speakers, soaker tubs, picture windows, soothing colors, and natural design elements all create a spa retreat feeling. 

If you are a home buyer looking to find that perfect luxury home in Northern Nevada, please reach out. We are specialists in the most exclusive neighborhoods in Reno-Sparks and it would be an honor to assist you however we can. If you are planning to sell your luxury home and would like a custom, complimentary home valuation to see what your home is worth in today's market, we will be happy to help. 

Learn more about the Reno-Sparks real estate market or Incline Village real estate market or call Sallan Real Estate at 775-453-4568.

Posted by Jeff Sallan on
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