Archive of: millenials

  • Millennials Spend on Home Remodeling

    Posted on May 21 2017


    CNBC reports that millennials are among the top groups of people increasing the money spent on home remodeling projects. While the oldest homeowners are still the largest spending group, millenials are quickly coming in second with a seven percent increase in average money spent to remodel a home for an average of more than $26,000 a year. Surprisingly, a first-time buyer often spends nearly $34,000 renovating a residential property.

    Where is the money coming from for new construction and rehab projects? Typically property owners use the equity in the home and other items like bonds, stocks, and vehicles to access the necessary money to complete home projects. Millennials are not going this route with most of them using credit cards. Houzz conducted a survey of more than 100,000 participants finding that spending since 2004 has gradually increased year after year. CNBC says that this is a signal to the rest of the country that the housing market has rebounded nicely since the recession, and they claim that the current spending rates are comparable to those of pre-recession numbers.

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  • What Millenials Want in Real Estate

    Posted on April 29 2016


    Rustic-tech is the new trend among millennials. There is not a large market for ultra-modern homes. Most young homeowners prefer a home that has a mix of traditional and contemporary style. The current design trends might seem like a contradiction, but millennials love combining natural materials and modern technology.

    Combining Old and New Barn doors are common millenial design trends, and some homeowners are using the doors to define space. A rustic door in a sleek kitchen can give a home the perfect blend of old and new. Wood cabinets and stainless steel appliances are also trending. Dark cabinets contrasting light countertops are popular options. In other areas of the home, colorful LED lights are replacing traditional lights. It is common to see red and blue lights in kitchens, bathrooms and fireplaces. New toilets and showers have built-in LED lights.

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