The majority of young adults want to purchase their own home, preferably a smart home. They want technology customized to their own needs. They believe technology makes a home safer, healthier, more efficient, saves them time, and is a good investment.
(Home sellers, real estate agents, home improvement specialists, and marketers: how can you use this information to help increase your business?)
Generation Y, more than their parents or grandparents, believes that their home is a statement about themselves; thus, personalization is important.
Indoor decoration is prioritized over outdoor. However, for the outdoor space, 77 percent said their wish is for it to be “a relaxing retreat.” Outdoor living and entertaining is important.
Of those who are home owners, 13 percent are currently creating a home office, and 15 percent are adding more storage.
Also interesting, there are four items that this generation does not want. They are laminate countertops, a wet bar, a wine cellar, and an elevator. (So don’t try to impress them with those.)
Compared to the older generation, they are more willing to pay top dollar for high quality products. However, 60 percent said they are willing to compromise in order to save money.
I would be interested in hearing your thoughts on this topic. Click on Leave a Comment, right under the headline.
Survey Source: Street Insider