For a while there, it seemed like you couldn’t throw a rock without hitting a news article about the effect that millennials were having on one market or another. In fact, the phrase got tossed around so much that it became difficult to know just who millennials even are. Well, we can solve that one. Millennials are the generation born between 1981 and 1996. You may not be surprised to learn that as members of this generation get older, millennials buying homes is having a major effect on the housing market.
When it comes to how millennials are changing the housing market, it all boils down to priorities. Many millennials are looking for a better blend of work-life balance and close proximity to work and play, including amenities and easy access to dining and shopping. These priorities are creating new opportunities for forward-looking communities such as The Highlands by Caldwell Communities to meet these evolving needs.
A Work Life Balance
Millennials have been the first generation to enter the workforce with the advantage of technology that enables them to work remotely with ease. They are excited about utilizing these new capabilities to create a better work-life balance. Most of the millennials are at a stage in their lives where they are getting married, buying homes, and having children, while simultaneously dealing with increasing work demands that often require them to work round the clock. As a result, when millennials are transitioning into the next phase of their lives, they seek a setting where they can blend their work and everyday stresses into a wholesome home and community environment.
The Highlands is a serene community that finds its inspiration from the beauty of nature. It offers a tranquil environment and much more. With miles of trails, recreational lakes, a dedicated dog park, and ample green space to explore, residents can revel in the joy of being away from work while having the convenience of being just a few steps away from their home office.
Millennials Want Affordable and Flexible Living Spaces
Affordability is a critical factor for millennials, many of whom are first-time homebuyers. This rising demand for smaller and more efficient living spaces is coupled with an increased flexibility offered by remote work, especially in the last few years. Because many millennials have jobs that they can do from anywhere, they have more options for where to live, which impacts housing trends in the outer suburbs—and everywhere else.
Technology and the Home-Buying Process
Most millennials grew up with the internet as a regular part of their daily life, and this digitally savvy generation utilizes technology heavily in their shopping habits. That includes buying a house. From online research to virtual tours, most millennials will at least begin their home-buying journey online. Even those who do ultimately go with a realtor often choose realtors with an enhanced online presence and digital tools. It may be no surprise, then, that this tech-savvy group also expects technology to play a role in their home life, as well.
Sustainable and Smart Homes
Millennials have high expectations for technology and are more likely to seek homes that incorporate smart home technology or can be easily upgraded to do so. This includes having a home automation system that can perform regular household tasks such as turning on TVs, lights, heaters, air conditioners, and more. These actions can typically be controlled through smartphone apps or virtual assistants such as Alexa or Google Assistant. It doesn’t end there. Sustainability is also key, energy-efficient appliances and “green” building materials are often must-haves for millennials buying homes. Because these features can be deal-breakers for so many millennials, developers are making strides to incorporate more sustainable practices and smart technology into new-home construction.
With a variety of floor plans, price points, and proximity to shopping, dining, and employment hubs, The Highlands is uniquely positioned to meet the preferences of a burgeoning generation of millennial home buyers. Our embrace of technology, luxury, and lifestyle makes this a prime destination, while our ideal setting near Houston, Texas is perfect for those looking to invest in their putting down roots, whether it be your first home or third.
To learn more about The Highlands and experience our more than 4,000 homes from 13 award-winning builders, fill out the contact form below and let us introduce you to the home of your dreams today!