Let’s explore the Millennial home, but wait, who are Millennials? The Millennial generation, also often known as Generation Y is the next biggest living generation, surpassing their predecessor, Generation X. This generation is defined by those who were born between 1981 and 1996. This generation is the first generation to experience the birth of the technology age which has an impact on their preferences in a new home. Millennials are in their prime house-buying years and some are choosing to build to get exactly what they want in a home by building new. Read below to see the trends we are seeing with this next up-and-coming market of new home buyers.
Millennials Want Smaller Homes
Millennials want smaller homes than their parents, that is a fact. Here at Davis Frame, many Millennials we work with want floor plans with 2,000 SF or less. This generation values quality over size and would rather focus on building better quality homes. They don’t want the larger homes that come with upkeep and maintenance. Millennials want their floor plan to work smarter in a smaller footprint. Designing a smaller home doesn’t imply cramped space, in fact, many of our small home floor plans live “large” with an open floor plan.
Millennial lives are also busy with both homeowners now working outside of the home and many add kids on top of it make life more chaotic. This generation does not spend as much time at home as previous generations. They enjoy experiences and are more active outside of the home with their recreational activities as well as their kid’s activities. If they can fit all their needs into a smaller footprint and the upkeep is less, it’s a win. The younger generation today does not want to live for their house, they value experiences.
Another reason they want a smaller home? This generation has record levels of student loan debt often limiting their funds to put into a new or existing home.
They Want An Open Floor Plan
One huge trend in new home design is to include an open floor plan. This is a big want for many generations but is a must for the Millennial generation. Because of chaotic schedules and managing work/life balance, Millennials prefer their main living spaces to be open to one another. It allows a space to be flexible to meet their ever-changing needs. Parents can also engage with their kids while they are cooking dinner or visit with friends at the dining room table while their kids play in the living room. An open floor plan can also make a home feel much larger than it actually is. Check out some of our timber frame plans most offer open floor plans.
Quality is Important
As mentioned previously, the Millennial generation values quality products such as energy-efficient fixtures and high-end appliances. They will invest upfront if the product will perform better and last longer. Quality over quantity of space is much more important to them when comparing to previous generations building new homes. They also appreciate clean lines and a minimalistic approach when it comes to the design of their home.
Millennials Value Energy-Efficiency
Millennials value energy efficiency and will spend more on insulating their new home so that over the long run it performs better and keeps their utility bills in check. Not only is insulation important, but they are also interested in high-performance windows and efficient heating systems. Most Millennials are planning to live in their new home for the long term, many planning for it to be their forever home. At Davis Frame Company, we offer Structural Insulated Panels (SIPS) with our timber frame packages, making our homes one of the most energy-efficient homes on the market today. The beauty of our timber frame homes that are wrapped in SIPS is a big reason why many Millennials decide to work with us.
Flex Space is a Must
At Davis Frame, we are seeing many younger generation homeowners wanting to add flex space to their home. Having a space that can easily transcend into an office, playroom or even an additional bedroom for guests is important. Again, this generation is looking to build a smaller home, but also realizes that life changes and they like the idea of flexible spaces. Because most of our timber frame homes offer loft space on the second floor, this is a big draw for this generation. It offers great flex space without adding to the footprint of a home.
A Smart Home is a Must
Millennials grew up in the early years of technology and are now fully engrossed in technology and it is part of their daily lives. Many of them remember the early days of the internet, including receiving AOL disks in the mail to “go online” and dial-up connections. In fact, this generation is more tech-savvy than any generation before them. Millennials literally grew up with the internet and have seen how it has evolved since the beginning.
With many Millennial homeowners influenced by their technology-based upbringing, they are planning to use the latest technology to create a “Smart” home. This includes using thermostats (like Google’s Nest) and lighting your phone can control. Appliance companies are also adding features to allow your phone to control your appliances. We are also seeing clients adding charging stations to different areas of the home, including in drawers and cabinets in the kitchen where cords can be hidden. Some homeowners are forgoing this type of charging station and adding outlets that feature a USB plug. Whichever you prefer, it’s a definite must in any Millennial home new or old. Young families today also value indoor cameras so they can watch their children while they are cooking or doing chores around the house. It allows them to multitask while their child is playing in the other room.
Interested in learning more about Davis Frame Homes? Call us today at 800.636.0993.