5 Ways Millennials are Changing the Housing Market

Like it or not, millennials are next in line to shift the housing market. And, to no surprise, there are some distinct differences between millennials' housing market practices and their parents - the baby boomers and the X generation.

Millennials are prepared for housing prices to rise. Unlike their older counterparts, 86% of millennials believe that housing prices will rise within the next year.

Millennials aren't so concerned about the pricetag of that dream home. Despite believing prices are only going up, millennials expressed that in 10 years they'll still be able to afford the pricey homes they're living in.

Millennials are less tied down. Moving from house-to-house is a norm in the mind of the younger generation, and most believe they'll be leaving their current home within the next 5 years.

Millennials are more likely to have more valuable homes in the future. They're getting some of the lowest loan costs in modern history, and this will make an impact on how attached they get to that first "starter home."

Millennials are heading towards the real estate business. They're more likely to buy up properties and rent to non-homeowners. In fact, 28% of them say they plan to rent out their existing home someday rather than selling it.

Sources

https://www.redfin.com/blog/2016/05/5-ways-millennial-homeowners-are-different-and-what-it-means-for-housing.html

Comments

Hamilton Building Services' Kitchen and Bath Department

Hamilton Building Services not only provides materials for new home construction projects, but we also have an in-house kitchen and bath designer. If you're looking for a renovation this spring, our designer can provide you with gorgeous photo-realistic renderings of your space. Selecting hard ward, lighting, plumbing, counter tops, and flooring is so easy when you have a complete, interactive 360 degree view of the space, which can be provided. Never has the design process for a kitchen or bath remodel been this easy. Gone are the days of hand drawing what you want yourself, and heading out to a big box store and hoping they have the exact thing you're looking for. Get exactly what you want by working with Hamilton Building Services and making the remodel process easier than ever.

Light Up Your Kitchen

You can have the most beautiful kitchen in the world, but if it's poorly lit, you'd never know - what a shame! Avoid this common problem by installing appropriate lighting in your kitchen and dining area. There are two questions to ask yourself when you're adding lighting in to your kitchen: what kind of lighting will I choose, and where will I decide the lighting should be? Get some inspiration for your lights, below. Image via www.bestofdiyideas.com Image via www.homebunch.com Image via www.doctorkish.com Image via www.wayfair.com

Things are looking up!

When it comes to different types of ceilings, there is a lot to choose from. If you're like most people, you think of the standard drop ceiling that we're used to seeing in many homes is the only option. That kind of thinking couldn't be further from the truth! If you're considering switching things up with your new home, check out this post to brainstorm some ideas for a new ceiling. Vaulted A vaulted ceiling makes a room feel bigger without actually being bigger. The walls are at a slope, meeting at one point at the very top, center point of the ceiling. Image via www.imbrandon.com Exposed Beams Exposed beam ceilings are just what they say they are - exposed beam. Seeing the beams of the house in plain sight can create a rustic feel or simply add symmetry to the room's ambiance. Either way, they are aesthetically pleasing to the eye. Image via www.decorpad.com Coffered Coffered ceilings can differ in design, but they remain to b...

Hamilton Building Services

Search This Blog