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Millennials Jam Workshop: Youth and ICTs beyond 2015

What Millenials Want in Homeownership

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With millenials quickly becoming the largest generation in the United States, they have begun to command more and more of the housing market. Naturally, this has lead to the question, “What do millenials want when it come to homeownership?” KTGY Group, a California based architecture and planning firm, conducted a survey of their millennial employees to find the answer to this question.

As reported by Professional Builder, almost three quarter of the participants in KTGY’s discussion are currently renting, but nearly all of them wanted to own a home in the near future.

Close proximity to gyms, parks, tennis courts and other venues that encourage fitness and exercise plays a important factor in where millenials are choosing to live, says Professional Builder. Communities are also very important. “Millenials want to live in a place where they can meet others with similar interests and desires.”

Not surprisingly, millenials place a great amount of value in technology. Many shopping the housing market are expecting high tech and energy effect homes.

Millennials prefer living pet-friendly places. “For those who live in pedestrian-friendly cities, apartment complexes, or neighborhoods, pets have become like children. More millennials in the KTGY focus group had pets than had children.” Reports Professional Builder.

Although participants in HTGY’s survey stated they were interested in modern design, they lean more toward a “Modern Traditional” style – bright spaces, high ceilings and neutral stylings. Authenticity and creativity is key.

The item holding the most importance in the minds of the millenials surveyed by KTGY was affordability, says Professional Builder. KTGY found that millennials are willing to live in a smaller house with more functional layouts.