It’s common knowledge that Millennials have become a major factor in the real estate market and are willing to move away from busy urban hubs, but, as the generation of disruptors, it should come as no surprise that they’re doing it their own way. Rather than opting for move-in-ready homes, Millennials are willing to spend about 20 percent of their housing budget on renovations, including upgrades such as open living spaces, updated kitchen designs and even outdoor pizza ovens.
For designers and remodelers, this is a sign that the largest segment of homebuyers will be in need of assistance in thoughtfully budgeting renovations into their overall plan to create their dream homes. Investing in quality, sustainability and outdoor space are among their top priorities.
The key to all these demands is customization. Millennials have come to expect living environments that meet their specific design needs and combine the best elements of urban and suburban living under one roof. In a recent survey conducted by BUILDER, the TRI Pointe Group and Ketchum Global Research and Analytics, a majority of Millennial homebuyers stated that a modern design with an open floor plan is somewhat or very important. More than half of those surveyed even noted that an open kitchen is a must-have.
Quiet kitchen appliances are ideal to meet the demand for open floor plans. For example, the Jenn-Air TriFecta Dishwasher, which operates at only 40 decibels, is as quiet as a typical library. It won’t disrupt occupants watching television or enjoying a meal nearby, even in an open floor plan without any wall barriers.
Millennials are also generally more daring with appliance colors and finishes, which makes stunning color options such as the KitchenAid black stainless an ideal design choice to accent the rest of the living space.
Moreover, 76 percent of Millennials surveyed thought it was somewhat or very important for their home to be low maintenance. Young homebuyers are willing to initially make renovations as an investment, but don’t want to have to fix and update appliances and fixtures on a regular basis. That is why relying on dependable appliances, such as Maytag brand products that are durable with fingerprint-resistant stainless steel and commercial-grade components, would be an important consideration for remodelers.
Appliances must have compelling features and be aesthetically pleasing for the new generation of homebuyers. Remodelers will benefit from including appliances from Whirlpool Corp., which has brands to suit a variety of tastes and income levels.