Cashing in on the millennial homeowner has been a focus for businesses everywhere, which includes remodelers. However, with student loan debts and high unemployment, millennials are slow to enter the housing market. In turn, millennials are less likely to invest in remodeling their homes. REMODELING Magazine’s sister magazine, BUILDER, along with TRI Pointe Group and Ketchum Global Research & Analytics, took a look into what young homebuyers are looking for in a home. 

Ketchum’s survey of 503 people ages 25 to 34 included 203 current homeowners and 300 individuals who plan to buy a house within 12 months. Among the chief findings were the age group’s interest in maximizing space and customizing and personalizing their homes. The study found that millennials gravitate toward homes with urban conveniences in suburban settings, plentiful outdoor space, and customizable floor plans. Living within walking distance to parks and schools and a sense of community also are high priorities.

Out of this research, the BUILDER Responsive Home project’s two homes premiered at the International Builders’ Show this week providing “inspiration, guidance, and insight for today’s home builders." Using this data, remodelers can pinpoint the ways they can tap into the millennial market. 

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