Millennials say yes to extra space – patios and garage storage – but say no to wine cellars, golf courses, and pet washing stations. And for please sake, don’t show them homes with the only shower stall in the master bath!
Those are just a few of the findings of a massive survey looking at which home features Millennials prefer. The National Association of Home Builder Economics team asked Millennials to rate and rank 175 of them.
The survey used a four-tier scale:
- Essential: Unlikely to buy a home without feature
- Desirable: Seriously influenced to buy home if included
- Indifferent: Would not influence purchase decision
- Do Not Want: Not likely to buy a home with feature
The No. 1 feature: the laundry room. That’s what 86% of Millennials said they want. NAHB says other top features include a walk-in pantry, exterior lighting, a front porch and table space for eating.
Millennials also are showing they don’t want the same things that their Boomer parents do. According to the survey, the Top 10 list of Millennial preferences differed from both Baby Boomers and Seniors.
The Top 10 Boomer list of preferred housing features did not include a walk-in pantry, front porch, table space for eating or a double sink, but made the Millennials Top 10 list.
Seniors did not have hardwood front exterior, walk-in pantry, front porch and table space for eating among their 10 most-wanted features.
We also now know what Millennials don’t want – elevators. Almost half of Millennials (47%) selected elevators as the feature that they are least likely to want in their homes. Are they fearful of mom and/or dad moving back in with them?
Making their Top 5 list of least wanted features: cork flooring in the main living spaces (33%), wine cellars (32%), laminate countertops (30%) and, wait for it – golf courses (30%)!
Finally, NAHB notes Millennials have changed their outlook on the bedroom make-up of a new home. Last year’s survey shows 80% of Millennials wanted a master bedroom suite and three standard bedrooms, with just 20% choosing two full master bedroom suites, plus one standard bedroom.
In the latest survey, the 80-20 ratio changed. It is now 60-40, doubling in a single year the percentage of Millennials wanting two full master bedroom suites, plus one standard bedroom.
Which makes me wonder: does this indicate an Airbnb play?