For most Americans, homeownership remains an integral part of an otherwise shifting interpretation of the American Dream. Nearly 90 percent of Millennials – a group known for their tendency to rent in the city the longest – plan to purchase their own place at some point.
The key difference between Millennials and prior generations is that young people view homeownership as a personal lifestyle choice rather than a definite milestone. As such, young home buyers are somewhat particular when it comes to their dream home must-haves.
Per a survey conducted by Trulia and Harris Poll, 72 percent of renters ages 18 to 34 plan to buy a home as early as 2018 – which is now just a few short months away. In preparation of this new wave of home buyers, home sellers and real estate professionals must consider where young people want to live and the home features they desire most. There are a few surprises in the survey, for example, Millennials are not expected to line up to purchase tiny homes and are not entirely focused upon the inner cities.
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