The millennial generation is becoming an increasingly important part of the housing market. According to a 2013 National Association of Realtors study that looked at generational housing trends, millennials (or, Generation Y), those born between 1980 and 2000, are the second biggest segment of the buyer market, behind only Generation X, which covers those born between 1965 and 1979.
Together, these two generations represent today’s young buyers, and broadly speaking, they tend to fall into one of two categories, says Margie Gundersheim, a real estate agent with Keller Williams in Newton, Mass.
“They’re young professionals who prefer a turnkey home that needs little or no work,” says Gundersheim. “(Or they’re) creative/romantic buyers who want to invest sweat equity and money over time, and put their personal stamp on the property and add value for the future.”
But while those two groups may seem like they want entirely different things from a home, many agents say that younger buyers of all stripes have a lot of the same “must-have” features on their lists.