Why Millennials Are Changing The Pre Construction Market Read Count : 15
Category : Blogs
Sub Category : Miscellaneous
Are you a Millennial looking to buy a new home, or someone looking to sell or rent to Millennials in your area? There's no denying that Millennials are changing the face of the pre construction market. Here's how they're changing how homes are sold, and how that affects you.
Millennials Are Key Home Buyers Right NowAt this time, the most people looking to buy luxury homes in Weston FL are going to be Millennials. Aged very roughly between 25 – 40, they've been focusing on their careers and now want to put down roots. However, they don't want to buy a home the same way their parents did twenty or thirty years ago. With the way home prices have gone up, they wouldn't be able to. Because they're the bulk of the market now, the way the market works has had to change along with them.
Luxury Homes Are In More Demand Than EverWhen you talk to a Millennial prospective home buyer, they're looking for their forever home as their first purchase. You'll find that unlike home owners in the past, who have been looking to upgrade their homes over the years, a Millennial wants the right home first time. That's why they're in the market for a luxury home as their first home. Thanks to that, the market for luxury homes has boomed all over the world. You see this especially in new condo developments such as the Botaniko Weston developments.
The Real Estate Market Is Becoming More Tech FocusedWhen you're looking for a new home, you'll find more options online than ever before. For example, virtual tours are becoming essential if you're looking to check out a property online. Millennials are the most tech savvy generation in the real estate market, so they demand more from sellers when it comes to tech. You'll see this now, as you can check out pretty much anything you want to know about a property online. There are whole websites dedicated to telling you about the area the home is in, and groups online that share tips and help each other get on the property ladder.
Millennials Shop Online For Their HomeThanks to Millennials being so tech savvy, you'll find that they're actually willing to buy a home online. This is in stark contract to Baby Boomers, who often don't trust online purchases and would rather make the transaction in person. Millennials are very comfortable with shopping online, and that even extends to their new pre construction homes in Weston FL. They'll happily make payments online as it's easier for them to fit into their busy schedules, rather than having to go meet someone to do it.
Reputation Matters More Than EverAs a Millennial, you're not going to even consider a certain property if the developer is not well thought of. These property buyers want to check out anyone they're considering buying from. They'll go to friends and family and ask for their opinion, especially on social media. If they're not doing that, they're going to online review sites to see what others have to say. This has changed the way real estate developers have started interacting with their customers. They're now much more open with buyers, giving them everything they need to know before they buy.
The Developers With No Sales CenterAs mentioned earlier, many Millennials aren't interested in going all the way to a sales center to interact with the developer of their new home. As they're so tech savvy, they want to interact online instead. This can be done through emails, video chat, and more. As this is the case, many developers are starting to do away with the sales center as a concept. It benefits them as it lowers overheads, and gives them new and exciting ways to reach out to their client base. These are just a few of the ways how Millennials have changed the pre construction marketplace. Every generation needs something new, and Millennials have shaped the marketplace to give them what they need. It'll be exciting to see how the market changes further in the future, when younger prospective buyers start checking out real estate too.