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Millennials. They’ve tackled challenges with smart solutions, opted for unconventional lifestyles that favor experiences and set a new precedent for access over ownership.
While it’s not that they are the only ones who value a sense of belonging, affordability, and smart technology. It’s that they’ve been the strongest force to disrupt norms and in uncovering what motivates us as a society. The shift has led to the likes of researchers such as David Allison whose work on ‘valuegraphics’ has proven age is irrelevant, and from one generation to the next, we’re more alike one another than ever before.
What is it that people value most in a home?
Ever put yourself on a budget – and we mean a strict budget? Millennials grew up in an age of significant changes, a majority of who struggled to find a job, found themselves in mounting student debt and were forced to move back home with family. Forced into living with less mentality from the outset of adulthood, is also what inspired a new view on what it means to own and propelled the sharing economy to the forefront. Car shares overtook car purchases, streaming services all but erased DVDs and cable packages, and Amazon, well, it changed the game for nearly everything. But small things aside, the cultural segway in priorities meant a shift in design and price. Take for example single-detached family homes. Long gone are the acres of land with a pool and three stall garages, and in are the smart-designs focused on function built on modest-sized lots with access to shared community amenities.
The quest for ownership isn’t dead, it’s been replaced by choice led by the Millennial buyer who from experience, has taken caution when it comes to accumulating more debt. With a need for flexibility, consumers have commanded a market to deliver products and services that allow room to decide what they want and have certainty in the value of every purchase. The homeowners of today, aren’t just interested in the type of build, style, finishes and price. They want to quantify that the money they are putting in feels worth it – from views, and safety, to conveniences and luxuries. It’s an ever-growing trend that’s pushed high-rise living at affordable prices to the top of developers’ lists, offering condo lifestyles that include communal urban perks at their fingertips and access to surrounding resources to suit that sharing economy lifestyle.
Digital. How did any of us live without it before it became ‘a thing’ and an age where convenience and speed reign supreme. With a generation raised on tech and others latching on to the trend with a willingness to pay for the latest and greatest of it, we’ve seen industries, in the most surprising ways, merge tech with their products to make life easier, faster, convenient, and environmentally conscious. Forget handheld devices; we’re talking about homes that are pushing the boundaries of smart-living. From automated systems that allow you to control your home from afar with the touch of a button, to eco-friendly upgrades that warrant spending a little more up front to save the planet and money for long-term, household expenses.
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