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St Louis Real Estate Search

McMansions Not Appealing To Babyboomers Kids

dennis-norman-realtor“McMansions“, which Wikipedia defines as “a large, new house in a sub-division of similarly large houses, which all seem mass produced and lacking distinguishing characteristics” and became popular in the 80’s and 90’s, are not appealing to today’s younger home buyer, according to a survey conducted by Better Homes and Gardens® Real Estate.  According to the survey, “Millennial’s” which, for the sake of this survey was considered to be people between the ages 18 and 35, are looking for a home that is distinctly different than that of their parents generation which, for many of them, are the baby boomers. This group of young home buyers are not looking for stereotypical and prototypical luxury homes (ie: McMansion) but instead want homes that are different and suit their personal lifestyle.

no-mcmansion

no-mcmansion

The survey revealed that this next generation of homeowners are looking for “essential, purposeful homes” (77 percent of them at least) equipped with the technological capabilities they have grown accustomed to. Eighty two percent of the “Millenials” surveyed said they prefer to handle home improvements on their own instead of turning to their parents for help.

Other Survey Results:

  • Millennials are prepared for home maintenance tasks. Nearly 1 in 3 (30%) Millennials surveyed would actually prefer a “fixer-upper” to a house with minimal repairs needed.
  • Nearly half (47%) of survey respondents would be more likely to tackle a home maintenance problem themselves, rather than calling a professional to handle the job. Furthermore, 72 percent of Millennials consider themselves just as handy — if not more so — than their parents.
  • Unlike their Baby Boomer parents, 77 percent of Millennials surveyed would prefer an “essential” home compared to a grand stereotypical luxury home. This generation wants their living quarters to be as unique as they are; more customized and less “cookie cutter” (43%). To that end, Millennials seek for each room of their home to serve a purpose fit for their lifestyle. For instance, 1 in 5 of survey respondents agree that “home office” is a more appropriate name for their dining room based on what they typically use it for, and 43 percent would like to transform their living room into a home theater.
  • More than half (56%) of Millennials believe home technology capabilities are more important than “curb appeal.” If a home is not up-to-date with the latest tech capabilities, 64 percent of Millennials surveyed would simply not consider living there. In addition, 84 percent of the younger Americans surveyed believe that technology is an absolute essential to have in their homes. The most sought-after tech being an energy efficient washer and dryer (57%), security system (48%), and smart thermostat (44%).
  • Fifty-nine (59) percent of those surveyed would rather have extra space in their kitchen for a TV, as opposed to a second oven, and they seek to be entertained in every room of their home. While kitchen renovations are likely to remain a top improvement priority, tech updates are highly desirable, as well. In fact, 41% Millennials would be more likely to brag to a friend about a home automation system over a newly renovated kitchen.

 

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