In the real estate world, much like everything else these days, there is a tremendous amount of discussion about millennials–What do they want? What motivates them? How can I engage them in my business? And so on.
As marketing experts and social media gurus continue to conceive new business models geared toward more millennial-centric growth strategies, real estate developers and home builders have largely overlooked the specific wants and needs of millennial homebuyers. That is why this item caught my eye:
The ‘Responsive House’ is a concept based on the flexibility, technological readiness, durability, and efficiency–all things that millennials value in a home. According to the builders, the’Responsive House’ concept is available in two customizable floor plans: a contemporary farmhouse design with three to four bedroom, 3½ to 4½ bath at 2,145 square feet; contemporary transitional floor plan with four bedroom, 3½ baths and nearly 3,200 square feet. Both emphasize adaptability and are built around a featured outdoor space.
Though much has been made of the declining level of first time home buyers, something will have to give. With over 83 million millennials in the United States it would be foolish to continue to ignore their potential as future home buyers–that is why the ‘Responsive House’ concept is so interesting.
Not every community or local real estate market may be ready for this concept but it is most definitely something to keep an eye on–especially as millennials become more savvy participants in the real estate market.