Suburbs? 3D Houses? What Millennials Are Looking For in This Market

As millennials age and are expanding their families or entering different stages of life, homebuying is on their radar, whether they are looking to purchase their first home or upgrade from their starter home.

However, like many buyers in today’s market, they are struggling with lack of affordable inventory. Once thought to be urban dwellers, millennials are now turning to the suburbs to look for their next home. According to realtor.com®, most millennial buyers are looking for a three-bedroom home with 2.5 baths in a quiet location with a large yard. Additionally, with many millennials becoming parents or hoping to soon, they are looking to be near good public schools, have space for a pet and have a home office. But millennials need affordability, as many are still dealing with high student loans, leading the majority to suburban areas. Here, millennials can get the space and amenities they want at less cost than an urban area.

But for those millennials who are struggling to find something, what about 3D houses? About 75% of millennials said they would consider living in a 3D printed house, compared to 66% of the all generations. The top priority for millennials when considering a 3D house is that it would be less expensive than a traditionally built home and another high priority would be if it was more energy-efficient. Higher resistance to natural disasters was another positive. However, consumers do have their hesitations, including durability and wanting a more traditional home.

Regardless if millennials opt to move to the suburbs or embrace new technology, this cohort is ready to buy their new home.