There is the Good News and there is always the Bad News.
For all you McMansion lovers, developer-designed architectural disaster divas, bedroom,bathroom and oversize quantity qualifiers, maximalists in every sense...this is the Bad News. The next generation aka Next Gen is not looking for that home design so if you own a home with less than four bedrooms, perhaps two master suites that are on different levels and horizontally distant you have a WINNER.
The facts, according to Candace Jackson's opinion in the NYT the millennial's new American dream home is an architectural design that will fluctuate in need and space.
For example, the millennial is looking for a home with an office and in addition to the master bedroom suite, an additional suite that can become a rentable Airbnb unit.
The need for a large garage is more minimalized, the new want is a carport that can transform to an outdoor entertaining space. This generation not only travels light, but they live light.
Why the shift? Millennials are the next generation that grew up during the housing recession where they saw the personal/family wealth of many vanish overnight. This is the generation that saw For Sale signs morph into Foreclosure signs and half built McMansions in developer planned communities linger for months. This generation wasn't old enough to buy the "see-through" homes that became Buyer steals, but they were old enough for the big take away on buying a dream house. The Next Gen dream house is the house you never have to leave.
Major builders are looking to this large group as their future consumer so they are adjusting the old McMansion plan for an "architect" designed plan that includes flexibility with a focus on outdoor living as well as rentable space. The kitchen space for this generation is sleek, functional open to the entertaining areas of the home. The traditional dining and living rooms are not wanted nor needed by this group of keeping it simple buyers.
So, if you have or are planning to design a new home, keep your future buyer in the mind of your architect. Put the "American Gothic" on the back burner because the generation after the Millennials may want just that.
For more information on the ever changing and fluctuating housing market, contact me. I have worked with Buyers and Sellers in the greater Denver area for over 30 years.
Judy Fahrenkrog
LIV Sotheby's International Realty
Mile Hi Modern
255 Clayton St #100
Denver, CO 80206
posted: October 15, 2018 - Judy's Denver - Blog
|
.jpg){kind=small}
.jpg){kind=small}
