As an interior designer, there is a good chance your clientele falls into two categories: baby boomers and millennials. This is not surprising since they make up the biggest markets for home buying and renovations.
These people, however, come in extremely different generations, meaning their preferences also vary. Because you are more likely to encounter the younger ones in the future, it is best to get to know them more first.
Who Are They to You?
Firms such as Mydoma Studio, a company that offers project management applications for interior designers, may have a lot to offer to millennials hoping to buy their first home. Here are some insightful data about millennial homebuyers.
1. They love their dogs
A dog rather than a marriage will encourage millennials to buy a house, according to a recent Harris Poll. Only 19 percent consider having a child as a motivation. A probable reason for this interesting behavior is the fact many of them consider pooches (and perhaps other animals) as their family members.
Many apartments and condos, on the other hand, forbid renters to bring animals or they are small enough for the animals to roam and play.
2. Many are buying luxury homes
Millennials do face a lot of financial responsibilities including paying off their student debt. The current real estate market is not favorable to them either. Houses are costly, and they have to deal with intense competition.
In the process, they take time to buy a house, which serves them well in the end.
3. Millennials are also picky
Millennials are less likely to stay in their first homes permanently. In fact, most of them sell their property within six years. That does not mean, however, they do not choose their homes properly.
Not only do they want an open floor plan, but they also like a gorgeous kitchen. They also value technology including home automation and solar lighting.
Millennials are perhaps the most discerning market you will encounter. Before they make any decision, they read reviews and check out social media influencers. They can go to message boards to get an opinion. Marketing to them, therefore, becomes less of what you know, and more about what they do.