Millenials - What do you look for in a new home? (Chicago: fit in, real estate)

[lexsali]

Millenials are the generation aged 18-36 right now.

If you are in this age range, please tell me what are the top 5 things you look for when buying a new home.

I am interested to see if Millenial preferences really are so different from other generations, regarding real estate.

Thanks in advance!

[Chicago76]

If I were you, I'd look at the surveys that have already been done on this subject rather than soliciting a few responses from a message board. Better to have a broad collection of hundreds of opinions carefully surveyed than a few responses here that may/may not be representative of an entire generational cohort of people.

The NAHB has done surveys. Here are a couple more:

http://www.builderonline.com/design/...-preferences_o

https://urbanland.uli.org/economy-ma...s-millennials/

[doodlemagic]

I'm a wierdo so take mine with a grain of salt...

1. Near a Dunkin Donuts I need my morning coffee.

2. Not a flip. I don't want to overpay for some new granite someone put in, I'd rather find something without granite and pick my own. Also many flippers cosmetically make things look very sharp but the workmanship is actually crap.

3. Yard and Upgrades, people who do a bunch of custom stuff be it crown molding, a hot tub, great landscaping, etc typically aren't going to see a return on that investment, the more custom the less return so if I can find something with raindrop showers, a hot tub, etc I'm basically getting something cool I would never otherwise pay for myself.

4. Yard, I prefer a house with a detached garage offset behind the house and some privacy for the yard.

5. Unique, I like a unique house basically something that's different

[ToriaT]

The big question is do you like open floor plans? Most of the affordable, older homes that millennials could buy don't have open floor plans, but rather, defined rooms. This has led to flippers tearing out walls on potentially historic homes such as bungalows and bastardizing the floor plan to make it look more modern. The other style of home that is questionable is the split level or bi level. Personally always hated them preferring traditional two story houses. Of course I am not a millennial. It will be interesting to see if millennials bite on those.

[Maintainschaos]

Just recently bought a home. Was looking for a place that was:

1) Walkable to necessities (grocery store, pharmacy, dry cleaner) and to luxuries (coffee, restaurants, gym, waterfront)
2) Had decent amount of space, but was much smaller and more manageable than something like a McMansion
3) Minimized commute for me and my partner (we only have 1 car, and didn't want to get another)
4) Safe with a strong neighborhood feel
5) Access to green space, since most of the neighborhoods we targeted had properties that lacked any kind of yard

Some other things we considered were: historic charm, modern updates, curb appeal, tree-lined street, property taxes and general cost (obviously), wanting not to be house poor, etc.

[Chicago76]

Originally Posted by ToriaT

The big question is do you like open floor plans? Most of the affordable, older homes that millennials could buy don't have open floor plans, but rather, defined rooms. This has led to flippers tearing out walls on potentially historic homes such as bungalows and bastardizing the floor plan to make it look more modern. The other style of home that is questionable is the split level or bi level. Personally always hated them preferring traditional two story houses. Of course I am not a millennial. It will be interesting to see if millennials bite on those.

The problem with split level, IMO, isn't the layout. You can do certain things to open them up a bit or provide better continuity through the home. The problem with split levels is that they tend to built in subdivisions of other split levels. Many of those houses are pushing 50-60 years old now and they weren't built as well as the pre War housing stock. So they're often in bad shape and the middle class families who own them have upgraded, leaving them in the hands of those further down the economic ladder. Which means the schools probably aren't as strong. Schools aren't a deal breaker for those who aren't interested in kids, but many of those types often want a walkable environment. And split level subdivisions built between 1960-75 aren't that.

Aging post War suburban housing in areas experiencing a decline in submarket status is the worst of all worlds.

[TBideon]

1. Neighborhood demographics. Far and away the deciding factor, especially for considering re-sale value.
2. Proximity to a train line. Express and regular buses are also factors.
3. Proximity to a grocery store, coffee shop, pub, boutique shops, dry cleaners, restaurants, theaters, and other neighborhood essentials/staples.
4. Updates within the last ten years. When I buy a new property, I want it ready to go.
5. Ease of parking. In case my situation changes and I need a car.

[fusillirob1983]

Originally Posted by Chicago76

The problem with split level, IMO, isn't the layout. You can do certain things to open them up a bit or provide better continuity through the home. The problem with split levels is that they tend to built in subdivisions of other split levels. Many of those houses are pushing 50-60 years old now and they weren't built as well as the pre War housing stock. So they're often in bad shape and the middle class families who own them have upgraded, leaving them in the hands of those further down the economic ladder. Which means the schools probably aren't as strong. Schools aren't a deal breaker for those who aren't interested in kids, but many of those types often want a walkable environment. And split level subdivisions built between 1960-75 aren't that.

Aging post War suburban housing in areas experiencing a decline in submarket status is the worst of all worlds.

It really depends on the town and if it's been updated. I've seen split levels listed in towns like Elmhurst, Wheaton, Glen Ellyn, and Park Ridge that feed into good schools and are listed for well over $400k.


There's split levels in Naperville starting to get closer to that price range. The schools are good there as well.


On the other hand, many can be found in towns Niles or Oak Lawn, which may be more in line with what you're thinking.

[MrJones17]

I'm in my mid-twenties.

1. I like being located within walking distance to a major grocery store.
2. Neighborhood has to be walkable. I'll overpay on a home if it's in a more walkable area.
3. Small driveway. Garage would be nice but not an absolutely necessity.
4. Bathrooms need to have FULL showers. Not those dinky showers you can barely fit in.
5. Central air. Non-negotiable.
6. Big windows. I need sunlight.

[lepoisson]

Here's what I'm looking for. No idea if I'll end up buying a house in a city area or in a suburb or rural area. Obviously things like being in a safe neighborhood are a given, so I'm not including that here.

1) NO CARPET (although I could probably deal with it in the bedrooms for a while)
2) Driveway, carport, or garage
3) Move in ready. It doesn't have to be super modern or up to date. I just don't want to be doing electrical work or plumbing right after moving in.
4) I'd prefer that the master bathroom has a walk-in shower. Never use a bathtub, but it would be nice to have in a guest bathroom.
5) Gas stove