Millennials are finding it increasingly difficult to become first-time buyers. Even for those that have managed to find (albeit shaky) footing on the housing market, it’s not easy. Moving to a bigger and better house is often out of the question, for example. But millennials are a crafty lot; if moving isn’t an option, why not remodel? In fact, over 25% of millennials are choosing to do just that and to get the job done they are taking out rehab loans. In this article, we focus on what they decide to focus their remodeling energies on.
As we’ve already mentioned, millennials are either choosing or being forced to stay in their homes. With moving an impossibility, even with growing families, millennials have had to get creative with maximizing space:
- Function first. Style is important, but if space comes at a premium, then function is the first thing on the millennial’s mind. If looking to build additions or expand you will want to contact a structural engineering services company to help you with your structural questions.
- Storage everywhere. Hooks against kitchen walls to hang pots and pans. Drawers under the couch. Pull-out closets. Cabinets against the ceiling. You get the drill.
- Natural light. Sometimes it’s impossible to create extra space. So why not the next best thing? Adding a window or skylight can give you the illusion of a bigger home.
ENJOYING OUTDOOR SPACE
Millennials are massively investing in their gardens. In fact, it’s becoming kinda cool, with millennials now spending more on average than their parents. Growing vegetables is definitely becoming a thing, with millennials liking growing their own organic food. It’s tastier, better for the environment, and it’s a fun project to get involved in.
Millennials don’t tend to live in homes with a lot of outdoor space. Gardens are like gold dust, so it’s no surprise that if they manage to get their hands on one, millennials take care of it.They spend a lot of time researching sustainable designs and plants to occupy it.
LOW MAINTENANCE BEATS STYLE
Millennials are big on homes that don’t really take much effort to maintain. They want practical homes built with eco-friendly products. Homes that are built with cheap and sturdy materials, rather than the stylish but overpriced stuff. Here are two examples of what we’re talking about:
- Hard flooring, not carpet. Carpets are expensive, get stained easily, will only be in decent condition for a few years tops (less if you have kids!), and it doesn’t look as cool as engineered flooring.
- Metal roof. Tiles have the traditional vibe going for them, but they’re more annoying to maintain than metal roofing. And it doesn’t have to look worse either; many of the newer metal roof varieties are modern and slick.
SMART TECHNOLOGY IS THE SMART CHOICE
Millennials are huge on tech, so it’s no surprise that many of them are turning to smart technology to transform their homes. And it’s not just buying an Amazon Echo. These are some remodelling upgrades that help millennials smarten up their homes:
- USB outlets. Power outlets aren’t enough these days.
- Built-in speaker systems. When it’s challenging to find space in smaller homes, solutions like built-in speaker systems are a cool way to solve the problem.
- Motion sensors. Security is important, especially for millennials living in the big cities where break-ins are a little more common.
- Smart thermostats. Not only to save bills, but these also help the environment by limiting your energy usage to when you actually need it.