It’s official – the millennial generation has arrived as an influential consumer force and every market sector is increasingly motivated to capture their attention. As a homebuilder, we know you’re likely interested in discovering what this well-prepared and informed consumer group prefers to see in a new home. In this post, we’re sharing some key research and revealing some of the most important ways homebuilders can appeal to this powerhouse group.
Reaching millennials is key and businesses need to build an effective online presence. While this information age can feel like constant bombardment, it also affords today’s consumers the ability to do more product research and, very importantly, share their experiences and evaluate brands. The millennial buyer is an informed one, and if you want to be front and center, make sure you have a comprehensive and mobile-friendly presence. We understand this is an investment of resources and money, but we risk missing this group if we don’t offer the information they need, in a medium they can access quickly.
Certainly, the popular visual social media platforms have tremendous influence to millennial buyers and any business in the home selling market should polish their presence and offer good content. Inc. Magazine agrees, reporting that millennials are changing the housing market because they are taking the time and doing the research to be better informed about their housing options, and often doing so from their mobile phone. Fortune Builders reports that 99 percent of millennial buyers searched online for a home in 2017 and nearly 60 percent found the home they ended up purchasing on their mobile device.
In a March 2017 report published by the National Association of Realtors, the millennial generation ranks as the largest group of homebuyers, making up 35 percent of the total buying pool. Trends show that millennials are growing more traditional in their home-buying habits, with an increased focus on detached, single-family homes and homes located in suburban areas. The same research suggests that while millennials are seeking high-quality, stylish homes, they aren’t willing to break the bank to achieve home ownership. They want to feel good about what they buy in terms of quality and price, so smartly designed, functional homes should be on the menu for this savvy bunch of homebuyers.
Currently recognized as the largest group of consumers in the United States, the millennial generation is defined by the Pew Research Center as those born between 1981 and 1996 (roughly ages 23 – 38). As consumers, this generation places high value on genuineness – meaning they want to know where a product comes from and how long it will last. An international survey (Cohn & Wolfe) backs up this claim, reporting that 87 percent of global consumers place a high value on products that demonstrate qualities of authenticity. Consequently, millennials are opting to build or buy living spaces made from materials that are sustainable and authentic rather than made from synthetic, factory-formulated materials.
We’ve learned that millennial homebuyers do their homework and prefer quality, authentic materials. As a homebuilder, offering brick as a smart and sustainable exterior will meet and exceed their expectations. Here are some key selling points for brick:
We’ve made it easy and convenient for your customers to view our huge brick and stone selection. Homebuyers can even select brick by their region, which is a helpful tool! Be sure to introduce your millennial buyers to our MyDesigns tool and General Shale app, to they can get to know their options through the convenience of their mobile devices! Happy building in 2019!