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The Millennial Approach to Future Homebuying

The Millennial Approach to Future Homebuying

Millennials are defined as people who reached adulthood in the early 21st century and have a reputation for being carefree. This generation essentially grew up in a world with developing technology and is very quick to adapt to changing technology. According to studies, India has a growing population of millennials, and 440 million of the country’s total population are millennials.

This generation is often labeled careless and comprised of spendthrifts, but it is a population of fastidious thinkers and doers. This generation is extremely active on social media, and networking on these platforms is a way of life for them. This tech-savvy generation is, however, extremely well-informed about current affairs, opinionated and proactive, and has a unique perspective on life.

Millennials are actively pursuing steps to achieve a better future, and dreaming of owning a home is one of these. CBRE (a real estate firm in California) estimates that 65% of Indian millennials harbor aspirations to buy their own home. This generation is not just dreaming; they are taking steps towards securing their futures, so they can achieve this dream.

This generation is also aware of their impact on the Earth and, to this end, is moving toward eco-friendly approaches. Eco-friendly and low-impact constructions with sustainably sourced materials are attracting the interest of millennials owing to their low carbon footprint. Residential developments with sustainable measures such as solar energy generation, rainwater harvesting, and waste conversion are the choice of millennials.

Minimalism is a concept that has garnered attention, and the millennial generation is opting for spaces that maximize space utilization. They desire well-conceptualized, multifunctional residential spaces that are elegant yet simply designed and have copious amounts of light and ventilation. The millennials live by their own rules, are their own bosses, and are extremely clear about the houses they own.

The Prestige City new launch township at Sarjapur Road, East Bangalore.

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