Millennial Buyers Want More (Not Less) Square Footage
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A recent Trulia study revealed that millennials aren't ready to ditch their creature comforts and downsize. When it comes to dreaming of a new home, they're dreaming big.
A recent Trulia survey shows that 20- and 30-somethings crave space to roam at home.
When it comes to millennials, minimalism is in — from “norm core” fashion on the runways (see: fanny packs and “sensible” shoes) to the tiny-house movement, as parodied on a recent episode of Portlandia.
So to find out what’s trending when it comes to square footage, Trulia surveyed more than 2,000 people across multiple cities, lifestyles, and generations — and the results for millennials surprised us.
Despite the fact that 20- and 30-somethings are typed by “simple-ing down” everything from how they dress to how they invest, more than any other generation, the numbers reveal that they’re not ready to ditch all of their creature comforts just yet.
Millennials are generally dreaming of bigger — not smaller — places to live.
Yes, this generation has been statistically shown to be more eco-focused (and carbon footprint–conservative) than its predecessors.
But Trulia Housing Economist Ralph McLaughlin may have said it best in a recent article about housing-size preferences: Even environmentally conscious millennials aren’t immune to wanting more elbow room at their tables.
According to McLaughlin, “They’re looking to move on up by a big margin: just over 60% told us their ideal residence is larger than where they live now — the largest proportion among the generations in our [multigenerational survey] sample.”
