What Millennials Are Searching for in Their Next Apartment
What Millennials Are Searching for in Their Next Apartment
The generation of the Millennials, individuals born between the early eighties and late nineties are officially old enough to enter the real estate hunt. Many of them choose to start by searching for a first apartment. Unlike their parents, millennials have a different personality type and rely heavily on the use of digital technology. It should come as no surprise that their tactics will be different when looking for an apartment. Their reliance on social media will likely be where they focus instead of the local newspapers.
Millennials also have a unique list of expectations they will need met before renting their next apartment.
- Location
Millennials are a generation that enjoy interactions with others, and because of that, they want to be close to the action and culture of a city. They tend to look for apartments near restaurants, clubs, and parks, so that they always have access to people and the ability to spend time with friends.
- Low Maintenance
Most millennials live by the motto work hard, play hard. When they aren’t at work, they spend a vast amount of time away from their apartment and have little desire to do maintenance chores. They look for places that include landscaping, shoveling, and other technical aspects of living on your own.
- Efficient Space
Most millennials are inundated with hefty school loans which put a strain on their budget. When they find an apartment that is small, but efficient they are more likely to move in. You can create an efficient space by building furniture and storage into the walls so they can easily adjust the layout when they have company.
- Home Office
The number of remote workers is on the rise in New York, and millennials are the drive behind the movement. If they are a remote employee, a home office is likely to be one of their apartment requirements.
- Pet-friendly
Most millennials are not yet married, but are likely to have pets. Even if they don’t currently have a pet, they will want the option to bring a new family member home at a later time.
- Environmentally-friendly
This generation of individuals is more focused on the environment than previous generations. They typically choose to do business with companies that have a social mission and will expect the same in their apartment complex. Energy efficient lighting, recycling, and even a compost pile may be requirements for their new apartment complex.
- Pay Rent Online
With their heavy reliance on digital tools, the ability to pay rent online is an important factor in apartment hunting. Millennials won’t want to be bothered with writing a check and mailing it out every month.
- Community
Since millennials love being around others and rely on social media to engage with friends, they will need a place that has a strong sense of community built-in. Features like community hangout spots or an online social media community exclusive to renters are potential benefits that could push them to say yes.
If you are looking to make the move to Manhattan, Brooklyn, or Queens, contact the experienced agents at Hillel Realty Group today to help get started in finding your new home.