Since the number of consumers categorized as the millennial generation is set to surpass those known as baby boomers within the next few years, this group of buyers has become very influential. Millennials are more likely to be driven by trends than other consumer groups, which is why the luxury real estate market is taking note of their preferences.
According to the report by Luxury Portfolio, this new group of luxury home buyers is more likely to have grown up in affluent families and is set to inherit their wealth in the near future. This means these home buyers have become accustomed to and are more educated on luxury home amenities.
While the home styles this group prefers varies from modern to classic, these luxury home buyers agree on the amenities in their next house. Most are searching for homes with smart capabilities and monitored security systems with multiple view cameras. Outdoor entertaining space and professional-grade kitchens are also very important home features to these young buyers. This buying group also say it’s essential their next home have a jacuzzi or hot tub, as well.
Like many other luxury home buyers, most millenials are looking for homes with open floor plans, updated kitchens and baths, low-maintenance finishes, and plenty of space for entertaining. These young buyers are also paying attention to the home’s technological capabilities, as well as its energy efficiency.
Location is also important to this influential group of buyers. Most are searching for homes in close proximity to popular restaurants and shopping hubs, in addition to being close to their own families. Several Calabasas luxury homes for sale fit this bill perfectly. The city of Calabasas offers a wide range up upscale dining and elegant shopping options, in addition to top-notch school districts. As millennials continue to shift towards the value of experience, these luxury homes provide a space to define who they are, while amenities serve as resource to create these experiences at home.