Page 37 - Green Builder Magazine May-June 2021

CCORDING TO COGNITION Smart Data, Green Builder
Media’s market intelligence service, millennials (generally,
persons who are age 25 to 40) are feeling bullish about buying
homes, identifying homeownership with economic security
and a desirable lifestyle. Spurred by a growing desire for
financial independence, this audience segment recognizes
the value of investing in an appreciable asset that can create
long-term financial wealth and stability.
In fact, millennials have seized the top influencer position
A in the housing sector, spending more money on buying and
remodeling homes than any other audience segment.
The majority of millennial homebuyers are dual-income, college educated
couples that have just started young families or are about to do so.
The most-motivated homebuyers in this segment are individuals who have
been renting. They now want to take advantage of low interest rates and the
surge in remote working to purchase their own home.
What features do these homebuyers value? They want healthy, smart,
efficient, solar-powered homes, as well as advanced connected living
technology, home gyms and larger yards.
This audience segment is mission driven, values based and community
oriented. They cherish purpose and long-lasting relationships above all else,
which is reflected in their home buying decisions through their demand for
communities that offer access to community areas, co-working spaces, outdoor
dining, community gardens, rooftop bars and coordinated social events.
Following is a collection of findings that reveal additional insight into this
up-and-coming generation of consumers and decision makers.

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