If you’re a member of the Millennial generation, or know a potential home buyer who is, you may not be surprised to find out that some members of this age group are favoring new construction rather than resales.
This apparent trend from the homebuilding-data company Zonda, whose researchers have surveyed Millennials for the past six years, was spotlighted recently in Builder Magazine. It revealed that 83 percent of the survey’s Millennial respondents said they’d recommend buying a new home rather than a resale.
To refresh your memory, Millennials generally were born from 1980 through 2000, and now comprise the largest group of home buyers in the U.S.
They range from ages 20 to 40, around the time most of us get tired of rent, roommates and seek to put down housing and family roots. Buying a home often plays a big role in these life shifts. Although the process may have have been altered by a pandemic and its accompanying economies, Millennials appear eager participants in today’s hot residential market.
Here’s a look at why new housing appeals to Millennials, plus suggestions for finding that new custom Florida home.
Why new construction rocks
It’s simple — it’s new construction. There aren’t old light fixtures, sagging decks or overgrown shrubbery to repair.
Today’s new construction offers the latest technology, finishes, interior design and environmentally friendly, energy efficient materials, colors and features. No one else has occupied your new home, which, as the commercial punchline goes, is priceless.
This can be important for younger buyers who may be prioritizing starting a family or a new career. They’d rather spend their time and money on their most important life choices rather buying a resale and interviewing contractors for renovation projects.
ICI Homes can help
If you’re a Millennial buyer keen on Florida, look us up. We’ve built new custom homes all over the state for more than four decades, and our pros can help you find one that’s right for you.
Townhomes are a great no-maintenance option for busy first-time buyers. Two options are our master-planned communities of Woodhaven in Port Orange, in the Daytona Beach area, and Plantation Bay in Ormond Beach. Explore our versatile single-family homes in the communities where we build in Jacksonville, Tampa and Gainesville.
Here’s a handy tip: start with move-in-ready homes available across our Florida divisions. Move-in-ready homes, also called inventory or spec homes, are built to sell. They’re perfect for buyers who must move fast, or who don’t want to wait to build.
When we build inventory homes, we choose from among our most popular floor plans. They include neutral colors and designs, and can be purchased finished or during the construction process. Another handy tip: if you find the perfect home early enough, you may be able to select its colors, finishes and components yourself. Just check with your ICI Homes sales associate.
It revealed that 83 percent of the survey’s Millennial respondents said they’d recommend buying a new home rather than a resale.
