Housing Matters – Millennials Vs Baby Boomers.
Millennials and baby boomers are two different generations and they come with their own set of beliefs and mindsets. People belonging to these two generations think differently and live their lives in different ways. Let’s analyze how the needs of a millennial house hunter differ from that of a baby boomer.
Location – Millennials like to dwell in megacities like Los Angeles, Miami, San Francisco, and New York, but baby boomers aren’t behind either. They too like to buy houses in these cities since that’s where one can find access to art galleries, theatres, fine dining restaurants, and cultural centers. While baby boomers have the resources to buy property, millennials prefer to rent expensive houses. A recently conducted study concludes that the millennial generation willingly pays more rent than any other generation has paid before them.
Type of Home – Millennials look for a trendy social hub where they can enjoy themselves while boomers look for a space with privacy and security (sort of like a vacation pad). Boomers like their place to be comfortable and lavish. Basically, their home should illustrate the amount of success they’ve garnered over the years.
Amenities – This is one thing that both these generations crave for. Both millennials and boomers put quantity and quality of amenities over acreage of the house. While millennials would go for docking stations, high speed internet connectivity, and satellite television connectivity; boomers would prefer stuff like state of the art kitchens and large walk-in closets. They would want everything to be elegant and shiny while millennials would want things to be colorful and upbeat.
Both the generations have different requirements when it comes to buying a house, but in the end, both of them want to stay in cities like South California and yearn for a perfect dream home where they can spend their lifetime comfortably with their loved ones.