What Do Millennials Do Differently To Increase The Value Of Their Homes?
There’s always a time as a homeowner when you need to consider home improvements to add value to your property. Don’t be fooled into thinking that increasing the value of your property is only a matter of facilitating the selling process. When you live in the same home day after day, it’s only natural to want to make the most of it and transform it — as best as you can — into your own modern castle. Every property has a hidden potential that can be discovered and maximised through home improvement projects. You know the kind: the loft that can be turned into an additional bedroom or maybe the extra conservatory that can merge the garden and the home. Home improvements are about adding value to your home to encourage selling at a higher price or simply to make your everyday life a little bit better and more comfortable. For most homeowners, this kind of home improvements ticks off the main items from the list of best home features: new bedroom, conservatory, positive kerb appeal and spacious rooms. However, you’d be surprised to know that Millennials have a different view of what they need to increase the value of their homes.
#1. They start with a life audit
At the start of every home improvement project, there’s a need for an audit of the situation. Where most homeowners take a deep look at the state of their home in comparison to their neighbours or their dream property, Millennials take a completely different approach. Indeed, for Millennials the home is the heart of their lifestyle and consequently, improving the home needs to have a direct and positive impact on their lifestyle. Therefore, instead of considering improvements in terms of home structure and design, they perform an evaluation of their lifestyle and their personal priorities and preferences before budgeting for the necessary home loan. The home transformation projects will be designed to answer their needs better.
There are two main areas in the Millennials’ lifestyle that need to be reflected in their home design. For a start, Millennials work extensively from home and have developed a solid and powerful habit of making remote work work. Millennials work a lot harder than the Boomer generation and yet struggle with more responsibilities in their work and less pay at the end of the month. Consequently, they’ve established a clear focus on maintaining a healthy work/life balance. Working from home is not only their solution to save on commuting and daily expenses, but they’ve also proven that they can deliver high-quality output within a schedule that fits their needs and the customers’ requirements. As a result, they need a home that can offer effective remote work options.
But their desire to maintain a healthy life balance also extends to common areas of fitness. For the Millennials a balanced life is not only about having time with their family but also about taking the time to look after their mental and physical health too. It comes as no surprise that the Millennials are commonly referred to as the generation wellness. They do make room in their restricted budget for fitness and have adopted a digital approach to their health. Using technology as a tracking and motivational device, they maximise fitness in their everyday lives. Their interest in health doesn’t stop here, naturally. Eating right is a big topic for Millennials who have used the Internet to broaden their exposure to healthy diets. Consequently, they pay close attention to food packages and ingredients to buy primarily whole grains and natural ingredients. But they’ve also ditched the fast-food culture to focus on nutritious and healthy cooking. A home that supports their well-being priorities is exactly what they want from home improvements.
#2. Focus on health for every living creature
Surprisingly, Millennials have moved away from the idea of owning a private gym studio, stating that quality equipment is too expensive. But their need for healthy eating starts at home and requires a big and more open kitchen. With their desire to eat healthy food, Millennials need to prepare their meals at home. Consequently, their preferred home improvement project is set on creating a well-equipped kitchen that can support their healthy aspirations. This means that they are more likely to invest in durable and elegant materials that will keep their kitchen designs feeling trendy and stylish even as time passes.
Maybe it’s the health focus that is pushing Millennials to consider eco-friendly options for their home transformations. They define a healthy lifestyle as a way of living that is beneficial for themselves and the planet too. Consequently, they invest in green projects that reduce the impact on the environment and minimise wastage of resources. Millennials home improvements are a health catalyst for all living creatures, including the homeowner, naturally. From renewable energy sources to water harvesting solutions, the Millennials’ homes are designed to make the planet a greener place.
#3. Create a space for the mind and the inspiration
As they work from home extensively, the Millennials invest a lot of time and effort in creating a home office environment that is inspiring and effective. The time of the old desk pushed in the corner of the living room is long forgotten. For Millennials, the home office is a room that combines beauty and practicality in every feature. As a rule of the thumb, the overall look is the happy combination of a person’s professional and personal passions, as this is the best way to design a space that inspires creativity and performance. But beyond the choices of furniture and colours, there’s a need to bring essential digital technologies into the office space too. From a smart Internet Firewall that protects all sensitive information to the latest Alexa-enables device, the Millennials’ home office requires high tech that doesn’t come in cheap. It is obvious that the home office design is one of the most expensive home improvement projects for Millennials who need to create an inspiring, functional and highly efficiently tech space.
For Millennials, the home needs to reflect their life values, only then can it be a valuable property. As a result, they prefer to invest in improving the overall health of the planet — and consequently theirs too — and encouraging creative quality remote work.