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Most Important Features Millennials Want in Their Homes

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

There have been a lot of studies, think pieces and discussions trying to figure out millennials. Business owners were skeptical about hiring millennials a few years ago and now, as this younger generation continues to grow and succeed in life, the housing market seems to be the next millennial-facing industry.

There’s no doubt that millennials have finally entered the housing market. In fact, they currently make up 35 percent of buyers throughout the United States. Approximately 68 percent of all first-time home buyers fall into this age bracket, as well. But what do they want inside their homes?

Let’s take a look and see what millennials are looking for when it comes to buying a home.

Separate Laundry Rooms – Say what you will about millennials and their laundry habits, the majority of millennial homebuyers are searching for homes with an additional room just for laundry. Roughly 92 percent of homebuyers want a separate laundry room, coming in as the No. 1 thing millennials are looking for.

Outdoor Lighting – The second most desired feature for millennial homebuyers is exterior lighting. Roughly 90 percent of all people searching for a home in the current market want exterior lighting to illuminate their landscape.

Energy-Efficient Appliances – Another aspect of home-buying that cracks the top 10 for millennials is having energy-efficient appliances inside the home. (In fact, across every generation of homebuyers, 90 percent of people are looking for this feature.)

Hardwood Floors – Millennial homebuyers also prefer hardwood floors for their homes. Rather than choosing carpeting, approximately 82 percent of homebuyers are searching for properties with open hardwood floor plans.

There are still plenty of millennials who aren’t ready to buy a home just yet—but it looks like these are the kinds of features they will be looking for when they are ready to enter the housing market.

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What to Buy (and Not Buy) in September

The perfect storm of Labor Day, back-to-school and end-of-summer clearance sales make September ideal for bargain-hunters. From consumer watchdog DealNews.com, here’s the scoop on what’s best to buy in September—and what purchases to put on the back burner:

Summer Apparel – No surprise here—retailers ranging from big-box outlets to designers blow out summer styles in September. Pro tip: Buy for your family now and stow it for next year.

Grills/Patio Furniture – Like summer apparel, leftover grill and patio furniture inventory goes on sale in September. Look for items stacked at the front of hardware and home stores for the best bargains.

Big-Screen TVs – The best big-screen buys in September are on mid-size models (the perfect size for apartments or dorm rooms), but larger sizes are often marked down, as well.

Mattresses – Historically, the best times to purchase a new mattress were in April or May—but Labor Day sales are becoming another contender. Pro tip: Double-down on a deal by using coupons on top of sale prices.

Laptops – Seventy-five percent of laptops are discounted considerably for back-to-school season. Big-box electronics providers are your best bet for the best deals.
 
Previous Generation iPhones – There are appreciable savings to be had on older iPhones in September, when the new model typically rolls out. Rock-bottom bargains on these devices can be found on online auction sites, like eBay.

Textbooks – Both buyers and sellers of textbooks can expect deals in September, when need is highest.

DealNews.com advises shoppers to hold off on buying washers, dryers and other large appliances, as well as some electronics, in September. While the month brings decent sales on these items, Black Friday sales in November have historically yielded better savings.

For the latest real estate news and trends, bookmark RISMedia.com.

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