Millennials are a particular lot when it comes to buying homes. Most want a home that speaks to their needs and tastes, one that is energy efficient or eco-friendly and that has the latest technology. But they also want a home that is conveniently located to work and shopping, dining and entertainment. Can Millennial homebuyers have it all?
Of course! A custom home serves the needs of Millennials with a higher degree of personalization than other new construction homes.
Here are 5 reasons why building a custom home is a good option for young home shoppers:
1. You Choose Everything in a Custom Home
Building a new home means you get to make a few choices about features like cabinets, counters, and fixtures. With custom homes, however, you choose everything.
“Millennials are the autonomous generation,” says Kenny Anderson, co-owner of Highland Custom Homes in Lehi, Utah. They want control over the space they live in and want to customize it to their work, family and lifestyle needs. A custom home gives them that flexibility.”
So, if a pet suite for a furry family member or if a dedicated craft room is what your heart desires, a custom home can be designed to accommodate your needs and dreams.
2. Build a New Home and Go Green
“The most significant environmental consideration for homebuyers is, not surprisingly, linked to finances, with 84 percent citing the cost of heating and cooling as important,” says Josh Biggs, vice president of Sales and Marketing at Adair Homes, a Pacific Northwest custom builder.
Newer homes are more energy-efficient than older homes because they are built to different standards. A custom home will have energy-efficient features, such as appliances, lighting, and landscaping. In addition to saving money, these energy-efficient features will conserve valuable resources.
Millennials can also take it a step further in their journey to “go green” by choosing sustainable building products for their custom home, such as bamboo flooring or solar panels.
3. Custom Homes Can be Filled With the Latest Tech Toys
“Younger people tend to adapt to and assimilate technological innovations more quickly than older groups,” says Biggs. “Custom home building offers more of the latest technologies, plus personalization.”
Custom homes include the latest technology, such as home automation systems. What’s better is that these systems don’t always have to be hardwired, so you can take that tech with you if you move. Plus, you won’t have an obsolete system that needs upgrades just a few years after installing. Lighting, entertainment, and security systems are just some of the tech options available with custom homes that will make it easier for Millennials to manage busy days for the whole family.
4. Avoid Costly Repairs or Renovations
Millennials want a home that’s ready to move into. Plus, 48 percent of Millennials buying newly constructed homes so they don’t have to worry about repairs or renovations.
“There’s no need for remodeling, add-ons or appliance upgrades that can end up costing more over time,” says Anderson. “Additionally, a new home is going to hold its value much better than resale.”
That’s because it’s likely that needed repairs are still quite a few years away. Custom homes are also built increasingly durable products as building engineering increasingly improves.
5. You Choose Where to Build It
The freedom to build in your preferred location is a top reason to build a custom home. Whether you already have land, plan on purchasing land, love new-home communities or prefer an already-established community, you can build a custom home in any of these locations.
According to John Burns Real Estate Consulting, location plays a major role in the home buying process for Millennials. In fact, many would choose a shorter commute if that meant a smaller home. A custom home allows Millennials to build their dream home in a location that’s close to work, dining and entertainment or that is in a more secluded area, if that’s what they prefer.
Can Millennials Really Afford a Custom Home?
Most people, not just Millennials, falsely believe that a custom home is out of their budget. But, in many cases, Millennials can find a custom home builder who can work with their budget. In fact, Anderson says that Highland Custom Homes is seeing more Millennials building custom homes now than any other time in the company’s history.
Sure, building custom homes can cost upwards of $1 million, but with careful planning, Millennials can affordably build a custom home that fits their needs and budget.