Forget parking options and school catchment areas, what millennials really want in their first home is a kitchen island, underfloor heating and a spa-style bathroom.
Young home-buyers – aged 35 and under – are opting for style over practicality, according to a survey of 2,000 Brits from M&S Bank which puts the shift in behaviour down to the ‘Instagram effect’. So much so that among the top requirements for a first home are an open plan living space, polished concrete floors and even a garden fire pit (we blame Love Island for that one).
In fact, millennials care so much about how their house looks that as many as 92 per cent said they would compromise on the size or practical features of a property if it was in a cool desirable location, while 73 per cent said they would be willing to shell out more on a house in an “Instagrammable” area.
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“Our research has highlighted an important trend that’s making a huge impact in the housing market,” said Paul Stokes from M&S Bank. “Young people have completely different priorities than the generations before them.”
When it comes to what puts younger Brits off a property, 26 per cent said a 70s-style avocado-coloured bathroom (cue up the brunch jokes), while 17 per cent wouldn’t dream of buying a house with pebbledash walls and 15 per cent said patterned or brightly coloured carpets would also be a no-no.
Other major turn-offs included frosted glass windows, artex ceilings, net curtains, stripped pine floors, bidets and a conservatory. Fussy or what?
The younger generation are “far less practical” than their parents, with almost a third saying they’d never consider things like council tax band or access to a local GP when choosing a property and a fifth overlooking energy efficiency and condition of the roof. School catchment areas and options such as off-road parking were also of little interest.
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As for local amenities, half of the under 35s polled said their dream home would need to be near a good local restaurant, 42 per cent require some green space a stone’s throw away, while 39 per cent would not move into a house unless there was a gym nearby. A farmer’s market also factored into preferences.
Of the over 50s polled, almost a third felt young people today pick homes that suit their immediate needs rather than homes they can grow into, while 22 per cent said the younger generation are concerned about things looking nice over more practical concerns. Nice for you to say, baby boomers.
The 10 Things Under-35s Want In A “Perfect” Home:
1. Kitchen island
2. Nice views
3. Underfloor heating
4. A spa-style bathroom
5. Loft conversion
6. Open plan living space
7. A garden fire pit
8. High ceilings
9. Home office space
10. Log burning stove.
The 10 Things Under-35s Want Near Their Home
1. A good local restaurant
2. A cinema
3. Green space/parks
4. A gym
5. Trendy coffee shops
6. A cool bar
7. A farmers’ market
8. Independent retailers
9. A gastro pub
10. A buzzing high street.