Shapoorji Pallonji Real Estate

Help Desk

+91 80 46808543

How today’s youth makes real estate buying decisions

Dec 03, 2018

How today’s youth makes real estate buying decisions
A far cry from how the last generation has been - millennials are confident, fearless and self-assured. This has an impact on home-buying as well. Here’s looking at it briefly:

A shift to experiential buying
A recent article projects millennials as cautious and prudent buyers - “ready to take on more calculated risks (only) after an educated and informed analysis of the property.” It says that “65% of millennials’ decisions are based on a 3D image view seen on their mobile phones before they actually visit a site”. They look for amenities, features and benefits that would improve the experience of their home. What about you?

Money is important, but not everything
>In another departure from the previous generation, millennials can spend more money for their homes, but provided they get quality. The article says that today’s generation wants smart homes that are high on convenience: “43% of millennials want the latest in gadgets and technology to aid comfort.” Even location, hospitals, schools etc play a pivotal role in making the decision. Does this matter to your home buy as well?

Strong, but not so long
Millennials prefer making short-term commitments. So while for their parents, 10 years was the average tenure of stay in a home, it is 6 short years for millennials. Their goals are short-term, well-articulated and they don’t believe in saving beyond 5-7 years. They will go for the buy only after they have carefully evaluated all options and have a sense of financial security before taking the plunge. So they seek the best advice and are willing to pay a premium for a trustworthy advisor.

The investment decisions of millennials may be guided solely by social patterns and several environmental factors. It is worth watching how it will impact the way you buy your home.

More from Shapoorji Pallonji

Shapoorji Pallonji Real Estate

Contact
Guest Manager

Enter a valid name

Select a project you're interested in

(+91)

Shapoorji Pallonji Real Estate

Enter a valid phone number

Enter a valid email address

Shapoorji Pallonji Real Estate

Sorry!

We're facing an issue in catering to your request. Please try again after some time.

You've already registered!

We have your details. Stay tuned, we will get in touch with you shortly.

Thank you for
reaching out

We've successfully registered
your details, and will get back to
you soon.