Who are millennials and what do they want in a home?
While there is no official definition of millennials, in India, people born between 1980 and 1996 are usually referred to as the Millennial Generation or Gen Y. While globally, millennials account for around 23% of the global population, in India, the percentage increases to 34%. In simpler terms, one in every three people in India is a millennial. According to a report, Indian millennials contribute significantly to the country’s economy and are the breadwinners of their households. Indian millennials are also regarded as one of the most powerful consumers in the world.
With most millennials willing to spend on living a good life, they are playing a significant role in shaping the future of the Indian real estate industry. One of the most striking features of this generation is that they are aware of what they want and how much they want to spend. In this article, we will talk about what millennials look for in a home.
Millennials are more educated and earn better than the previous generations. Therefore, they are more selective about where they want to live. Usually, a majority of this generation is at a good place in their careers. People in their thirties also have good buying power and need spacious homes. This makes certain locations in the city more favorable to them. The selectioncriteria range from affordable rates, proximity to work, access to public transportation and highways, good schools, parks, shopping malls, and movie theatres. A good location is a must for Gen Y.
The success of smartphones led to the innovation of smart TVs, smart cars, and also smart homes. The millennial generation saw a world surrounded by technology. They have a flair for leveraging technology to make living easier and more convenient. Hence, they look for smart home technology like automatic lighting, high-tech home security, video surveillance, smart locks, and thermostats, and need the ability to control these technologies from an app.
Millennials like entertaining friends and family at home. Hence, they prefer houses that have an open layout. They like cooking and eating together along with indulging in various group social activities. These need open floor plans that incorporate kitchen, living, and dining areas.
Access to green spaces
Millennials are also an environment-friendly generation. Hence, they value access to open green spaces. This generation needs open outdoors to relax and unwind after a long day at work or socialize with neighbors and friends. Many modern societies understand this need for open outdoors and create open and green recreational areas within the premises of the complex.
Options for working from home
Over the last couple of years, remote working has become a norm across various industries. While the pandemic-related restrictions have been eased, many companies are still offering remote working options to employees. Many millennials like work from home as it allows them to strike a balance between work and personal life. Hence, they look for homes that have dedicated spaces for working and answering office calls.
Gone are the days when people looked for simple and basic bathrooms. Millennials look for modern bathrooms that are spacious and comfortable with high-tech showerheads, a bathtub, and two sinks.
In Pune, BramhaCorp is dedicated to quality and offers state-of-the-art buildings designed for modern living. BRAMHACORP SMART offers one of its kind smart studio apartments in New Kalyani Nagar.Under this project, BramhaCorp has created homes for tech-savvy millennials setting a trend for what luxurious automated homes should be. These homes are affordably priced and offer pristine surroundings and excellent connectivity to major points in the city.