Millennials shop for homes differently — and more than ever, materials matter.
Picture a place not far from a city. There’s a community-oriented neighborhood full of energy-efficient, new-construction homes built with quality materials. Research shows that’s the kind of place millennials, who make up the majority homebuyers, want to live. What does this mean for your homebuilding company? One, the products you use in your homes matter to your buyers. Two, you have to actively market those materials to win homebuyers.
The millennial generation (or gen Y) — those about 34 years old and younger — makes up the largest share (32 percent) of all homebuyers — more than all baby boomers (born 1946 to 1964) combined, according to the National Association of Realtors. And more than any other generation, they look for quality materials when making a purchase. In fact, 55 percent of millennials say quality is the most important factor when choosing a product. “They expect the same high level of finish they had growing up,” Scott Davis, the regional director for Houston-based Metrostudy, tells the Houston Business Journal.
In addition, Davis says they want “small but high-quality homes” and see energy efficiency as an important priority. And why wouldn’t they? There’s less to maintain and more time for the adventures they seek. And many millennials are short-term homebuyers, looking at their purchase as more of an investment. Their desires lead them to purchase homes built with high-quality, energy-efficient materials — down to details like house wrap and weatherization systems.
Engage your homebuyers
The internet has changed everyone’s buying habits, but none more so than millennials, the oldest of whom were just finishing high school when Amazon and Angie’s List came online. They’re used to researching everything from the most eco-friendly products to efficient appliances. Thirty-four percent of millennials turn to social media to make product purchasing decisions, which shows the importance of brand awareness and reputation in today’s market.
These details can help you make inroads with this generation of homebuyers. For example, take house wrap: DuPont™ Tyvek® HomeWrap® is the most recognized house wrap brand. It has the energy-efficient reputation millennials desire, and signals to them that a home is smartly built with high-quality products that can help lower utility and maintenance costs. And what better way to protect an investment than with a product that will keep that investment protected from the elements?
Millennials ask for what they want. They want to be engaged and involved in the researching, buying, and building or remodeling. They trust brands that reach out to them in an honest way and reward their loyalty. They want the best products, and they want those products to come from companies that care about and share their generation’s values.
More than any other house wrap brand, DuPont™ Tyvek® meets the needs and values of the evolving homebuyer. Let them know what’s behind your walls: Learn more about fully leveraging building materials in the home-marketing process by connecting with a Tyvek® Specialist. This expert insight can help you tap into the unique offering of products, knowledge, and services offered by DuPont™.