From Alexa devices to neutral paint colors, Gen Z’s entrance into the housing market reveals the trends that the newest generation of homebuyers is looking for. Here are some of the top items on their homebuying wish lists according to Housing Wire.
As the first generation to grow up surrounded by technology, the internet and social media, it’s no surprise that many Gen Z homebuyers are looking to fill their homes with devices. Smart home technology is especially on their radar, including smart thermostats, smart security systems, smart lighting, voice-activated assistants and more.
Gen Z likes to express themselves through their design choices and make their spaces unique to their personalities. It’s important to them for their spaces to be visually appealing. Homes with neutral colors and design elements can be enticing and help them picture how they’ll make the space their own.
Gen Z is dedicated to maintaining a healthy work/life balance, and in a post-pandemic world, many of their jobs are remote or hybrid. It’s important to them to separate their working spaces with their living spaces. Many Gen Z homebuyers look for homes with a home office or extra room that can be used as one.
Open Floor Plan
Flexibility in design and functionality is important to Gen Z. Open floor plans provide more opportunities for both. They also allow for more movement indoors, which is also something that’s especially valued post-pandemic.
Many people have realized the importance of spending time outdoors since the pandemic ended, and Gen Z is no exception. Any outdoor space is favored by Gen Z, whether it’s a patio, balcony, garden or yard.
Diversity and inclusion are important to Gen Z. They’re more likely to seek neighborhoods that have people with a mix of backgrounds. According to a study by Homes.com, many Gen Zers who didn’t grow up in diverse neighborhoods have since moved to one. In 2019, only 33% of respondents said they grew up in diverse neighborhoods, compared to 48% who said they lived in one at the time of the survey.
As an environmentally conscious generation, many Gen Z homebuyers look for eco-friendly and energy-efficient homes. Things like solar panels, recycled materials and energy-efficient windows and lights can be incentives.
Perhaps above all, Gen Z is looking for affordable housing. As first-time homebuyers who are just getting started in their careers, many have student debt and are seeing high home prices and mortgage rates, affordability is key. There are many real estate trends Gen Z is looking for, but affordability is important for them to start their journeys as homeowners.