What do Millennials and Gen Z look for in a new home?

Also known as Generation Y, Millennials currently make up the largest age-range population in the UK, with Generation Z following just behind.

Despite the cost of housing, there is still a high demand for affordable homes for first time buyers for both generations. Following the COVID-19 pandemic, younger homebuyers are looking for some security.

What do Millennials want from a new home?

Those born to between 1981 and 1996 are considered Millennials. The older of this age bracket will be in their early forties and likely to have young families, while the youngest are mid-twenties looking to buy their first home and settle down. This age bracket usually looks for:

  • Ability to customise - a place that they can make their own
  • Space - a larger home with open floor plans to grow their family, or for more storage
  • Positive community - somewhere the feel happy to settle down
  • Low-maintenance home
  • Walking distance to public amenities such as coffee shops and schools

What does Gen Z want from a new home?

Those born between 1997 and 2012 are considered Gen Zs and will be in their early to mid-twenties. Due to the high use of technology, and on-demand information, Gen Z will typically be looking for: 

  • Location, location, location - homes that are close to work and leisure facilities
  • Function - affordable and minimalistic with low risks
  • Persuasion - being one of the most risk-averse generations, they may need to be persuaded to feel confident with homes they are considering 
  • Diversity - isn't looking for a typical "picket-fence" house

Both generations would like as much information about a property as possible to reassure them, with access to a lot of this information being online. Interestingly, according to Architectural Digest, 39% of Millennials say they'd feel comfortable buying a home they'd only ever viewed online. 

Recent posts

We look at how to get the best Buy to Let mortgage rate, what's in store going forward, and options as a landlord with increasing costs.

Throughout this past week, lenders have continued to reduce their mortgage rates giving borrowers in the UK some welcome news following the change in global tariffs under US President, Donald Trump.

Did you know that buying a house, or relocating is in the top 10 most stressful life events?

Stress of course is an unavoidable part of life and there are many reasons why people experience stress, not just buying a house!

There are lots of effective ways to manage and reduce stress, check out our tips to help you.

With the stamp duty relief ending in England and Northern Ireland, we have listed the top 10 cheapest areas for first-time buyers as published by Rightmove. 

Are you looking to purchase your first home but unsure where to begin? Here are some tips to get you started.

Choosing which fixed rate to go for has been a dilemma for many of our clients so far this year. There really isn’t a right or wrong answer, but below we will look into the pros and cons of a two-year and five-year to help you make the right decision for you.

Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.

Call us for more information: 01628 507477 or email: team@mortgagerequired.com.

According to Rightmove, a whopping 500,000 UK homebuyers are rushing to finalise their home purchase before the new Stamp Duty rules change in April.