Millennials: We want fire pits, not pebbledash
KITCHEN islands, outdoor fire pits and polished concrete floors are the new must-haves for millennial homebuyers – while pebbledash walls and net curtains are on the way out.
And instead of focusing on nearby GP surgeries and schools, first-time buyers look for an area where they can take good pictures for Instagram.
A survey by M&S Bank also found that more than one in ten prospective buyers do not want a traditional two-up, twodown property.
Instead millennials seeking to get on the ladder want unusual, eye-catching homes, and will even pay an average £100,000 extra to live somewhere photogenic.
The study of 2,000 people found that more than a quarter of millennials would not think about practical issues such as potential council tax. A fifth did not even care about good schools nearby. But nearly three quarters would pay extra for a property in an area with potential for snaps to post on social networking sites.
Around 92 per cent would settle for a smaller or less practical house if it was in a desirable neighbourhood. Paul Stokes, of M&S Bank, said: ‘Our research has highlighted an important trend that’s making a huge impact in the housing market – a shift in behaviour we’ve named The Instagram Effect.’
Half of under-35s said their dream home would be near a good restaurant; 42 per cent needed green space close by; and 39 per cent required a gym in the area. But pebbledash walls, bright carpets, net curtains and a conservatory were all turn-offs. Instead, millennials – who were born in the 1980s and 1990s – want loft conversions, polished concrete floors, home office spaces and even a fire pit in the garden.