Home, Sweet (Smart) Home: When it comes to the next generation of homeowners, more than half (56%) of Millennials believe home technology capabilities are more important than "curb appeal." If a home is not up-to-date with the latest tech capabilities, 64 percent of Millennials surveyed would simply not consider living there. In addition, 84 percent of the younger Americans surveyed believe that technology is an absolute essential to have in their homes. The most sought-after tech being an energy efficient washer and dryer (57%), security system (48%), and smart thermostat (44%).
Their Home, Their Way: Millennials have a fresh perspective on furnishing a home. Fifty-nine (59) percent of those surveyed would rather have extra space in their kitchen for a TV, as opposed to a second oven, and they seek to be entertained in every room of their home. While kitchen renovations are likely to remain a top improvement priority, tech updates are highly desirable, as well. In fact, 41% Millennials would be more likely to brag to a friend about a home automation system over a newly renovated kitchen.
These findings are an extension of a 2012 Better Homes and Gardens Real Estate homeownership survey, which revealed that in spite of the recent housing crisis, Millennials are undeterred from buying a home and believe owning a home is a key indicator of success. More information on both surveys can also be found at www.bhgrealestate.com.
About the Survey
The Better Homes and Gardens Real Estate survey was conducted by Wakefield Research among 1,000 nationally representative adults, ages 18-35, between December 7, 2012 and December 26, 2012, using an email invitation and an online survey. Quotas have been set to ensure reliable and accurate representation of the adult population, ages 18-35.
Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About Better Homes and Gardens Real Estate LLC
Better Homes and Gardens Real Estate LLC is a dynamic real estate brand that offers a full range of services to brokers, sales associates and home buyers and sellers. Using innovative technology, sophisticated business systems and the broad appeal of a lifestyle brand, Better Homes and Gardens Real Estate LLC embodies the future of the real estate industry while remaining grounded in the tradition of home. Better Homes and Gardens Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. The growing Better Homes and Gardens Real Estate network includes approximately 8,300 sales associates and approximately 250 offices serving homebuyers and sellers in Canada and 25 U.S. states: Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Kansas, Pennsylvania, Maine, Massachusetts, Minnesota, Missouri, New Hampshire, New Jersey, New York, Nevada, Ohio, Oregon, South Carolina, Texas, Vermont, Virginia and Washington.
Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC and used with permission. An Equal Opportunity Company. Equal Housing Opportunity. Each Better Homes and Gardens Real Estate Franchise is independently owned and operated. For more information, please visit www.BHGRealEstate.com.
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