Millennials are now a target market for the residential real estate industry. Millennials are those born between 1981 – 1996 according to Pew Research Center. In a nutshell, four out of five millennial buyers can go without wine cellars, elevators and laminate countertops. On the flip-side, they want laundry rooms, hardwood front exteriors, patios and garage storage.

The 2018 study, put  out by the NAHB Economics team, surveyed prospective buyers on 175 different features. Below is a list of the 10 most wanted features and the 10 less desired features for millennials.

When surveyed millennials had a distinct list of desired features they want in a new home. First on the list is a laundry room. Eighty-six percent of millennials said a laundry room is a must. Next were hardwood floors coming in at 81% as well as a patio at 81%. Garage storage comes in next at just 1% lower at 80%. A walk-in pantry, exterior lighting and ceiling fans all ranked at 79%. The last three on the list were all at 78% which includes a front porch, table space for eating and a double sink.

Millennial least wanted features ironically are the most desired in the baby boomers and seniors. Elevators made the number one slot on the list at 47%, a feature that baby boomers and seniors would benefit from. A unique feature from most, cork flooring, came in at second at 33%. A wine cellar, a feature many think is luxurious, came in at 32%. Three features that all came in at 30% are laminate countertops, golf course communities as well as a high density community. A feature for animal lovers, a pet washing station, came in at 29%. Two features at 27% are laminate flooring and a master bath that only features a shower stall. Last on the list for least wanted features is dual toilets in the master bath which came in at 27%.

As millennial’s age there will be a shift in their preferences. This has already been the case as seen in the amount of bedrooms desired. In 2007, 80% of millennials desired one full master bedroom suite along with three standard bedrooms. This has shifted as shown by the study in 2018 which reports only 60% desire one full master bedroom suite along with three standard bedrooms.

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When I think of downsizing, I think of empty nesters. These days that is not always the case. Many families are looking for a less materialistic lifestyle. There are many benefits to living in a smaller home such as less energy cost, less time to clean and overall are just less expensive. If this is a route you might want to go, here are 10 tips to alleviate the daunting task of downsizing.

Never “guesstimate” when downsizing. Calculate, by measuring the space you are working with and the furniture you will be adding to the space. Like an architect or interior designer, draw the space on a scale plan and see what will fit and what will need to go.

Take your time! Planning ahead and taking your time can make the task of downsizing a lot easier. Most of us have attachment to our worldly possessions so it is an emotional thing to get rid of some of our treasures. Take a few months, if time allows you, to go through your stuff. You will avoid the mad rush of getting the job done. If you are in a rush, you might throw things away you will need or not get rid of enough and have to pay for storage.

Make an itemized list of everything. This way there is no discrepancy with how much and what you are working with. Organize the list by three categories which are keep, give away and unsure. When making the list, go room by room starting with the smallest room such as the pantry or laundry room. The unsure can be looked at again after you have gone through everything and determined how much you have already gotten rid of.

Look at what you actually use on a daily basis. This helps when you are struggling with downsizing your possessions. To do this, take tools and utensils out of where they are stored and place them in a box. When you use them, put them back in their normal storage space. After a month, if the box has something in it, it means you do not use it on a regular basis. This will help ease the decision of getting rid of something.

Rethink the way you might use things that only come out on special occasions. For example, you have a set of tableware that is used for special occasions. Keep that tableware and use it daily. Donate your everyday tableware. Keep just one set of things such as plates, bowls, and cutlery.

Recycle your “give away” items. You can do this by selling them, giving them away or donating them. Remember one man’s trash is another man’s treasure. For the more expensive items try to sell them either online or in a yard sale. For other items such as clothes, books and smaller items, donate them. There are many charity shops always looking for these items. Give things away to friends and families. If you still have stuff left over, stick it in the front yard with a free sign on it.

On moving day ask for help. Sometimes we get wrapped up in the emotional side of such a big change and a helping hand can help us. Whether it be a soft shove in the right direction to help you decide what to give away or help on moving day.

Keep your good habits up. Once you are settled in your smaller home, treat it as your sanctuary. Do not fall back into old habits and fill it up with clutter. A less materialistic lifestyle can be very liberating.

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