A recent analysis reveals that over 52% of millennials favor smaller homes with quality amenities rather than larger homes lacking these features. While they desire more space than other generations, millennials are willing to compromise square footage for high-quality perks. Experts emphasize that homebuilders must adapt to these preferences. Notable examples, such as a couple's 800-square-foot condo, illustrate the appeal of maintaining a simpler living situation to save money and build equity, leading to more intentional home organization and spending habits.
"Buyers are willing to make compromises to find the best possible home for their families," said NAHB Chairman Buddy Hughes. "Our nation's builders are willing to meet buyers where they are."
"My wife and I bought an 800-square-foot condo in Glendale, CA, as a way to get into the housing market and start building equity," says Rodriguez.
"We have noticed we have limited the amount of unnecessary purchases due to the lack of space," says Rodriguez. "We have also felt that the smaller space has made us more intentional about how we organize our home."
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