In 2020, millennials — that fascinating bunch born between 1981 and 1996 — made up the largest share of new home buyers at 39 percent. As they settle into careers, advance professionally, and require new or different space in their personal lives, that number is only expected to grow. Thanks to the boom in technological and digital innovation during the formative years of their lives, this generation is more starkly different from any other that came before it.
So the question is… how do home builders market to millennial buyers and win them over? Like any other target audience, once you understand what motivates them, you can develop meaningful and productive marketing strategies.
Make the process simple and engaging
Millennials don’t have a lot of time to waste. Whether they are multi-hyphenates, focused on their careers, or planning their next round-the-world adventure, they’re busy. When a process is as detailed as buying or building a home, break it down into smaller chunks and explain each part clearly and concisely. And make it interesting! Create engaging visual content like short-term video or animated explainers.
Events are also a great way to introduce millennial homebuyers to your product and process. Host a targeted event for first-time buyers when they can explore a community, gather information at their own pace, and talk to others about their experiences. Pay attention to the details – like having a DJ instead of piped in music, or incorporating fun party elements – that will connect with your audience and make it memorable.
Be authentic and relatable
Millennials notice and care about your brand — it’s important! They have high expectations of companies and can spot inauthenticity from a mile away. They will discount your company faster than any other generation if your brand doesn’t align with their standards. From the food they eat and the shoes they wear, to the car they drive and the home they live in — millennials want everything in their lives to reflect their values. So ask yourself…
What does your company stand for? Highlight values like diversity, equality, community, kindness, and sustainability – all things that many millennial homebuyers care deeply about.
What are the benefits of your home, besides just shelter? Do you offer a smarter home — to give homeowners more time to do what they love and what makes them happy? Are your homes functional and flexible — so that no matter what direction their life takes (kids, WFH, a new hobby or side hustle), they know that their home can adapt to their lifestyle? Does your home offer a cleaner indoor environment – so that contaminated air is just one less concern? Think about not just features, but how your homes will improve their day-to-day lives.
Millennial Homebuyers Are Not All The Same
Millennials value individualism and personal self-expression. Highlight how your homes can be customized or personalized, even if it’s small details like fixtures or paint color. If it doesn’t make sense in this market to offer fully customizable homes, consider offering curated design packages that make financial sense for you, but still allow them to put a unique stamp on their homes right from the beginning. Remember, millennials never want to sacrifice quality, design, or function. Millennials grew up in an age when anything was possible, so they want it all!
Don’t compromise on technology
Millennials are the first generation to have grown up with computers. From shopping for a pair of shoes to learning obscure facts about the world — technology has made it all fast, easy, and accessible. That’s how the systems in your home should work, too. Millennials want no shortcuts – they know what’s available in tech, how to use it, and they want it in their homes. Not just a feature here or there, but a fully integrated smart home that works harder for them than they do for it. Speed and convenience are the name of the game.
Focus on health
Millennial homebuyers are more health conscious than any other generation. Healthy food, water, and air quality are important to this group – and there’s at least one area (if not two) where home builders can help. Indoor air quality is a hot topic because so much information has come to light in the last few decades about toxins and pollutants in the air we breathe. From whole-house air ventilation systems to low VOC paints, millennials appreciate the details that will help them breathe easy inside of their own homes. Water quality in the home is also an area where builders can highlight their commitment to health.
Make it easy to share your content
Sharing is caring, and millennials love to talk about what’s important to them. Make it super easy by creating content that’s great quality, beautiful, and highly shareable. That might mean formatting every image into 1080×1080 for your Instagram feed or an animated 1080×1920 for IG Stories.
There may have been a time when millennials were the future. But they are very much here NOW with plenty of buying power. This is the largest buyer demographic for new construction homes, so it’s time to align your homes and your message in meaningful ways that resonate.
For more information about marketing new homes specifically to millennial homebuyers, please reach out!