11 Neighborhood Features And Attractions Younger Couples Value
Post written by Expert Panel, Forbes Real State Council.
Successful executives in the real estate industry from Forbes Real Estate Council share firsthand tips & insights.
It’s no secret that young couples are a big target market for real estate professionals. If you are looking to sell to millennials, it’s important to know what they’re looking for in a property. But features of a neighborhood—such as access to public transportation, shops and eateries—can be just as important to a potential homeowner’s decision as features of the home.
To find out more, we asked members of Forbes Real Estate Council what kinds of neighborhood features younger couples are seeking in particular when considering a home. Here’s what they had to say:
1. A Sense Of Community
What I have noticed drawing younger couples into neighborhoods are well-organized events like food truck Fridays, movies in the park or other social engagements. In today’s busy society, it is hard to make new friends. Communities that embrace the desire to feel a sense of belonging and provide opportunities for people to connect with each other will have a stronger pull. – Katie Brown, Downtown Katie Brown, Realtor
2. Transportation Options
Transit is becoming more and more important as millennials are taking longer to get their license, thanks to services like Uber, and also becoming more environmentally conscious. Ali Jamal, Stablegold Hospitality LLC
3. A Curated Lifestyle
People are accustomed to curating every detail of their lives to be aesthetically pleasing and match the lifestyle they are creating for themselves. Local haunts should meet those expectations, since a dingy coffee shop with beige carpet is no longer up to par, or worth leaving home for. – Beatrice de Jong, Open Listings (YC W15)
4. Trendy Grocery Stores
The most important indicator is the grocery store. The grocery store premium is real; the moment a trendy grocery store is opened in an urban area that didn’t have one is what I call the gentrification inflection point. Younger couples know that when a catalyst for more development, such as a grocery store, come in, demand will increase for the area, increasing the value of their purchase. – Ari Afshar, Compass
5. A Good Education System
I think as more and more millennials begin to start families and move to the suburbs, we’ll see the school system ratings rise to the tops of their lists. There’s been a deferment of sorts to family formation among millennials, and as the economy improves and savings accounts grow, good neighborhoods with great schools are going to rise in importance. – Marc Rutzen, Enodo Inc.
6. Conveniently Located Amenities
Clearly, there are different strokes for different folks and I wouldn’t want to generalize, but many younger couples are looking for convenience in all its forms. We’re all so strapped for time and want easy dining, shopping, schools, recreation. Location is key. How far to the grocery store? Can my kids walk to school? Can we enjoy a great meal with friends that doesn’t require a long car ride? – Thomas McCormack, Resources Real Estate
It is tough to pigeon hole any age group into one feature. However, connectivity is a critical factor for many age groups, and it is most important to younger adults who have existed in a world where internet access has become essential. Given the necessity of internet access and an increasing number of people working from home, stable and reliable internet service is an essential feature. – Michelle Ames, HorsePower Team Texas/Independent Realty
8. 5G Service
Reliable and fast internet is probably the No. 1 feature. As 5G rolls out, we may see even more shift in demand and where it is trendy to live. However, due to costs and aesthetics, 5G may not roll out where you’d expect it to arrive first. – Kent Clothier, Real Estate Worldwide
9. Plenty Of Nearby Attractions
The prospect of not having to get back into the car after the work week seems to be a common dream of many young couples these days. It’s no longer how much you have but where you have it. Access to breweries, restaurants, shopping and more is enticing the younger generations to give up square footage for convenience and many developers, in a lot of urban settings, are happy to accommodate. – David Bolinger, The McDevitt Agency
10. Cultural Experiences
A walk score is a huge factor with younger couples who are looking in more urban markets. Walking to bars, restaurants and local shops/businesses such as nail salons, bakeries and hair dressers, is extremely appealing. Walking allows couples to enjoy a more cultural experience and bonds them more to the neighborhood. In the burbs, ratings of the schools and proximity to grocery stores are key. – Caroline Kane, CKR Property Management, LLC
11. Neighborhood Identity
Many young city buyers today seek a lifestyle that is modern and on the move. They want a distinct neighborhood identity to own and reflect that, which is surrounded by big urban infrastructure. Personal preferences vary, but bikes, ride shares and CTA stops are a big focus for buyers seeking a short commute in exchange for more balance in life. Convenience wins over extravagance these days. – Yana Nirshberg, Haus Mortgage