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Millennials—the 77 million-strong generation born between 1981 and 1997--this past year surpassed the Baby Boom as the United States’ largest population cohort. This burgeoning generation currently represents one of every three homebuyers and we expect that this new and emerging demographic will reshape economic, business, and geographic marketplaces for decades to come.
The Responsive Home project, a collaboration between TRI Pointe Group’s Pardee Homes and Hanley Wood’s BUILDER magazine, is a discovery lab for research, design and building practices to understand and activate the Millennial home buyer, now and over the next several years as they become of home-buying age.
As a result of this collaboration, two concept homes, located within the Inspirada master-planned community in Henderson, Nevada were unveiled at the IBS show in Las Vegas in January 2016. These innovative homes are fun, quirky, and positively ooze personality, thanks in no small part to architects Bassenian Lagoni, landscape architects Anderson Baron and celebrity creative director Bobby Berk, who infused the designs with youthful energy.
By design, the Responsive Home answers present and longer-term ownership living needs, providing a new home that young buyers can attain, personalize, adapt to their needs, and live in a connected, accessible way. Available in two floor plans, the Contemporary Farmhouse and the Contemporary Transitional blend livability with modern function catering to the most important request according to younger buyers – more space, specifically outdoors.
Both home choices offer evolution-over-time floor plans with powerful indoor-outdoor workflow, technology-enabled automation, energy performance and bold design finishes. Homeowners can personalize their space in multiple ways including options for additional bedrooms, office or fitness room, casita and studio living spaces inclusive of separate home entrances, among others.
TRI Pointe Group and BUILDER teamed with Ketchum Global Research and Analytics, conducting an online survey among 503 Millennials age 25–34 with a household income of at least $60,000 who either intend to purchase a home in the next 12 months, or currently own one.
Among the survey's chief findings are the age group’s interest in maximizing space and affordability while maintaining a level of community typically found in urban environments, and capitalizing on opportunities to personalize their homes.
When incorporated into community and home designs these key differentiators can greatly increase desirability for young adult buyers:
1. Millennials want the walkability of an urban environment—while living in a spacious, family-friendly, customizable suburban home. Select new neighborhood locations with walkability to daily needs and highlight nearby grocery stores and parks in your marketing. Walkability to entertainment places and schools scored slightly lower landing in the “nice to haves” category.
2. For Millennials, outdoor living space, quality construction and low maintenance are ‘must haves’. They’re also looking for more living space, open kitchens with great finishes and abundant natural light so consider open floorplans with design solutions that make spaces feel larger. Finished basements, game rooms and office spaces are less important. Millennials want their home to be personalized and are willing to allocate budget to do this. Offer attainable personalization options and choices for their new home.
3. Due to diverse and ever-changing households, home options like private entrances for multi-generational living and rental spaces, as well as easily convertible rooms for growing families, are increasingly desirable for Millennials. Gaining income from these spaces is enticing to Millennials as well. Design this flexibility into your floorplans and market these flexible features.
4. Emotional readiness is a key purchase driver for Millennials. Marketing materials and sales approach should include success stories of current Millennial homeowners as well as guidance and expertise for first-time buyers.
Award: 2016 Gold Nugget Grand Award
Contemporary Farmhouse Responsive Home - Best Custom Home - under 4,000 sq. ft.
"...this home adopted authentic traditional rural vernacular and brought it full force into the 21st century. The clever use of awnings and restrained detail, combined with thoughtful window placement make this home feel modern..."
Founding Sponsors: Andersen Windows-Doors, Carrier, Eldorado Stone, Jeld-Wen Windows & Doors, Timberlake Cabinetry, Weyerhaeuser, Whirlpool Corporation.
Sponsors: Go Tour by Avid Ratings, Broan-Nutone, Daltile, DuPont Building Innovations, Gerber Plumbing Fixtures/Danze, IAPMO, James Hardie, Kichler Lighting, Liftmaster/Chamberlain, Pavestone Co., Rinnai, Savant, Schlage, Schneider Electric/Square D, Sherwin-Williams, Solar City, Uponor/Wirspo.
We sincerely thank all of our sponsors and trade partners for bringing Responsive Home to life.
2015 Builder of the year and 2014 Developer of the year.