I would have had no idea when I originally wrote this article back in January 2020 (originally titled “Time is the new luxury”, and printed/distributed in March) that we would be hit with a global pandemic, before it was even hot off the press.
Looking back at the article, we’ve all adopted the habits of millennials, due to necessity. Could it be that this generation had already figured some things out that the rest of us had yet to catch on to?
BY JEN CAMERON
As we enter a new decade, one thing is for certain. Millennials are a growing luxury market demographic. Born between 1977 and 2000, they make up 25% of the US population.
While they have been slower to enter the housing market, they are quickly catching up and in fact, will be the biggest influencers in a whole new era for luxury lifestyle trends.
Removing the barriers of time is the most powerful luxury differentiator as this generation is putting more focus on how they spend personal time.
Movie theaters are taking steps to remove movie goers’ time finding parking and seats by offering online reservations ahead of time. Starbucks and Whole foods allow you to place your order on an app ahead of time and simply swoop in and pick up your order, avoiding long lines and waiting times. Uber’s 50-billion-dollar valuation is proof that we should pay close attention to what Millennials care about. As “the go to” for transportation it is often more convenient and cheaper than other forms of transportation.
Nearly all luxury reports show an increasing shift towards the “New Urbanism” concept. Walkability to shops, restaurants, and recreational activity is a major factor for affluent millennials.
We offer a clear vision and strategy for success, leaving no detail overlooked so that you have more time to focus on the other important priorities in your life.
With the recent addition of commercial flights out of Paine Field airport, more affluent buyers are exploring home purchases throughout Snohomish County as well as North King County. Business commutes are made easier with less commute time. Within minutes of Snohomish County, you can catch a ferry from Mukilteo to Whidbey Island (recently featured in Vogue Magazine as The Pacific Northwest Getaway to Know Now) or find yourself within close proximity to multiple ski resorts and other idyllic recreational activities.
Millennials also have an eye for holistic living and are increasingly conscious of the environment which is redefining the definition of luxury in new home building. Developers and builders have responded to this by adding sustainable home finishes such as car charging stations, solar panels and LED lighting in addition to smart home features such as keyless entries that can be programmed for Amazon deliveries or dry-cleaning pick-up times. Other home buying trends high on the list for this generation include flexible workspaces to ease commutes and health and wellness amenities such a yoga rooms and spaces for your home gym equipment. Why spend needless time commuting to a gym when you can have a personal trainer in your own home streaming through an app?
Because this market presents such a significant opportunity for home sellers, it is important to also recognize that 99% of all millennial buyers find their homes online and more than half of them purchased a home they found on a mobile device.
99% of all millennial buyers find their homes online.
Partnering with the right real estate broker who understands how millennial buyers operate digitally in the real estate space is essential to successfully positioning your property for sale.
LMS stands apart from any other brand in the real estate industry – known for our highly innovative and effective selling strategies as Luxury Marketing Specialists for premier and luxury listings where “you the client” are our sole focus and priority.
LUXURY MARKETING SPECIALIST
Real Estate Redesigned with You in Mind
LUXURY PROPERTY SPECIALIST
With 20+ years as a licensed real estate broker serving both the New York Metropolitan and Puget sound markets, Jen has been involved in over $100 billion of real estate sales as a top selling broker, passionate leader and visionary for some of the biggest brands in the industry.
HAVE QUESTIONS OR WANT TO GET STARTED?
I’m here to help. Contact me today:
425-305-9400 | JEN@LUXURYMARKETINGSPECIALISTS.COM
COLDWELL BANKER BAIN | 550 KIRKLAND WAY ST. 100A, KIRKLAND, WA 98033