12 Ways Millennials are Reshaping the Luxury Home Market

Home-ownership has always been a major milestone for Indians and the millennials are no different though they have their own set of terms and conditions. Unlike the previous generation home ownership isn’t a goal of life for Generation Y, but just a part of their high-tech, connected lifestyle as they value experiences over things. Thus, this dynamic generation doesn’t want to fit into a limited space called home and rather prefer the idea of ‘home’ to accommodate and adapt to their lifestyle. For millennials, luxury homes are largely about functionality combined with contemporary design aesthetic, convenience and amenities. From co-living to theme-based homes, here’s a look at some of the trends that are redefining the residential real estate market.

Preference for Ready to Move In: In a significant trend seen in Indian real estate over the past few years, ready-to-move-in properties are seen as a good value proposition for the discerning millennial home buyers as they get to buy what they see. The unit can be inspected before purchase and there is no risk of discrepancies with the promised layout, features, and amenities, among other important things.

IOT Enabled Smart Homes: Millennials are major consumers of digital information and technology. Technology rules every part of their lives, including their homes as they expect smart home technology to be integrated into their living spaces. Embracing the internet of things to create a smart home filled with connected devices, the new luxury homes include smart appliances, speakers, air conditioners and security systems, as well as networked audio systems for the entire house and voice-controlled lighting. Emaar Digi Homes in Sector 62 Gurgaon are IOT enabled smart home are designed to work on your Touch and Voice Commands.

• Voice & Touch enabled home automation
• Bio-metric Authorization at the main door and Video Door Phone
• Automation for Smart Mood Lighting, ACs, Curtains, TV & Appliances
• Smoke & Gas Leak Sensors in Kitchen
• Wi-Fi Router with panic button in Master Bedroom
• Smart Glass in Kitchen
• Voice Command Controlling device in Living Room
• Panic button ensures automatic intimation to emergency response services, providing a sense of security.

Location and Walkability: As millennials flock to urban areas, walkability and proximity to public transportation are highly sought attributes. Modern home buyers are interested in living in neighborhoods where they can mingle with like-minded individuals and have the option to stroll to local amenities such as local shops and/or their job, restaurants, recreational activities. Close proximity to the airport, parks, schools and hospitals is also preferred.

Energy efficient sustainable living: Energy efficient and green homes are very desirable to this generation of home-buyers. They are aware of the issues like climate change and want to live with a lower carbon footprint. So, they not only want energy-efficient sustainable homes but will also not shy away from paying extra for that. Eco-friendly features can be anything from solar panels to rain water harvesting to LED lighting etc. Conscient Hines Elevate sector 59, Gurgaon is a 4 Star GRIHA pre-certified project with solar power use, 2 chute garbage collection system with segregation of bio- degradable and non-bio-degradable waste, air-conditioning technology that minimizes ozone depleting substances (CFC/HCFC) and rain water harvesting for water efficiency.

Indoor/Outdoor Living Spaces for Wellness and Entertaining: Millennials want the option to stretch their living areas beyond the walls of their homes to include outdoor spaces. Balconies, decks, or rooftop gardens are all excellent spots to take advantage of fresh air and offer additional places like pools, outdoor grills, decks for entertaining, relaxing, and practicing mindfulness.

Concierge Services: This younger bracket of buyers seeks homes which can match their lifestyle practice and their aspiration status factor. Developers are designing plush homes that come with all the bells and whistles—from extensive 5-star lobbies and landscaped gardens to amenities business centers to concierge services and in-house butlers. Ambience Creacions sector 22, Gurgaon provides premium luxury concierge services for convenience and comfort of the residents in the double heighten grand lobby. Residents can ask for a chef, laundry services, room service and much more.

Open Floor Plans and high square footage: Young home-buyers are looking for homes that are comfortable and have modern designs. Open floor plans and layouts benefit homeowners by making the space appear larger than it actually is. A layout that’s specifically centered around eliminating some of the walls that divide rooms in traditional homes makes it more convenient to go from one room to the other. No longer is the kitchen divided from the living room or dining room. When rooms flow easily from one to another, homeowners can more effectively entertain guests, which is the reasoning behind this desire that millennial buyers have. Large windows that open and overlook nice views and large doors that open to let the outside in are great selling points.

Community and Shared Spaces: The concept of luxury has evolved too. Millennials today want to socialize and interact with their neighbors. A community that has shared spaces like parks, gyms, club houses, and community pools is a great selling point. The Signature Club at Bestech Park View Grand Spa is the USP of the residential project. The state-of-the-art clubhouse includes:

• Fully equipped gymnasium, swimming pool & kids splash pool
• Spa, massage room, jacuzzi, yoga room & beauty salon
• Indoor lounge with billiards room, cards room & library
• Multi-cuisine restaurant & multi-purpose hall
• Skating rink, table tennis, squash court & amphitheater
• Basketball court, cricket net & kids play area

Health and Wellness: Amenities such as jogging and cycling tracks, outdoor gyms, sports pitches, and amphitheaters are an integral part of any residential complex. Indoor facilities like yoga decks, Zumba classes, rock climbing and work-out areas also are important. Indoor sports complex, rooftop jogging track, and rooftop swimming pool are essential amenities that developers incorporate without any fail.

Branded Kitchen and Luxury bathrooms: Millennials want an open-concept modular kitchen along with fully fitted branded kitchen appliances, chimney, hob, dishwasher, microwave, refrigerator etc. The bathrooms too need to have amenities such as branded fittings, shower cubicles, vanity etc.  SS The Hibiscus sector 50 Gurgaon Triplex Penthouseoffers a fully fitted modular kitchen by Siemens and Hettich fittings. The kitchen comes pre fitted with inbuilt two refrigerators with vegetable basket at the bottom, microwave, oven and pan oven with an option to cook in-house pizzas all by Siemens. Siemens chimney with both side access, 5 burner cooking range, soft close drawers and cabinets. This luxury Hettich modular kitchen comes with a 10-year warranty.

All Weather Pool/Jacuzzi: Millennials don’t just want any pool. They want it to be want any pool. They want it to be full of features — think an adjoining hot tub, a lap pool with an infinity edge, or a wall with a waterfall. They also like to have nearby sit outs and pool lounges.

Pet Care: Millennials aren’t just focused on themselves: Pet amenities in luxury homes are also a common request. Central Park Bella Vista sector 48, Gurgaon offers various amenities and facilities for the pets of residents. There is a separate pet park where the residents can enjoy playtime with their pets without being disturbed and a pet hotel that offers grooming services for pets and a veterinary doctor. Residents can leave their pets at the pet hotel if they are going for few days and the pets will be well taken care of.