Perhaps you haven't noticed, but the members of the millennial generation have been changing the face of housing and transportation in Canada. Instead of a large house in the suburb with a white picket fence and a long commute, studies have shown that millennials are looking for housing that will allow them to walk, ride bikes or use public transportation to get around. That means if you are trying to sell a condo that is either close to or in the city, your unit will probably be very popular with this generation. So why is this change occurring?
Millennials are Ditching Their Cars
Everyone needs a car, right? Not according to many in the millennial generation. There are a number of reasons why millennials are ditching their vehicles, including:
- A preference for mass transit. Many millennials are choosing to live in areas with easy access to mass transit.
- Other options. Today's technology has made it much easier for the car-less to find transportation options. With the Internet, for example, millennials can order a ride-sharing car to come pick them up, often at a fraction of the cost of a standard taxi. In addition, there are also car and bike sharing programs available today that allow users to rent a vehicle for short -- or long -- jaunts.
- Cost. Some millennials no longer want to waste their money on car payments, insurance, fuel and -- if applicable -- parking spaces.
- Environmental reasons. There is a big interest in sustainability in the millennial generation, so many are choosing modes of transportation that don't pollute, including bikes, buses and walking.
- Delivery services. Today most everything is available online. Need pet food for your dog or groceries for you? You can have those things delivered right to your doorsteps.
They Want Environmental Friendly Housing
The tides are reversing. Instead of people fleeing the cities for the suburbs, the millennials are moving back to the cities. In fact, millennials are fueling a huge demand for condos in Canada's big cities. For example, the number of condos sold in Toronto in September 2014 rose by 20 percent as compared to sales from the same period in 2013, according to Business News Network.
Another popular housing concept is known as a pocket development. These are developments in the suburbs that offer everything its residents will need, such as restaurants, entertainment and shopping, within walking distance of housing, which are typically condo and apartment units. If you have a condo unit in or close to the city or that is located in a pocket development, it's important to market to this generation specifically in your advertisements by:
- Touting any commuter-friendly features that your unit boasts. For instance, mention in your ads if your condo is near a mass transit station.
- Boasting about any sustainable options your unit or building has. If your building, for example, boasts solar power panels or uses plants on its roof for extra insulation, that may be of great interest to millennials shopping for housing.
- Listing fun places to go, including bars, retail stores and restaurants, that are within walking distance to your condo. This is especially important to the millennials who have ditched their cars.
- Playing up a condo's relatively low maintenance. Many millennials don't want to worry about mowing the grass or watering a lawn, which makes condo living attractive to this generation.
For many years, people worried that the millennial generation, which had a reputation for being very coddled, would have trouble surviving in the "real" world. Fortunately, this generation has proven the others wrong. Not only are they thriving in the "real" world, they are doing a lot to change what was wrong with it, as well, by selecting green-friendly housing and choosing more sustainable transportation options.Share