New Phenomena with Millennial Buyers
There is a new phenomenon in Lamorinda. Millennials are walking, ubering and bike riding to and from BART. New, first time buyers are specifically looking for homes close to transportation and BART. In fact, the actual lot and foot print of the home has become less important than a convenient location. Don’t mistake me, buyers are not looking for townhomes and condo living. They want a yard, outdoor living, and a modicum of privacy; however their ideal home needs to be close to transportation.
Take note that the millennial buyer actually prefers and will pay for homes that are renovated to their specifications and move-in ready. They also understand that homes may be remodeled and converted to exactly what they are looking for. For them it has become all about “time on the road”, and valuable time directed towards their jobs and family. They are willing to wait for their ideal home.
This is good news for homeowners looking to sell who are closer to the freeway. Not to worry however for the rest of us. With such limited inventory, we will always have buyers who are willing to drive a little deeper into Lamorinda and reap the benefits of larger homes and lots and good old peace and quiet.
