We usually associate luxury real estate with the baby boomer generation, but there’s a huge opportunity with millennials. This younger generation makes up about one-third of the population and the interest to purchase continues to grow. Luxury doesn’t necessarily mean “large” homes to them; it means functional, creative spaces. Additionally, millennials are knowledgeable when it comes to investing real estate. They are constantly looking for ways to grow their personal wealth without the risk of engaging in the stock market.
Millennials like new construction, modern design, and large open floor plans that cater to entertaining. This is commonly seen in shows on HGTV, where the buyers purchase a fixer upper and modernize them. There are so many homes here on Oahu that are great buys for remodeling projects. We need to encourage these young buyers to buy in up-and-coming areas, target the distressed properties, and turn them into profit.