Millennials Are Finally Moving to the Burbs

Look who’s driving the housing market! For years, builders and Realtors have been agonizing over when millennials were going to leave their parent’s basement and start buying homes. Last year, the tide finally turned, and according to Zillow’s 2016 Housing Trend Report, millennials have become the dominant force in the housing market. In fact, half of U.S. homebuyers are now under the age of 36.

Ashish and Fairy Dahria are in the process of building their first home at Hillcrest Village in Southington. Ashish works for ESPN and Fairy is employed at Cigna. “Just call us DINKS (dual income no kids)” said Ashish, who is in advertising and familiar with the lingo.

At age 32, Ashish and Fairy were looking for a smaller, more affordable home in a desirable suburb, and they prefer new construction. It was a tough challenge, until they found Hillcrest Village. The new two story Tiverton model “suited our needs” according to Ashish. It had a walk-in closet, laundry room and drop zone, and at $349,900, it was affordable enough for them to realize their dream of buying a new home.

“We will have a lot of family coming over, so we love the open floor plan and private back yard,” said Ashish. The young couple visit every Saturday to see the construction progress on their new home, and they will be moving to Hillcrest in April.

Thirty-something schoolteachers, Anthony & Stephanie Ciuffo, bought the Fulton model at Hillcrest Village.

"Our friends, Keith and Vanessa got pregnant and were one of the first buyers at Hillcrest,” said Anthony. “When our second son was born, we decided it was time to purchase, and we chose Hillcrest too. What you get in the standard package here is much better than the other subdivisions we saw. There’s a lot to do in Southington; the school district is good; and last month my gas bill was $29.”

According to Zillow chief economist, Svenja Gudell, “Millennials delayed home ownership, just like they delayed getting married and having kids, but now they’re making very similar decisions to their parents.”

Millennials and empty nesters have a lot in common

There’s another demographic who favor new, smaller size homes, and Hillcrest Village buyers are split right down the middle between millennials and empty nesters.

In a repeat of 1940’s old-fashioned neighborhoods, where grandparents lived down the street from their grandchildren, the parents of two young couples at Hillcrest Village have purchased homes there too. One couple are both residents at UCONN Medical Center, and expecting their first child. Her parents are relocating from California, and chose a lot adjacent to theirs.

Terri and Steve Eddings, remained in Colorado for seven years after their son moved to Queens, New York, but once he was married, they decided it was time to get closer.

“Location was the number one priority, but we couldn’t afford Long Island”, said Terri, “and we liked Southington. It’s close enough to New York and an awesome 15 minute commute to Steve’s job in Cromwell."

Like their millennial neighbors, Terri and Steve don’t want to spend weekends taking care of their property, so they love the small, low maintenance yards at Hillcrest Village.

Amenities over size - Both age groups opt for amenities over size in their homes, and Hillcrest delivers on their most desired features, including a separate laundry room and a mud room or drop zone, plenty of closets and gathering space, as well as luxury finishes like granite counters, tile showers and stainless steel appliances.

“The standard finishes are really nice here,” said Terri. “You don’t have to upgrade much. We talked to a builder in another development, and everything was extra.”

For Terri and Steve, who are in their 50’s, first floor living was a must. The Bolton model they chose, gave them a master suite on the first floor and another upstairs, which will be perfect for their visiting son and daughter-in-law. A 3rd bedroom will do double duty as Terri’s craft room and the loft will function as Steve’s office.

According to Terri, “it felt like home the moment we walked in.”