The new 2019 Pew Research Center survey shared something most know all along: the millennials like social media. The data suggested that about 90% of those between 18 and 29 years old are on Facebook, Instagram, and Twitter, to name a few. The older millennials took second place at 82%.
Considering the dangers that come with social media, it’s easy for anyone to conclude the Y generation is not concerned about their security or privacy. But is this true? How does the truth reflect in their choices when it comes to homes?
Millennials Are Also Security Freaks
If you’re trying to sell a home to the millennials, you might want to invest in metal fence panels for sale as part of your curb appeal. This growing market, it turns out, strongly values their security and privacy.
In a 2019 survey by Rivetz, a mobile security solutions company, more than 60% said they’re willing to let a friend borrow their vehicle for 24 hours. However, the same percentage mentioned they wouldn’t let anyone borrow their mobile phone for the same duration.
About 90%, meanwhile, considered it essential or extremely vital to prevent another person from accessing their mobile phone data should they lose their device. The millennials were still more likely to sign up for online banking using their devices than other generations. But 91% also said that they are responsible for their data security. This explains why they are also the ones who might activate two-factor authentication.
How about homeownership and security and privacy? The older ones tend to prefer smart homes. Over 37% of the owners between 27 and 36 years old have already bought properties with this technology. More than 55% would like to own one.
The younger group, however, is not keen on these types of technology due to a possible invasion of online privacy and security.
This doesn’t immediately mean the older millennials are less interested in security. After all, with smart homes, they can keep track of the condition of their properties anytime, anywhere.
Why Millennials As Homeowners Matter
Homeowners who don’t want the hassle of improving their curb appeal or adding fences might choose to dismiss the millennial market. This, though, can be a severe mistake.
For one, the Y generation now comprises the most significant demographic in the United States. This year alone, they will surpass the population of baby boomers, which will then continue to decline. There will also be more millennials than X generation, which will beat the baby boomers by 2028.
A study, meanwhile, claimed that 89% of the millennials are actively looking for a home or want to own one. They are even buying second homes, according to Resolution Foundation. They are even just as likely as the senior population to purchase multiple properties.
This could be because millennials tend to want to grow their money. In the data by Morning Brew and Visual Capitalist, 89% of them want to invest. Over 23% like to earn a master’s degree, perhaps to increase their income.
Millennial homeowners can also struggle financially, including buying a house. But it doesn’t make them any less valuable as a market. If you want to sell a home fast, you might want to offer one to them, hopefully with a fence or another form of security.