As millennials continue to mature, earn higher wages, and increase their purchasing power, so does their ability to influence the status quo. From social norms to political issues, millennials have effectively advocated for changes that can be broadly felt in our lives today. The same can be said for their influence on the real estate market, which millennials have recently entered in great numbers. According to the 2018 Home Buyer and Seller Generational Trends study from the National Association of Realtors, millennials held the highest share of home buying activity out of all other generations for the fifth consecutive year. However, realtors are discovering some features that appear high on the millennial home buyer’s wish list are quite different from what they’ve come to expect from other generations. These splurge-worthy features are redefining the meaning of luxury in homes.
The experience economy. Unlike generations before them, millennials place a greater value on experiences than material good. Instead of splurging on a designer handbag or expensive watch, millennials are far more likely to treat themselves to a day at the spa or a memorable night out. Their interpretation of luxury is closely connected to enriching their lives rather than amassing material goods. This translates into the real estate market in a variety of ways.
Less space, greater functionality. Millennials tend to prefer smaller homes with fewer rooms, but want an inclusive living area large enough to share with friends and family. They are willing to sacrifice square footage for artisan craftsmanship, notable architectural design, versatile floor plans, and open concept living. They would rather have a little of something they love than a lot of something they feel is only average.
Smart homes. Digital connectedness is extremely important to tech-savvy millennials. Fast internet access, smart appliances, and homes that are networked for AV systems, security features, thermostats, and voice-controlled features are high on the millennial shopping list. While these features may seem extravagant to older generations, millennials have grown up with and relied on digital technology most, and in many cases, all of their lives.
Think green. Protecting the environment is an important cause for the millennial generation. Therefore, it comes as no surprise that they want their home to be as environmentally friendly as possible. Millennial home buyers are quite savvy when it comes to knowing what to look for. Location, walkability, sustainable building materials, energy-efficiency, and LEED certifications are a number of green features that millennials would like to have in their new home.
Engaging communities. Millennials yearn to feel connected to their community. That is why so many of them are seeking homes in urban environments where there are often greater opportunities for community involvement. It’s important for many millennials to live in a neighborhood where nearby gathering spots are plentiful. Parks, festivals, pop up shops, and local cafes and restaurants are ideal settings to experience their neighboring community in meaningful ways.
The great outdoors. Greenspace, both public and private, will be high on the millennial home buyer’s wish list. Millennials have a strong desire to extend their living area beyond the physical walls of their home. Balconies, courtyards, and rooftop decks are highly sought-after features in their home. Nearby parks and biking and hiking trails support their active lifestyles and provide even more opportunities for millennials to interact and connect with their community.
We partner with over 990 Sotheby’s real estate offices in 72 countries. Each month we showcase a home from one of these partners. Our feature home this month is located in Montreal, Canada.
Montreal is an astonishingly beautiful city surrounded by the St. Lawrence River and named after Mount Royal, a prominent landmark that stands 764 feet above the city center. Mount Royal is home to residential areas, several of the city’s founding institutions, vast cemeteries, neighborhood parks and the magnificent Olmsted-designed Mount Royal Park. With 11 universities in the Greater Montreal area, the city enjoys its reputation for higher education and academia. Montreal boasts a dizzying array of culinary delights, art and music venues, and notable architecture, making it a preeminent destination for those seeking cultural enrichment. A favorite pastime of Montrealers and visitors alike is exploring the city’s unique neighborhoods, especially on foot or bicycle. Each neighborhood has its own distinct personality, intriguing characteristics, and different offerings. Montreal is an extremely livable city, consistently earning high marks on qualities used to measure quality of living. Residents here truly embody the spirit of the French expression savoir-vivre meaning, quite simply, they know how to enjoy life.
Montreal’s thriving downtown is a busy hub of shoppers, office workers, and students from McGill and Concordia universities. While downtown Montreal remains the commercial and business core of the city, it is also home to the Museum Quarter, the entertainment district, sports venues, and renowned shopping and dining. RÉSO, commonly referred to as “the underground”, is a sophisticated underground pedestrian network with over 120 access points downtown. It’s the perfect way to explore the city center during inclement weather.
Located in the heart of downtown is this beautiful 2 bedroom, 2 bath residence with stunning panoramic city views is situated on the first level of Le Crystal PH. Floor to ceiling windows flood this well-designed space with natural light. The two spacious bedrooms are separated by the living area, offering more privacy for you and guests. Incredible amenities and exceptional location delivery a truly luxurious urban experience.
For additional information, click here. You may also contact us at 513.321.6000. We will be glad to guide you.
Study of a Male Nude, Separate Study of his Head, 1537-1538, Michelangelo
The Cleveland Museum of Art presents Michelangelo: Mind of the Master which brings to the United States for the first time, a group of drawings by Michelangelo. These are courtesy of the remarkable collection of the Teylers Museum (Haarlem, The Netherlands), which was formed in the 18th century. This, in part from the collection of Queen Christina of Sweden (1626–1689). Additional drawings from the collections of the Cleveland Museum of Art and the J. Paul Getty Museum round out the display. Explore Michelangelo’s methods and major projects, as well as the fascinating history of the ownership after his death. September 22, 2019 to January 5, 2020.
Now through October 27, CAC will be showing A Cabinet of Anticipation: Saya Woolfalk. Born in Gifu City, Japan to a mixed race family marrying Asian and African American heritage, Saya Woolfalk lives, works, and performs the provocative concept of cultural hybridity. Her trans-national background informs colorful, multi-disciplinary work which explores the future of racial and cultural cross-pollination. Marrying totemic iconography with technicolor surrealism, science fiction and fantasy, Woolfalk imagines a fictional race of women able to alter their genetic make-up and merge with the natural world.
Get Into The Groove is the 80’s theme for Art After Dark at the Cincinnati Art Museum on Friday, September 27 from 5 -9 pm. Bust out your spandex, leg warmers and acid wash jeans! popular silent disco is back, and this time, we’re kicking it 80’s style. Enjoy food for purchase from Fusian and Busken Bakery, specialty cocktails and docent-led tours. Free admission.
CONCERTS
September 20-21: Richard Strauss’ Alpine Symphony leads us to the summit of experience and music from Cincinnati native Bryce Dessner will take you home. At the Summit: Strauss + Dessner at Music Hall presented by CSO.
September 21: Crash Test Dummies reunite for North American tour to celebrate the 25th anniversary of seminal album God Shuffled His Feet at Memorial Hall.
September 25: Grammy award-winning artist Patty Griffin, one of the most consequential singer-songwriters of her generation, will be performing with Scott Miller at 20th Century Theatre.
September 27: Taft Theatre presents Tommy Emmanuel, an Australian-American guitarist who is highly respected for his unique fingerstyle technique and energetic performances.
September 28 – 29: Join the celebration of Beethoven’s 250th birthday with the CSO and violin phenomenon Anne-Sophie Mutter as they play the composer’s beloved Violin Concerto at Music Hall.
October 2: Memorial Hall presents Lee Ann Womack who will perform songs from her new album The Lonely, The Lonesome & The Gone – a breathtaking unique hybrid of country, soul, gospel, and blues.
October 4-6: Marvel at the music in this incredible journey of America’s Wonders in 3D presented by Cincinnati Pops Orchestra at Music Hall.
October 15: Grammy Award-winning singer-songwriter Macy Gray brings her soulful R&B sound and funky spirit to Ludlow Garage.
October 18: The Cincinnati Chamber Orchestra and Vocal Arts Ensemble join forces to present three choral works by Vivaldi and Fauré that will showcase the acoustical splendor of the Christ Church Cathedral.
THEATER
September 13 – 29: Mariemont Players presents Is He Dead? a comedy adapted by David Ives.
September 19 – 22: Xavier University presents The Curious Incident of the Dog in the Night-time at Gallagher Student Center Theatre.
September 26 – October 13: Incline Theater presents Rock of Ages, a five Tony Award-nominated musical homage to the 80’s.
October 11 – November 2: This Halloween season, murder, mayhem, and mutilation abound, as Cincinnati Shakespeare presents Titus Andronicus.
Oct 12 – 13 & 18-20: The Children’s Theatre presents the world-premier musical adaptation Casper, the Friendly Musical at Taft Theatre.
Like many US cities that experienced rapid growth during the late 1800s through the early part of the 20th century, Cincinnati is rich in historic homes
While the popularity of these older homes had waxed and waned over the years, recently there has been a growing interest among buyers who appreciate the lifestyle of living in a historic home.
What attracts people to historic homes? If you asked several residents of historic homes, you will likely get several different answers: quality craftsmanship, intriguing spaces, artisan details, unique history, and alluring beauty, to name a few. There are also vast differences in the sorts of details, spaces, and craftsmanship found in various architectural styles. For example, ornately carved wood is a hallmark of Victorian homes, but rarely seen in Mid-century modern. Columned front entries are characteristic of homes built in the Federal and Georgian style, but uncommon on Tudor-style homes. However, there is an underlying theme among those who have a passion for historic home living. What they all possess is a strong desire to live in spaces that are inspiring.
What makes a home historic? The answer can be complicated as there are varied interpretations of what makes a house a historic home and there are different governing bodies that have the authority to declare a home historic. Generally the rules set by the National Register of Historic Places are considered to be the gold standard: the house must be associated with a significant historical event, the house is associated with the life or lives of historical figures, the house holds important information about a certain time period, or the house is a fine example of a historical significant architectural movement or style.
There are other factors to be considered. Many cities and towns have neighborhoods or districts that have been deemed historic. In those cases, homes located within that district can be accurately described as historic. To make matters even more confusing, it is quite common to hear “old house” enthusiasts refer to a home as “historic” even when the house has no official designation. While this unofficial classification is more loosely defined, typically it refers to a home of at least 50 years old that still bears most of its original characteristics and features.
Where can historic homes be found in our area? From the outer most suburbs to the heart of the city, you can find homes that meet any or all of the criteria described above. There’s a wide variety of architectural styles reflected in our area’s homes and dozens of neighborhoods where you can find them. Urbanites will want to look in Prospect Hill, Walnut Hills, and East Walnut Hills on the Ohio side of the river; Ludlow, Covington, Newport, Bellevue, and Dayton on the Kentucky side. A little farther out, but still considered “in town” are the communities of Hyde Park, Mt. Lookout, Columbia-Tusculum, Linwood, Norwood, Northside, Clifton, North Avondale, and Paddock Hills. For those who long for a small-town feel, be sure to look in Glendale, Wyoming, Lebanon, Milford, Westwood, and Sayler Park; and Ft. Thomas in Kentucky.
Buying or selling older homes can often require additional knowledge and considerations. Given the large inventory of historic homes in our area, our agents have been successful in helping many clients who have sold and purchased historic homes. They are happy to help you as well.
