28 Apr Tech Millennials Advance Advocacies with their Rental Choices in Silicon Valley
There are two types of millennials in Silicon Valley. Those who come here for work as professionals and those who are in here in the summertime — the interns. If you can’t place what age groups millennials are, they are in the 22- to 36-age range.
Here, they comprise a huge part, if not the majority, of the working population. Many of them are rising up the ranks to become not just managers, but corporate executives. Others are preferring to set up their own businesses, and in places like Silicon Valley, it is not unusual to see a lot of people in their age range running startups as CEOs. Their average pay ranges from $80,000 to $120,000.
Even interns here earn a lot. Many of them get paid nearly $6,000 a month. On top of that, they enjoy all the perks of free food and free rides to and fro their place. It’s not surprising then why an intern would not balk at the idea of paying $1,500 a month in rent.
So with financial mobility and professional or entrepreneurial advancement come the ability to own or rent a home, one that reflects the millennial’s lifestyle, their aspirations, and sometimes, their advocacies.
According to New Home Source, about 92 million of these young American adults will soon be exploring living spaces that they can make their own, leaving their imprint on everything from design to the accessories.
The following preferences, culled from observations and/or reports from property developers and real estate brokers, gives a solid idea of what they’re looking for.
New Home Source points out that, regardless of their budgetary constraints, millennials want a home they can feel comfortable in — with respect to their privacy. The design has to be “smart” and “stylish”, and if possible, personalized.
The days of one classic-elegant-design-that-fits-all are going the way of the fliphone, and some housing accommodations are taking notice. California Corporate Housing, for example, can enhance its furnished apartments in Northern California to reflect the cultural tastes of the assignees living in them.
It can also rework their aesthetics to embody the personal values or hobbies of a tenant, such as a tennis buff who wanted to live and breathe Wimbledon in his rental.
A home office
Regardless of where they work, most millennials are accustomed to the mobile lifestyle. They meet with clients in virtual conferences, whip up a report on a long flight, and once in a while, will opt to work at home instead of their private office cubicle.
The reasons are varied, from wanting to be close to their family or just wanting to chill out. Press Herald reports that architects and property developers are responding to this need by creating a flexible office space within the houses and apartments they are building.
Another feature that they are borrowing from the new workplace is the open floor plan. It’s a broad piece of comfortable flooring where family, friends, and guests can just plop down on cushy pillows, plug in, work, and/or mingle.
Some housing communities have just about everything–from barbecue pits to jacuzzis to pool tables and Olympic-size pools to sports bars and mini theaters. In many cases, there are working spaces that offer them great views of Northern California.
The green lifestyle is a must for the millennial, and no an option, says GenTwenty.
More than any generation, they are conscious of the environment and its susceptibility to climate change and human misuse alike.
Linked to this is their desire to make all things they use energy-efficient. Millennials today will ask property developers about the kind of green tech they can install in their homes or apartments, the amount of energy it can save for them, ecologically-sound appliances, and recycling systems within the buildings.