About half of America’s would-be homebuyers are Millennials, but many have postponed their first home purchase because of sizeable student loan balances and lifestyle choices. However, there are clear signals that more Millennials are now ready and willing to take on a home mortgage. That’s especially true in metro areas that rank high on WalletHub’s “Fun Index,” U.S. News & World Report’s “Quality of Life” index, and Meyers Research’s “Housing Availability” metric. According to the real estate market analysis, there were seven metro areas where building permits grew by 15 percent or more last year, including Orlando, Houston and Minneapolis.
Builders in those communities and elsewhere have done their homework on what Millennials desire in a neighborhood – things like dog parks and easy access to transit. Homebuilders have also noted that these young buyers have strong preferences in home cladding: brick, stone and wood (or mixed use of those materials).
When asked to rate exterior materials that are “essential or desirable,” NAHB researchers found that 66 percent of Millennials chose brick or stone – and 49 percent chose wood or engineered wood siding products. Fiber cement siding finished in last place.
Complement exterior mixed materials with LP® SmartSide® Trim & Siding
NAHB also found that Millennials’ “Top 10” list of desired home features included hardwood flooring on the main level, which calls for exceptionally strong and straight sub-flooring.
LP Legacy® Premium Sub-Flooring offers one of the industry's strongest sub-floors and keeps hardwood floors free of moisture.
There are 75 million Millennials who are now entering the prime of their careers. Just like their Boomer parents, they’ll buy homes from builders who are attentive to their needs and choose materials accordingly.
Resiliency Solutions5 min
There are several insulation methods based on attic design, but ducts placed over the bottom of truss chords and buried under insulation in a vented attic is a popular builder option.Continue Reading
Sustainability Solutions8 min
Every jobsite has a ton of moving parts, from product shipments, supplies, and schedules to subcontractors and homeowners. It’s no wonder that many project teams can struggle to maintain quality jobsite communication and collaboration throughout the building process.
Sustainability Solutions6 min
In an era where environmental responsibility is paramount, we are proud to announce a remarkable achievement: the LP® Structural Solutions portfolio has been officially designated as carbon negative. This milestone is a testament to our unwavering commitment to redefining construction materials for the better with a focus on sustainability, resiliency and groundbreaking advancements.
Sustainability Solutions8 min
In our pursuit of sustainable and environmentally friendly products, we completed five LCAs and EPDs for our LP® Structural Solutions portfolio. Along with LP® SmartSide® Trim & Siding, these EPDs demonstrate the carbon negativity of our products. That means that our products store more carbon than is released during their entire life cycle, making us a meaningful part of the climate solution.