Millennials are reaching the point where they are set to become the largest population of home buyers. Born between 1980 and 1996, this age group is starting to enter what would typically be considered their peak homebuying period. Millennials have a tendency to do things differently than how previous generations have done them, though. Here are some things you should be doing to prepare your home to better attract these younger buyers.
Know How to Market It
If you want your home to sell in general, you need to know how to market it properly. In the case of marketing your home to a younger demographic, this means putting it online and using social media. The vast majority of millennial home buyers start their search for a home online. If yours isn’t there, you’re losing out on views and prospective buyers. When you do list your home, be sure to use high quality images and video. This is important when you consider that how your home looks in online images may determine whether or not a young prospective buyer decides to visit your home. It’s not too different from the initial job interview that determines whether or not you get a second one.
Energy Efficient Upgrades
Millennials care about how energy efficient a home is. This is in part out of concern for the environment, and in part out of concern for their wallets. Energy efficiency usually means savings on utility bills in addition to being better for the planet. Energy efficient upgrades may include kitchen appliances, HVAC systems, even windows and doors. Efficient glass entry doors have benefits and also appear more stylish than other doors. If you can blend style with energy efficiency, you’ll be much better off.
Create a Social Space
Millennials value connecting and socializing with others. Create a room or space specific for socializing, and you’ll find your home is more likely to appeal to a younger population of buyers. You might achieve this through staging your home carefully. To stage a space for entertaining, consider using an entertainment center with a TV. Furnish it with comfortable, yet classy seating options. You could have a small shelf with some fun games and a table nearby for playing them on. Installing a sound system could be a good option as well. Just make sure you’re clear about what you’re including or not including in the sale so there aren’t any unpleasant surprises.
Open Floor Designs
On a similar note, having an open floor design can be a popular floor plan among younger buyers. An open floor design is considered a great thing to have if you like entertaining guests in your home. It also offers a certain level of flexibility when it comes to deciding how to use space. If your property isn’t already utilizing an open floor plan, you can change that, but it’s not a project you should take on yourself. Some of your walls may be load bearing, and knocking them out can seriously compromise the structural integrity of your home. Consult an expert who can help you identify those walls and help you redesign your space in a safe manner.
Home Office Space
Over 75 percent of millennials use remote employment as their primary source of income. While many are content to use coffee shops and coworking spaces, the convenience of a home office is hard to beat. Similarly to staging a space for entertaining, staging a home office space can make your home more appealing to these younger buyers. The idea is to give prospective buyers an idea of how your home could be used. Working from home nearly always requires the use of the internet, so make sure you’re prepared to discuss things such as internet providers for your area and what to expect for performance.
Make It Low Maintenance
Convenience is a high priority for younger buyers. For homeowners looking to sell to this demographic, that means making sure your home is low maintenance. Plenty of millennials are willing to purchase fixer upper homes and work on them, since they often sell for less. That doesn’t apply to all of them though. With tight budgets and relatively little free time, having a home that doesn’t require high levels of upkeep can be very attractive. Hardwood, vinyl, or sealed concrete floors can be good options, especially in kitchens and bathrooms. Granite and quartz perform similarly as low maintenance countertop options.
Keep the Paint Neutral
Adding a fresh coat of paint to your home’s interior can do great things for making it look cleaner and more attractive to prospective buyers. If you want your paint job to appeal to younger buyers, make sure you stick with neutral colors. These colors offer a clean, sophisticated backdrop to any staging. They tend to work well, regardless of the color or finish on different furniture pieces. This makes it more attractive to more buyers, especially those who don’t want to have to spend money after purchasing the house to repaint it themselves.
Smart Home Technology
Few home improvements lend themselves to improved convenience quite like smart home technology. This might be something of a perk more than a necessity, but younger buyers who have grown up with technology and seen how it can improve home living may find it to be a very attractive perk indeed. Smart home technology can often be controlled from anywhere through an app on the owner’s phone. This allows the homeowner to check on their home, turn off lights, adjust the temperature, and lock or unlock the doors as needed without having to be at home. Younger home buyers will appreciate the added convenience and cost savings that can come from having smart home technology installed in the house.
Preparing your home to attract younger buyers may take some work and adjustment on the part of current homeowners. Millennials place a high value on convenience and affordability. Find ways to capitalize on these values, and you’ll have a better chance of making your home appeal to them.
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