According to the National Association of Realtors, millennials are now the largest segment of home buyers. Since this generation has different tastes and needs than its parents, it’s important for home sellers to change their marketing strategy. Here are some of the things millennials are looking for in a home.
- Staging. Millennials grew up watching home shows on HGTV, so they understand staging and expect to see a home properly dressed up for sale.
- Online sizzle. Young buyers start their search online, so they want to see high quality, professional photography that really grabs their attention.
- Open kitchen/living space. Millennials have no interest in old-fashioned separate dining rooms. They prefer to hang out in a large kitchen that opens onto a family room.
- Home office. More than previous generations, many millennials work at home at least part of the time. Give them an enclosed space with technology connections.
- Proximity to work and transit. Unlike their parents, they don’t want to spend their lives commuting in cars. They prefer to walk, cycle or take transit instead.
- Low maintenance exterior, landscaping and interior finishes. Young people don’t want to spend their weekends painting, mowing and doing household chores.
- Updated kitchen and baths. Millennial budgets are limited, so they can’t afford to do a lot of renovations after buying. Bathrooms and kitchens that are already updated are a definite selling feature.
- Technology. Expect lots of questions about wireless service, internet speed, cell phone reception, etc.
- Energy efficiency. Young people like to feel they’re doing their part for the environment. They want to know about insulation, window and door seals, appliance energy ratings, etc.
- Low ongoing costs. Millennials may be able to afford the condo of their dreams, but they can’t also afford high monthly condo fees or home owner association dues. And they’ll definitely avoid any property with upcoming special assessments.
If you’d like more advice on selling your home to millennials, please talk to us today!