How to Appeal to Millennial Buyers When Selling Your Home
Unlike years before, young millennial buyers currently hold a considerable portion of the real estate market. Today’s millennial buyers have different expectations and desires for a home than their parents had. What does this mean for you if you’re thinking about selling your home anytime soon?
In order to get the best offer on your home, it will pay off to present your home in a way that will appeal to the needs of these millennial buyers. From a targeted listing description to specific features showcased at your open house or specific mentions of the upgrades you made before listing your home, you can catch a millennial’s eye by relaying to them that you know what they want. We’ve compiled the top features to highlight to make your home more millennial friendly when trying to tap into that market!
1. Location, Location, Location
Many millennials are looking to purchase a home in a “walkable community” – one that is near public transportation, grocery stores, local businesses, and restaurants. Basically the more places you can get to by foot from your home, the better in a millennial’s mind.
Young buyers are interested in homes that have a great location for a number of reasons: desire for a short commute, close proximity to the city’s happenings,, and eagerness to be in a “hot” neighborhood. If your home is considered walkable, market it that way! You will have more millennial interest and potentially be able to get a higher price.
If your home is in the suburbs, don’t fret. Millennials are looking there too! You can prove your neighborhood meets their needs by pointing out the proximity of your home to highways, shopping centers, schools, and popular restaurants and bars.
2. Highlight Your Home’s Openness for the Millennial
Millennial buyers know the living at home, in a dorm room, or confined apartment life all too well. Large, walk-in closets and garages are probably unknown territory to them. Because of this, it is smart to play up all of the space your home has to offer; highlight your open floor plan, high ceilings, or storage.
These younger buyers want larger spaces to use as multi-functional rooms and to entertain. In general, people do not want to feel like their family or friends have to be sectioned off in different parts of their home. So, if your home has an open floor plan or a kitchen with views to the living room, you’re in luck – this is a huge selling point. But if it doesn’t, don’t worry! The main goal is to find spots where entertaining is easy and comfortable. Whether that be on your open outdoor patio or large finished basement, make sure to really highlight those home features.
3. Add a Touch of Green
Millennials strive to be as environmentally-friendly and eco-conscious as possible. So naturally, homes that are eco-friendly appeal to them. If your home is newer, chances are it was built with green-friendly materials, so make sure to mention that to potential home buyers! If your home is older, you don’t need to spend a bunch towards upgrades to compete.
Instead, consider getting rid of old single-pane windows and putting in new double-pane ones for better insulation. This will not only be a selling point but also provide great curb appeal.
4. Let Technology Lead the Way
The millennial generation grew up with technology and to them, technology is not just a luxury but a necessity. Strive to make your home as technologically friendly as possible to appeal to these buyers.
As you consider improvements and upgrades, think about how to integrate practical technology into your home without it looking out of place. While millennials want technology, they also want cohesiveness and not for one room to be loaded with technological updates. Install a simple home automation system like a programmable thermostat that can link to their smart phones. This feature will be a huge selling point for you.
Home automation is important to young homebuyers. According to Better Homes and Gardens, 41% of millennials indicated that they would brag about a home automation system over a renovated kitchen.
5. The Lower Maintenance, the Better
Many young buyers are looking for homes that are low maintenance. Low up-keep features such as hardwood floors, granite countertops, and easy to clean stainless steel appliances are seen as big positives for this generation as they are both attractive and relatively hassle-free.
Millennials would rather replace than repair if it meant they’d save themselves time in the long run. They want their weekends to themselves instead of filling their Saturdays and Sundays with household chores. Marketing the low maintenance of your home will give you major points in a millennial buyer’s mind.
6. Think Clean Finishes
Millennial home buyers want clean, fresh homes. The easiest way to achieve this is to clear rooms of clutter, making them feel open and bright. Unlike their parent’s homes, sleek features and more neutral colors are what millennials want. They are the first generation to grow up with massive hours spent watching TLC and HGTV to give them a plethora of design ideas.
Because of this, they know what they want, and what we have found is that they want a home that is move-in ready, or close to it. They want the home to be their perfect canvas for all of those pinned design ideas – and this means the finishes are clean and updated.
Don’t worry if your home is not filled with the latest design trends, however. Purchase small hardware pieces, like light switches, and electrical plates to go a long way and make your home look updated. Choose a room to update the fixtures in to get it more move-in ready. A millennial buyer will be way more interested if they see clean pieces like these that appeal to their current style.
7. Target Online Marketing
According to Realtor.com, Millennials spend 99% of their time house hunting online. Personal websites, Facebook, and other online listing sites are all great places to advertise your home to reach the maximum amount of exposure.
Millennials are the driving force behind social media. They are connected quickly and in tune with the latest and greatest social applications. With 99% of millennials browsing homes online, it only makes sense to include social media in your marketing plan. Engage potential buyers with great images taken of your home, or even a video. Be authentic in the remarks on your home online and definitely take advantage of Facebook as a great advertising outlet.
When selling to millennial home buyers, it is important to know how they differ from previous buyers in markets before. What catches the eye of the millennial buyer is quite different from other generations of buyers. While you cannot expect your home to be the perfect fit for every demographic, these tips will help you be well on your way to appealing to more millennial buyers.
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Foundation, News, Team Culture