Millennials – who are those born between the 1980s and the early 2000s – currently make up the biggest population of homebuyers in the real estate market across the US. In fact, they make up a whopping 68% of first-time homebuyers.
With such a huge demographic on the prowl for a new home, sellers would be wise to tweak their listings to attract them.
These technology-driven, multi-tasking young professionals have a specific set of ideals in mind as far as their dream homes are concerned. As such, many sellers are beginning to consider how they can specifically tend to the desires of this huge demographic.
If you’re selling your home with younger homebuyers in mind, here are some ways to make it even more appealing to millennials.
Smarten it Up
Millennial homebuyers are looking for a home that can be controlled without having to do it the old-fashioned way. One defining trait of this generation is that many were basically born with a digital device in their hands. To these people, technology is more than just a luxury; it’s a need. The more technologically-advanced your home is, the more millennials you’ll be able to attract.
Whether you can shut the oven off remotely from a smartphone, turn all the lights off in the home with the touch of a tablet screen, or program the thermostat to adjust the temperature at specific times of the day, “smart” home features like these will definitely attract the younger crowd.
Keep Your Property Low-Maintenance
The less time needed to spend maintaining the outdoor property, the better. Millennials are not like generations past; they don’t want to spend their weekends raking the yard or cleaning out the gutters. They’re much more social in nature, and would much rather spend their free time going out than slaving away on their properties.
Fussy flowers, shrubs that need constant pruning, plants that have to be watered, weeds that need plucking, and anything that adds to the list of outdoor chores won’t add much value in the minds of millennials. Instead, what this bunch is looking for is an environmentally-friendly, low-maintenance yard that takes minimal time and effort to upkeep. For an added bonus, consider adding fun features, such as a hammock, fire pit, or an outdoor bar.
Add a Level of Comfort and Functionality
Millennials aren’t just looking for your typical bedroom, bathroom and living anymore. These days, younger homebuyers are looking for bathrooms that double as a spa, and bedrooms that offer a sanctuary-like space. Living rooms are now media rooms, and rec rooms are now studios.
In addition, an open concept is the preferred configuration of homes in the eyes of millennials. They’re not too keen on dozens of small rooms that they feel add separation to the space. Instead, they look for bright, airy spaces that foster communication. While the space itself doesn’t have to be big on square footage, an open concept layout is ideally what they’re looking for.
Create Additional Storage Space
Millennials are either moving out of their moving out of their parents’ homes or a rental unit, neither of which likely offered enough storage. Adding smart storage solutions is huge plus for millennials.
There are plenty of creative ways to add storage to your home. Install old kitchen cabinets the garage, or hang a ceiling pan rack over the kitchen island. Construct an in-the-wall cabinet in the bathroom, or add vertical floor-to-ceiling shelving. The more space you can offer millennials to store their stuff, the more attractive your listing will be.
Make it Turn Key
Most millennials aren’t in the mood to have to deal with a fixer-upper. What they’re ideally looking for is a turn-key property that they can simply move their belongings into and start living their lives in their new homes. If there is anything unfinished or outdated in your home, considering finishing it and getting it up to par before you list your property for sale.
Anything you can do to attract the attention of millennial buyers will help generate plenty more interest in your property, and therefore help bring more offers to the table. With so many millennials currently in the market, you’d be well-advised to take steps to create a listing that this expanding demographic wants.