Marketing Your Home To Millennials
Millennials have taken a different approach with homeownership compared to older generations. Many millennials delay the decision to purchase a home because they value the freedom and flexibility that comes from renting.
But, this generation is reaching an age where they are ready to settle down and create a stable home life for their families. So, many millennials are stepping to the real estate market as first-time home buyers. This generation is filled with smart, career-focused people who have strong incomes and prioritize lifestyle. As a result, they are selective about the homes they are willing to buy. Since millennials are entering the market as buyers, home sellers need to be sure that their properties are positioned to attract these buyers.
WHAT MILLENNIALS ARE LOOKING FOR IN A HOME
Here are some of the most important features millennials want when they’re buying a house:
- Large Kitchens: The kitchen should be designed to flow with the rest of the home. Often, millennials want a living space connected to the kitchen to form a great room. Stylish décor and new appliances are important.
- Updated Bathrooms: Since millennial buyers are usually on a budget, they don’t want the stress or expense of updating an old bathroom. A few changes in the bathroom can make a big difference, especially when you follow the current bathroom design trends.
- Office or Workspace: The “work from home” trend is growing. Many millennials prioritize career opportunities that allow them to work from home, either through a corporate job or freelancing position. Stage one of the spare bedrooms as an office or set up a workspace in a quiet area in the home to help potential buyers envision their workday in that space.
- Smart Technology: This generation lives in the digital age, so smart technology is a big benefit. These technology features might include a smart thermostat, garage door opener, or voice controlled appliances and lighting systems.
- Energy Efficiency: Global warming is a big concern for the millennial generation, so they are often looking for homes with energy efficiency upgrades. These “green” features might include new efficient windows, LED lighting, or a programmable thermostat. Solar panels aren’t always the right solution, but could be a selling point for some buyers.
- Storage: Efficient, spacious storage is important for this generation. Storage options might include walk-in closets in the bedrooms, a butler’s pantry, spacious garage, or linen closets.
Minimal Maintenance: Since millennials are focused on their careers and families, they don’t want their time to be focused on home maintenance tasks. Instead, they want to spend their weekends on enjoyable activities or relaxing with their loved ones. Look for options to minimize repairs and tasks, such as installing a new roof, upgrading the siding, or replacing the flooring.