Marketing real estate to millennial house buyers? Well, you are definitely on the right track. We can all expect to deal with more and more young house buyers both presently and in the near future. Even though the National Association of REALTORS® has stated that today’s typical real estate buyer is 44 years of age, there is also the group of first-time buyers that account for 35% of all home buyers. Many of these first-time buyers are millennials, so what should you do if you want to sell property to millennial buyers successfully? Here are some useful tips.
Enhance Your Home with the Latest Tech
News about houses becoming smarter is no longer rare. By getting smarter, we are talking about home automation. For instance, homeowners can control their home’s lighting with the touch of smart devices, control heating and cooling functions via smart thermostats, and enhance security with digital door keypads… and the list goes on. Of course, a majority of millennial house buyers will not demand features like these upfront. It is just that if you have already installed these features, you will certainly make your home appear more appealing towards that group of millennial house buyers.
Make Your Home Eco-Friendly
The perpetual rise of costs of living sounds like bad news, right? While it is, you can use it as a great selling point. Millennial house buyers are more environmentally conscious than real estate buyers of the past. If you can let your potential buyers know that your home is eco-friendly and can help them lower utility bills, you will make your home stand out. For example, you may choose to install water saving faucets, refurbished lumber flooring, and even promote extra insulation and/or double-paned windows to help keep heating and cooling costs down.
Update Your Bathroom and Kitchens
The majority of a first-time property buyer’s cash often goes towards the down payment, which makes it hard for them to justify the cost of renovations. That’s why nearly 40% of buyers in the current real estate market look to avoid renovations. If your home already has updated bathrooms or kitchens, your home will be more favorable to their needs.
Present One of Your Rooms as a Potential Home Office
Today, millions of Americans are familiar with the concept of working from home. What’s more, that number is expected to continue rising. For many prospective millennial house buyers, a home office is important because chances are, they would want their home to also be their work space. Don’t fret even if your buyers do not work at home. Just the idea of having a dedicated space where they can address household administrative matters or spend time on the computer is desirable.
Adopt an Open Concept for Your Home
Since their inception, open-concept homes have been a popular interior design style. One of the reasons why these designs are of particular interest to millennial house buyers is that these buyers can be more concerned with how large the house interiors feel. Actually, what they are looking for is flexibility. They want a home that gives them the opportunity to reinvent the space over and over again. If your home encourages a relaxed social dynamic, and allow your prospective buyers and their guests to flow through a common space, it can be a great selling point.
As a property seller, you can always make use of the help of a real estate agent to help you target millennial house buyers effectively. These ideas discussed earlier are just a small part of what you can do to attract young buyers, but we are sure that your agent will be able to give you even more pertinent tips based on your unique house setup.