Would you be surprised to learn that 42 percent of new home loans are for millennial buyers? While most people think that young adults aren’t active in the real estate market, they are
Attracting Millennial Home Buyers
Would you be surprised to learn that 42 percent of new home loans are for millennial buyers? While most people think that young adults aren’t active in the real estate market, they are purchasing homes and they make up a large share of potential buyers. If you’re not marketing your home to these young buyers, you could be missing out. Here are some tips for attracting millennial buyers to your home for sale.
Use awesome photos
Millennials are the Internet generation. They are more virtually connected than any other generation before them. It makes sense then that nine out of 10 millennial homebuyers begin their searches online. If you want your home to stand out from the rest, you need high-quality photos. These pictures will be the first things that potential buyers see when searching for homes online.
Market the home’s tech features
Millennial buyers are interested in homes that are both environmentally friendly and technologically modern. This includes solar energy, energy-efficient appliances, smart thermostats, and other smart devices. Make sure you mention all these features in your listing, and show how they can save the buyer money over time.
Stage a home office
More and more people are working remotely – especially millennials. Many millennial buyers are looking for homes that have room for a home office space. If you have a spare bedroom in your home for sale, considering staging it like a home office. Even if you don’t have a dedicated room, you can create an area that is conducive for work. This could include a corner of the living room, the space under the stairs, or even a converted closet.
Install garage outlets
If you haven’t updated your garage in some time, then now is the time to do it. One of the most important features you can have in the garage is the ability to plug in multiple devices. More and more millennials are buying electric cars that will need to be charged when not in use. They may also need space for an extra refrigerator and other home appliances like washers and dryers.
Upgrade the outdoor living space
Another important feature for millennial buyers is the outdoor living space. This is especially true in areas with temperate climates. Outdoor spaces can increase the livable size of a home. They’re great for entertaining and provide room for pets to roam. If you have outdoor space, stage it so that millennial buyers can see the potential for how it can be used.
Opt for modern, neutral décor
When you’re getting ready to sell your home, you need to declutter and depersonalize the space. This often means painting rooms more neutral colors that will appeal to the greatest number of potential buyers. For millennial buyers this could mean light neutrals, especially gray. And if you’re making any updates to your décor, consider choosing items with modern, clean lines. Minimalism is a big trend with young adults, and many want their home to reflect that lifestyle. When in doubt, remember that less is more.
Compliments of Alabama Homefinders Inc 334.358.3883
Kelly Colley has over 16 years of experience in real estate sales, turn-key investment properties, REO/bank owned investments, loss mitigation, asset management, customer service, real estate training....