How to Make Your Property More Appealing to Millennial Buyers
A 2019 report by the National Association of Realtors indicates that more millennials are now seeking to become homeowners than ever before. At 26%, they make up the biggest generational category of buyers. In addition, they acquire 42% of all fresh home loans and are indicating interest in affordable markets.
In order to market your home in a competitive manner, you need to make it attractive for this younger generation that has its own preferences and needs. We will help by proving informative tips on the ideal features you can include to make your home friendlier to millennials:
A Space for a Home Office
The Covid-19 outbreak has made working from home mandatory for most employees. Even before that, Forbes had reported that remote working has been adopted as a regular operating mode by at least 50% of the U.S. population. This trend is especially preferred by millennials.
Therefore, young purchasers are searching for properties that have dedicated workspaces which they can use for their conference calls, meetings and other work-related tasks. You can cater to this requirement by easily creating a suitable home office space in your property. For instance, you could turn a spare room into a home office, with shelf spaces and outlets. Or, you can utilize a kitchen corner nook with adequate lighting where you can place a small table.
Regardless of whether it’s during the staging procedure or via a remodel, you should reflect the possibility to develop a home office in your property so that purchasers can assess the space for their needs and lifestyle.
You can appeal to younger buyers by changing conventional outlets into USB outlets in the kitchen, living rooms and bedrooms. Most millennials are glued to their smartphones, and therefore convenient charging ports in your home will definitely attract them. The benefit is they wouldn’t have to utilize an adapter or a plug to charge their mobile devices. Instead, the gadgets have exclusive specialty outlets that only need USB cords.
Smart Home Gadgets
Tech-savvy millennials have a liking for smart home devices like keyless locks, smart doorbells, smart thermostats, etc. These digital natives prefer smart security solutions as they can conveniently manage them using their smartphones. Young working couples or telecommuting employees with young children are sure to appreciate the added security and convenience. Provide information about smart home functionality like carrier signal robustness, wireless service providers and low-cost choices for technology, so that you can communicate these features to millennial prospects.
Outdoor Living Space
Apart from interior improvements, millennials also value outdoor living spaces as a vital element while selecting their home. They want outdoor features designed in a way to enable them to relax with their friends and family, and play with their pets. Therefore, you need to ensure your property’s backyard functions like an addition to the indoor living spaces. Another point to remember is to make these areas easy to maintain, or buyers will be turned off.
Upgrade the features in your yard regardless of its size. Include a fire source such as a fire pit or outdoor fireplace and make sure they adhere to fire safety regulations. Provide seating with accent pillows, include a table, and offer string lights to create a chic look and feel. Add some shrubs or potted plants, and invest in an outdoor rug. These upgrades can help to make your property’s outdoor space Instagram-worthy and will surely attract millennial buyers.
The influence of HGTV, Pinterest and Instagram have made millennials take a liking to neutral colors, and they want to see these hues in their new home. Universally, people love white color themes, soft neutrals, and gray variations, so utilize these hues to refresh your house. After painting the walls, you should focus on re-painting your maple or red kitchen cabinets. Finally, update hardware like drawer pulls and handles to give everything a neutral, consistent palette that will definitely appeal to millennials as well as other potential buyers.