Millennials are becoming the dominant homebuyer, as 42% of new mortgages belonged to them at the beginning of 2019. They’re in the market for their dream homes, and many of them are not willing to settle. They may even be looking for upgraded features uncommon in the housing market today.
This is one reason why hiring an agent is so crucial – they can help find the perfect home which checks off all the upgrades on the house-hunting wish list. Keep in mind, that when hiring an agent it’s important to remember there is a difference between a Realtor and real estate agent – something not all millennials may be aware of.
Millennials are research-savvy, and they come prepared with detailed information. There are many questions they’ll be asking themselves before purchasing their new home. So when you’re selling your home to a tech-savvy audience, there are a few upgrades you may want to consider before putting your home on the market.
Upgraded and energy-efficient appliances are typically a huge selling point for most millennials. Millennials are more eco-friendly than previous generations and are willing to take action to reduce their environmental impact, so when it comes to things they can directly control, they will take advantage of that.
Appliances that can help save cash on utility bills are also a bonus.
Millennials tend to work and go to school from home (or have the ability to work from home part-time). Some may also have a side hustle that requires a home office.
Using an extra bedroom as an office space where they can envision their dreams coming true can be a big selling point. Including a built-in storage space, or a beautiful custom desk might also be a great selling point as well.
Features like smart thermostats, built-in USB outlets, smart home devices, security cameras for peace of mind, and even solar-powered features are still not common on the market. However, they are sure to impress a millennial homebuyer.
These are likely features they would want to install themselves in the future. Extending the tech into the garage to include a charging port for an electric car could be a bonus as well.
Millennials love functionality in their living spaces, so offering ample and logical storage space that is beautiful makes sense. Built-in storage, garage storage, a piece of furniture with a storage option that can inspire them, will give millennials options they’ll love.
Feeling organized makes everyone feel accomplished and productive, so having functional storage is a must.
Flexible Living Space
Millennials can be a bit indecisive, and they like to have options. Allowing them to have space with options is perfect. They may not keep a house in a traditional layout; in fact, they likely won’t.
Game rooms, computer rooms, or gathering spaces for friends with a lot of computers or consoles may be what dictates how they set up their living space. Providing them with an area that could be home to those types of activities would be exciting for them.
Modern Design and Neutral Colors
Less is definitely more to millennials. Clean lines, a minimal aesthetic, and neutral colors are ideal when selling your home to millennial buyers. When staging your home for sale, you always want to reduce clutter, re-paint, and allow the buyer to picture themselves in the house as if it were theirs. Starting with an upgrade in that direction is a great place to start and stick to colors like greys, creams, and soft tones are best.
Millennials are drawn to smart tech homes that are minimalist, have flexible spacing features and have energy-efficient appliances. Any home upgrade that you can include to make their lives easier or simpler will be a huge selling point for them during an open house. Aside from these on the list, here are some other great ways to increase the value of a home you’re looking to sell!