The hottest destination in town right now is home, and there is no generation hearing that louder than Millenials. Home ownership has gone up across the U.S. this year, and it’s gone up significantly for the generation born between 1981 and 1996.
Millennials are a segment of the market you can’t afford to overlook — and they know what they want.
Here are some of the home features that millennial home buyers love. Spotlight these features in your home to speed your sale.
People are trading in the cubicle or the corner office for the home office because of the pandemic. That means a separate workspace is a premium feature for millennial home buyers.
Some families need two home offices — one for each spouse.
If you’re selling a home with an office, highlight it in your listing. If not, create a work-from-home space in a quiet nook when you stage your home for viewings.
A Fur-ever Home
Millennials may be the most dog-crazy generation in American history. They want a home with amenities for their four-legged family members.
Neighborhoods, where it’s easy to take Bella on her walks are attractive. So are doggie doors on the backdoor and, of course, a fenced-in backyard for the pooch to get some exercise.
Green Is Good
Speaking of yards, millennials rank the lawn as a top priority when house hunting. It’s tough to resist a thick, green lawn and manicured flower bed.
If your yard needs some TLC, the time to do it is before your home goes on the market.
The cost of a complete landscape design and build in Cleveland is $4,746 — which may seem like a lot. But it’s really an investment since you’re likely to get back even more at closing.
Energy-efficient homes are good on the wallet and good for climate-conscious millennial homebuyers. If your home has new windows or extra insulation in the attic, mention it in your listing.
Energy-efficient appliances, like new water heaters or an EnergyStar dishwasher, are selling points. Even better? Smart gadgets, like a smart thermostat or lighting that can be controlled by a phone.
If you don’t already have a smart thermostat or doorbell camera, they’re inexpensive and easy to install.
Power Up the Powder Room
This generation isn’t looking for a fixer-upper — unlike Generation X or the baby boomers before them. Updated bathrooms and kitchens appeal to this largest segment of the homebuying population.
If your bathroom hasn’t seen a revamp since the 1990s, it can be a big turn-off. Whether it’s a new coat of paint and some new faucet hardware, or as extensive as a complete remodel, your fresh-looking bathrooms will help make the sale.
A Millennial Market
The year 2020 had more than a few surprises — and that included the real estate market, which turned out to be better than many had feared back in March.
That’s great news for home sellers — but you still have to put in the work to get the right buyer with a good offer.
Millennial preferences are changing the market landscape. If you don’t want to be left behind, a few of these tips could mean you’ll be scheduling your closing sooner, rather than later.
When Linda Zhang isn’t redoing one of the rooms in her own home, she is buying a new house, remodeling it, and flipping it. She writes about home decor and other real estate issues.