Homes change hands every day, and more of those homes are being passed off to millennial buyers. Millennial's are the movers and shakers of our economy, and they’re needs and desires are very different than past generations.
Economic ups and downs, technological advancements, and the unstable job market have all shaped millennial experiences, and young people don’t really look like the baby boomers who bought investment homes to live in for decades. If you’re selling your home and you’re not sure how to market to millennial's, the situation seems intimidating but it doesn’t have to be. We’ve collected some tips for giving your home the edge when the millennial's come knocking!
Before making any major renovations on your home, tap into a great natural resource: your millennial children or grandchildren! Millennial's are more interconnected on a global scale than any generation before them. Social media connects people far away so what's better than reaching out to your own family to learn what their generation is looking for across a number of different markets and regions!
Understand the millennial home buyer's mindset toward a permanent home in the sense that millennial's move constantly, be it jobs, homes, or hobbies. Also, many millennial's aren’t thinking about passing a home onto their children as they are pretty transient and don't necessarily know what the future will bring.
Millennial's often come from urban upbringings, where the property itself isn't the key part of a “perfect home.” Proximity to work is less important because of telecommuting. Instead, millennial's want to be near happening downtown settings with active social hours.
Ask your children and grandchildren what they’re looking for in a new home, and formulate a plan of action with that information in mind. They may look for property perks you never thought of before.
Once you know what to focus on, create a strategy for updating your home and making your home move in ready. When you’ve lived in a home for a long time, cool features 20 years ago are now outdated and even obsolete. Analyze every room for layout, color, features, and more. Perhaps ask millennial's you know to give some feedback on your home, what they like and don’t like.
Then call in the experts to quote you on how much renovating your home will cost! Prioritize the features that young people want, and if you have time or money, work on the less-important features.
So what can you start with? Think about current technology, like your phone, computers, and even websites that are used often. Smart features are here to stay, and cutting-edge technology like smart homes are becoming more and more common (and less expensive to install). Think of installing virtual assistants like Google Assistant, Alexa, or Ring that include remote home security devices, thermostats that change on wireless command, and motion-activated smart lighting inside and out.
Open floor plans are very popular right now, especially with young people, as the entire family can stay connected in the major rooms of the house. Look at your kitchen in relation to the living room and dining, can you open a wall in the kitchen? Connect the living room and dining room? Removing walls instantly makes your home seem larger and more inviting with minimal effort on your part.
A home’s curb appeal is important, but millennial's aren’t looking for the same perfect grass their parents worked really hard to maintain. Millennial's are busy and don’t want to spend time on a yard, and with much of the west in a drought, more and more are eco-conscious as well.
Talk to a local nursery about the best way to convert your yard, or just hop on Pinterest. Native plants are great options that also benefit the local bird and insect populations. Replace your thirsty plants with drought-hardy flowers, shrubs, and trees to cut (or eliminate) your water bill, or go minimalist with a rock yard.
While we see the front yard first, don’t forget the backyard! Cutting water use and maintenance everywhere on your property can make it much more attractive to young people.
Energy efficiency in the home not only helps the environment, it also reduces the load on your local energy providers and saves you money as well. Our walls, windows, and doors are key in losing cooled or heated air and hard-earned money. Install new weatherstripping on your doors and fill in insulation gaps if needed. Update your AC and heating systems to conform with current energy standards.
Your windows need some love, too! Update old glass and replace worn screens to keep out pests. Repair any sticking or jammed sliding tracks, too. Your windows also help warm up your rooms by letting sunlight through, so install energy efficient, heat blocking, solar film while you’re at it. Got cold and hot spots in your home? Solve the problem with insulating window film.
Make these energy efficient improves part of your selling game so millennial's know about the benefits!
When you’re ready to sell, don’t ruin your chances with poor photos! Pick the winning spots around your home. Take high-quality photos, fix the color or lighting to be accurate, and crop out what you don’t want to focus on.
Also, order is important! Real estate websites usually display photos in a particular order, so arrange your photos with the best ones first! Be sure to include outside shots, interiors, views, and other places you would want to see when looking for a new home.
Selling a home, especially to a new generation, can seem intimidating but it doesn’t have to be. Take it one step at a time. Solar Art helps homeowners renovate and improve their homes every day, so we are ready and waiting to help you down that path towards a successful sale!
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