First-time home buyers tend to be millennials. And people born between 1980 and 2004 represent the largest segment of our population. So it makes sense that you should want to attract millennial home buyers. But how?
how to attract millennial home buyers
1. New function and design
Most millennials see rooms differently than older buyers. Their rooms have new functions. So, they should look new, different, flexible. They need fresh décor with neutral modern colors.
Your TV room? A millennial’s media room. Your bedroom? A millennial’s sanctuary. Your den is a man cave to a millennial. And what goes in the garage? A car? Nope. That’s the studio.
Remember that the idea of “rooms” is from the past. Millennials are looking for open concept floor plans. That’s why you, as the seller, needs to forget how you’ve used your home. Aim at showing millennial buyers how your home will suit their desires perfectly.
Stage your home in a way that makes them excited to make an offer on your home.
2. Low maintenance yard
Millennials are allergic to high maintenance homes – especially outdoors. Roses that need pruning, bushes that need trimming, bulbs that need to be dug up in the fall, thirsty plants, and anything else that shows up on a to-do list is a negative when they look at a home. To some, those things add value – but not to a millennial.
Instead, go for environmentally-conscious, low-maintenance landscaping. Fun stuff like porch swings and fire pits also add value. You’ll get bonus points for easy-to-maintain outdoor entertainment areas (kitchens, decks, patios). But your beloved fish pond – the one with the fountain? They’ll hate it.
If you have an inground swimming pool, make sure it’s perfectly maintained before you list your home. And keep it that way. You don’t want to leave the impression that it’s hard to take care of. Your agent needs to be able to present it as a relatively easy upgrade.
3. More storage
Millennials tend to be moving from small spaces with little storage. For them, walking into a home with good storage space is like Christmas. You can never highlight storage too much – especially if you’ve got tons of it.
4. Walkable neighborhood
The features of your neighborhood often mean more than the contents of your house. Are you close to cool places to eat and have fun? Say so! It’ll add value – more than you’d imagine. Millennials want to be in the middle of it all. Convenient, happening, dream home.
Sellers do well when they look at their area from the point of view of a thirty-something.
5. Location benefits
Millennials are big city-dwellers … until they want to start a family. Then, they seem to gravitate towards the lower-priced, larger-home-sized suburbs or city fringes.
What do millennial home buyers value? Ask your real estate agent for their experience with younger buyers who move into your area. Sellers in the burbs should check with their real estate professional to learn which benefits local millennial buyers value most.
Are you close to entertainment? Do you have a large yard? Is your home zoned for the best schools? Highlight those factors – young families will sit up and take notice.
If you’re a seller whose home is an ideal starter home, first-time millennial buyers will be drawn to it. Even so, follow these tips to make sure they take a second look – and make an offer.
When you attract millennial home buyers, you’re that much closer to a great offer.