What Millennial Buyers Want in a House
Did you know that 40% of first-time homebuyers this year alone will be millennial’s? This means that people born between the 1980s and the early 2000 will be buying their first home, settling into a career and potentially starting a family.
That’s almost half of first-time homebuyers! This is not something to ignore and if you plan on selling your home you should know how to appeal to this type of buyer.
Bigger is not always better. Millennial’s are looking to simplify their life. Having a huge house with unused or impractical space is simply not attractive. They are looking for a practical home with an open floor plan so that the living room, dining room, family room and kitchen are all in one space. They don’t like a lot of unused space so if you have a formal dining room or a formal living room that is shut off from the rest of the house, it’s best to turn that into something else that can be used on a daily basis. This could be a playroom or in office, library or craft room. Something that will be used more often then on Christmas or holidays.
Millennial’s are also looking for an urban space with easy access to daily necessities. These micro-communities, small neighborhoods that are within 1 mile to shops, restaurants, coffee houses, playgrounds and schools are extremely appealing to millennial buyers, especially those just starting out in life. They don’t want to have to run into the big city in order to get things done.
Schools are also a huge priority since many of these millennial’s are starting families or have children of school age. Emphasizing a great school district is always a plus when marketing your home.
Energy efficiency is also a priority for millennial’s. If you have an older home that has not been updated in several decades, millennial’s only see money going out the door in energy costs. Having updated, Energy Star appliances, double pane windows, great insulation and a cost-effective heating and cooling system, it can actually be way more appealing to a millennial homebuyer.
While we cannot change the location or general layout of most homes, we can appeal to today’s first-time home buyers in a variety of new and interesting ways. For more information on staging and prepping your home for sale in Portland, Clackamas or surrounding areas, please give us a call today.