Millennial homebuyers now outnumber baby boomers as they look for communities in which to settle down. However, with their particular preferences, it’s a challenge to make your home stand out despite the surge of demand in this demographic. Even if there’s an oversupply in your homes, it might take some time before your property starts receiving offers.
If you want millennials to notice your property, you will need more than a social media post and a listing on Craigslist to get them to put in their best offer. All it takes knowing what to improve, highlight, and tweak in your property to make it the only option that matters in the local market. Here are a few tips to help with that.
1. Modern and Sustainable Design
Let’s first start with the most important selling factor to develop. Many millennial buyers are conscious of their impact on the environment. They want to live in homes that are sustainable and easy to maintain. With this in mind, consider using eco-friendly paint on both the interior and exterior walls.
When it comes to upgrading your decors, look for a premium stone veneer supplier for low-maintenance and cost-effective stones that are more environmentally friendly than plastic decors. If you plan on replacing appliances, make sure to purchase ones with a high ENERGY STAR rating. On the other hand, the biggest draw for millennials is a passive solar design that maximizes natural lighting and reduces heat loss during the winter season.
2. Smart Home Technology
In addition to sustainability, homes that come with smart home devices are a hot sell in today’s market. With millennial buyers now looking for IoT-ready living spaces, you may have to include devices that wouldn’t reduce the selling price at closing. You can add smart smoke detectors, a programmable thermostat, and LED lights with motion sensors that turn off when there’s no one nearby.
In addition, consider installing a smart security system. Homes with automatic locks and surveillance cameras operated using a smartphone are popular among tech-savvy millennials who focus more on functionality than design.
3. A Good Price
Despite the need for eco-friendly and tech-based features, millennials are still drawn to homes that fall within their budget. Considering how much real estate prices have gone up over the past few years, millennials are more practical with their finances. Even if your home doesn’t have all the best features, you can still receive good offers if your home comes at a reasonable price.
Consider coming up with a competitive asking price. Pull out market comparables and have your realtor suggest an offer that’s attractive to young buyers without reducing potential returns from the sale.
4. A Cozy Community
If features and the price point couldn’t bring in buyers, you can always point them towards the best parts of the surrounding community. Millennials are more likely to invest in properties located in neighborhoods that deliver their lifestyle needs.
Walkable communities, green spaces, and fitness and leisure amenities should be enough to convince a young couple to move in. As long as the property is situated in an ideal environment, a closed deal is guaranteed.
Endnote
The real estate market is teeming with millennial homebuyers. To make sure your home gets their attention, use this guide to make your property the best among many options in your neighborhood!
