Marketing to Millennial Home Buyers
In today’s market, millennials are beginning to comprise a large portion of interested home buyers. With so many millennial home buyers coming online, it can benefit home sellers to plan accordingly. By being prepared to market specifically to millennial home buyers, sellers can improve their chances of a speedy and successful sale.
In the article below home sellers will find an overview on strategies and insights that can be used when marketing to millennial home buyers.
Updated Kitchen and Bathrooms
One of the biggest factors millennial home buyers look for in a home are kitchens and bathrooms that have been updated. These renovations are appealing to the overall millennial population since many young home buyers simply don’t have the available time or energy to make these updates on their own. Have a move-in ready renovation already completed – especially if it involves granite countertops in the kitchen and stone tiling in the bathroom – will entice a number of buyers.
While making these updates can be expensive for the home seller, you put yourself in a position to have pay off in the long run as the value of the home will be increased. Additionally, the home seller can likely get away with increasing the original cost of the home as long as the house has not yet been listed.
Open Floor Designs
Next, millennial home buyers are very interested in open floor plans. The appeal of open and large spaces are attractive to young home buyers who are looking for spaces that can be used in a multitude of ways. Open floor plans make it easier to connect with their family and host parties and get togethers for loved ones.
Home sellers might need to take some additional renovations into consideration if their home doesn’t already have an open floor plan. Knocking down walls is not as easy as updating a kitchen counter. But much like the benefits of renovating the kitchen and bathroom, the value of home can experience an increase with an open floor plan update, too.
High Walkability Score
Another factor millennial home buyers are heavily influenced by is a location that has a high walkability score. A high walkability score means the home is situated in an area where many errands can get done by walking. Communities with plenty of offerings within walking distance carry great appeal to the millennial home buyer.
As a result, if home sellers live in such an area they should promote as much as possible.
Low Maintenance
Lastly, millennials are looking for homes that are easy to maintain. The younger generation doesn’t want to spend a lot of time fixing and cleaning their home, especially since they generally don’t have enough time to do so.
Increasing technologies, like homes that can be controlled or monitored with a smartphone, have a general appeal to millennials as well.
Making your home millennial-friendly can pay off in the long run. Such improvements like renovating kitchens and bathrooms, creating an open floor plan, promoting walkability, and ensuring low maintenance will bring young home buyers running to look at the seller’s home.