Millennials will account for 32 percent of real estate buyers this year, according to theNational Association of Realtors. In fact, if you are thinking of selling a house, it's likely that someone in this age group will be your buyer - so it's important to know what they are likely looking for in their future home so that you can sell it quickly and for top dollar.
Perhaps not surprisingly, homebuyers in their 20s and 30sare looking for very different features than their parents did, but it can be relatively easy to make a few simple changes and updates in order to meet their criteria.
What Boomers wanted vs what Millennials want
Boomers (folks who are now in their 50s-60s) bought what they could afford at the time, and took years and even decades to fix them up as their budgets allowed.
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Millennials want move-in ready and are willing to pay for it. They want what they see in magazines and on Pinterest, and they want it now.
So, if your home needs some work, do itbeforelisting your house for sale.
There are 5 Projects that are sure to pay off if you are thinking of selling your home in the near future:
If you don't have a work-at-home space, create one.
More and more Millennials work at least part of the time, if not full-time, from home. This is an entrepreneurial and uber-connected generation, and they want to walk into a home and envision themselves with the screens they need to get projects done. For designers and programmers, this might mean a dedicated home office with desk space for multiple screens, while for professional bloggers and writers, they might just need a closet with space for a laptop and printer to land. But, one of the most frequent requests that we see is for a "home office" or "guest/work space", so keep this in mind when you are renovating and staging your home to sell.
Open the kitchen to a family room and combine them into one space.
Millennials wantkitchensthat are great places to hang out with everyone while cooking and entertaining. Even if the removal of a wall creates fewer cabinets and, in your mind, reduces the functionality of the kitchen, do it and increase the desirability of your home.
For the same reason, if at all possible,create anisland or peninsula with room for stools, because that's where Millennials want to congregate.
Make sureyour home has easyWiFi accessthroughout the house.
Millennials need the ability to use theirsmartphones and tabletseverywhere. So make sure cell signals are strong and, if they're not, install WiFi boosters. A weak or inconsistent cel signal can actually be a deal breaker for younger homebuyers.
Renovatewith eco-friendly materials.
Millennials are watching our natural resources quickly disappear, and they've been raised on the "Reduce, Reuse, Recycle" mantra. Consequently,eco-friendly materialsand lifestyle choicesare popular amongst this age group: think tankless water heaters, solar panels, and water-saving toilets, as well as rain-collection tanks and low-water xeriscaping, as well as low-VOC interior paints and carpets, and fast-growing wood materials including bamboo.
And, if you have anunderground oil tank,remove it before listing your house.
Integrate indoor/outdoor spaces for year-round use.
If you have been to a newer restaurant or bar lately, you've seen the walls of windows and glass doors that open up to patios all over town. And, builders are starting to incorporate them into residential space as well, because fresh air is awesome, and Millennials who are working and entertaining at home want it.
If you have a small door leading from a kitchen to a patio, or a tiny window in a living space that could be replaced with a larger window or even french doors, make it happen - you are sure to see a nice return on this minimal investment.
If you have questions about what you might need to do to get your home ready for Millennial buyers, or if you are ready to start your home search, please don't hesitate to reach out!
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