Sellers – Envision Your Home through the Eyes of a Millennial

Millennials are on the move! More than half of this generation is buying homes in the suburbs while only 15% are buying in urban areas. If you are thinking about selling your house or if your house is already on the market, take a moment to stop and think like a Millennial.

Updated Kitchens and Baths

Many Millennials have a move in ready turnkey mentality. They are not generally keen on fixer uppers. That being said, they are educated buyers and recognize the value of a good location. Don’t turn those buyers away because your home is tired and outdated. While refurbishing kitchens and baths is not always feasible budget wise, making some updates can pave the way for a quicker sale, especially if you are selling an older home. If you can afford to switch out some older appliances for new ones, think about doing so. If you cannot, make sure you de-clutter and clear all the counter space. Put away ratty dish towels, rugs, bric-a-brac. Wash the cabinets and floors and remove old draperies so those rooms sparkle.

Open Concept

Many younger people today don’t need or use the formal rooms that have always been treasured in the past. The dining room is a perfect example. Millennials are looking for flexible spaces. They may use the dining room as a playroom or an office. The fix here is not to tear down walls but to remove extraneous furniture so all your rooms feel more open. It’s difficult for buyers to see themselves and their furnishings in a cluttered, cramped house. Look around and remove the drapes that keep the sun out, the extra ottoman that’s blocking the doorway and the trail of throw rugs that litter the floor.

Marketing to Millennials

Millennials are drawn to new technology in the home. They appreciate smart homes, green technology, energy efficient appliances, high speed WIFI. Additionally, for millennials, the first screening of potential homes occurs online, not at open houses; 99% searched for potential properties online and 75% did drive-bys after finding a home they liked. Make sure your Realtor is making your property look good online. Stage your home if necessary and hire a professional to take your listing photos. Make use of video tours or slide shows. Ask your listing agent about his or her social media presence. Capturing the millennials’ attention online is the very best way to drive them to your property.

Source: What Millennials Want by Asset Based Lending (RealTrends)