5 Tips for Selling Your Home to a Millennial Buyer
Despite the old jokes about Millennials living in Mom’s or Grandma’s basement, this generation is becoming the largest group of today’s home buyers. The National Association of Realtors now estimates that Millennials make up 37% of all buyers. So if you want to sell your home quickly, and for top dollar, it needs to appeal to this Millennial generation homebuyer.
Think Practical Updates
Not every Millennial has to have a move-in ready home, as long as any needed updating doesn’t cut too much into their weekend plans (they are very busy people after all). Here are 5 areas that carry a lot of weight and can be done with a minimal investment to help attract the Millennial buyer.
#1: A Well-Done Laundry Room
It doesn’t have to be a large area, just a functional space. While the traditional location used to be the basement, a better spot today is near the bedrooms or near the back door. The space should contain shelving or racks to store cleaning supplies, a clothes rod to hang items to dry, and a counter that can be used to fold clothing. If it’s possible to add in a small sink for washing delicate items, all the better.
#2: An Outdoor Space
This generation enjoys the great outdoors. Millennials are social and having an area to do some barbequing and the outdoor entertaining of friends is important. Having a deck or patio set up for entertaining is a nice touch. Add some patio furniture, a sun umbrella, and maybe a fire pit. It doesn’t require a large outlay of cash to make this area look comfortable and inviting.
#3: A Home Office
More and more people are working full-time or part-time from their home. Don’t use a walk-in closet or a corner of the kitchen to setup as a home office. Repurpose a bedroom or a small den. A home office needs to be located away from the hustle and bustle of normal family activity. You should display a stylish desk and chair, some additional comfortable seating options, and shelving. The office would be a great place to locate a 4k projector and large screen so that the new owner(s) can make those Zoom conference calls that are so common in business today.
#4: Garage Storage
The garage needs to be more than a place to park their car. Millennials have lots of gear: outdoor toys, sports equipment, bicycles, gardening tools, possibly a kayak or small canoe. So your garage needs to have strong organization potential. Consider adding wire storage racks with adjustable shelves, overhead storage racks, bicycle hangers, and cabinet or two to store automobile cleaning supplies or items that need to be kept out of reach to children.
#5: Smart Home Features
Eliminating inconvenience is a major marketing tool when it comes to appealing to Millennials. Adding a few inexpensive smart home features can do the trick: keyless or remote entry door locks, a DIY security system, a smart thermostat, WiFi enabled electrical plugs, USB charging ports for smartphones and electronic devices. Any items that can be controlled remotely is good, eliminating inconvenience.
The Millennial generation is the top segment of today’s homebuyers. Doing some of the above upgrades will go a long way in appealing to these buyers and getting your not only home noticed, but sold!