Attracting Millennial Home Buyers

Millennial homebuyers, classed as those born between 1980 and 1995, are not only the largest generation on the planet but they now also represent the biggest proportion of homebuyers in the United States. This means that this is the demographic that sellers should be thinking about targeting when they put their homes on the market.

However, millennial homebuyers have very specific desires when it comes to what they are looking for from their property purchase. Here’s what you need to know about the best ways to attract millennial home buyers and secure a great sale on your property. 

 

Make Sure Your Property Listing is Detailed and Uses Amazing Photos and Videos

Research has shown that 94% of millennial buyers start the process of looking for their new home online, looking at property listings. While they will eventually use a realtor, initially millennials will do all of their research themselves, potentially spending hours learning about the area and the market here before even looking at properties. For millennials, high-quality photographs and video presentations are absolutely crucial for them to even consider a property. These, along with comprehensive property details, will be used for them to create a shortlist of potential homes to view. 

 

Think Smart Technology

Millennials are all about convenience and cost-saving and smart home technologies make both of these possible. For example, lighting control systems, automatic door locks, and smart garden irrigation. You can also get thermostats with apps that enable you to control heating and hot water directly from your phone. This means that you can set it to come on and turn off exactly when you want it to, from anywhere at any time. Cold morning? You can turn the heating on from your bed and wait until your home has warmed up before getting up! If your home has any smart technologies, make sure these are included in your property listing. 

 

Think Green

Millennials are also one of the most environmentally-conscious generations with75% of millennials willing to pay extra for sustainable products. This commitment extends to their home buying, with the majority also preferring to choose homes that have eco-friendly features that can help them to reduce their carbon footprint. Smart thermostats, energy-efficient lightbulbs, solar panels, additional insulation, and more can all make your home more appealing to the strongest buyers on the market. Again, if you have any of these features already, make sure that they are noted on your listing or if you can, consider investing in some green upgrades to maximize the desirability of your property. 

 

Create a Neutral, Spacious Environment

Visualization is an important part of securing a home sale. For someone to seriously consider making an offer on your property, they need to be able to visualize themselves living there. This is especially true for millennials who want to start with a completely blank canvas that they can shape themselves. Remove any obvious personal effects such as photographs, certificates, and children’s artwork, and place them into storage. You should also remove any excess furniture as this will help to maximize the space that you have available – something that is also very appealing to millennials. Creating space helps them to visualize the way in which they can make each room work best for them and their needs. 

 

Carry Out Any Repairs That are Outstanding

Millennials are a generation that has grown up with technology and who rely heavily on apps and other tech solutions to help them navigate their way through life. Unfortunately, this also makes millennials less capable when it comes to DIY and sometimes even the smallest job can seem overwhelming. If your home has any obvious repairs outstanding, not only does your home look less cared for, but it could be enough to turn off millennial buyers and lose you a sale. Make a note of any broken tiles, faulty light switches, etc and get them sorted before you arrange for your home listing photographs to be taken. 

If you are putting your home on the market and would like more advice on how to attract millennial home buyers, don’t hesitate to contact our office in Rancho Cucamonga, CA where our team would be happy to help.