If you are thinking of selling your home, you want to ensure that your property appeals to the widest possible number of buyers. At the current time, millennials represent almost half of all homebuyers which makes attracting their attention essential if you want to increase your chance of making a quick sale.
Nevertheless, millennials have some different priorities to the older generation of homebuyers, meaning that you will almost certainly need to tailor your approach if you are to secure their interest in your home. Here are a few of the key things that you can do to attract millennial buyers to your property.
Nearly all real estate properties are now marketed online since the internet is where virtually everyone of any age now starts their research. However, this means that there is plenty of competition on the same page as your property. If you hire a great real estate agent, make sure that you choose one who has experience in selling online and a positive track record to prove it. And think about what you can do to make your listing stand out from the others. Virtual video tour? Promoted post? Your real estate agent should have some great ideas to help ramp up your interest from millennial buyers.
Millennials are big fans of homes that are designed to be as eco-friendly and self-sufficient as possible. Not only are these properties able to reduce their energy bills by as much as 30%, but they also enable them to support the environment by reducing their carbon footprint – something which is a key concern for as many as half of millennial homebuyers.
You can implement some eco-friendly features more cheaply than others, but any that you do have should be prominent on your home listing, whether this is solar energy, environmental insulation (earthbags, bamboo, straw), other eco-friendly construction or the installation of water butts. Make sure that these features are clearly listed on your marketing information.
Millennials are also very keen on properties that make the most of the latest home technologies. There is a wide range of different technology-based improvements that can be made to your home, and with some of them being fairly low-cost to implement, it may be worthwhile considering adding them before putting your home on the market to ramp up your appeal to the millennial demographic. Some examples of home technologies that you may wish to consider include:
Automated lights, blinds, and door locks
Video doorbell solutions such as Nest
Wireless garage door sensors
State-of-the-art security systems
Again, make sure that any technology systems that you have in place are prominent on your home listing so that they stand out to millennial buyers.
Visuals are important to any potential buyer, but particularly to millennials who are the first generation of internet uses and who largely rely on photo-based platforms such as Instagram to influence their purchases. However, since they are used to seeing images on these platforms, most of which are heavily-edited to ensure maximum saleability, it is essential that the images of your home meet with their expectations. They need to be professional, attractive, and maximizing on what is most important to millennial buyers – space and light. If you aren’t sure that you can provide images that are up to scratch, think about hiring a professional photographer who can bring your home to life on the screen.
Open-plan living isn’t a new concept, but it is something that is especially attractive to millennials, for whom space and flexibility is key. Millennials want to be able to be together in the family home whilst doing different activities, and doors and walls get in the way of achieving this. If you can safely make any structural changes in a cost-effective way to improve the openness off your property, then this will improve its appeal to this demographic of the buyer. However, even if you can’t tear down walls or remove doors, there are other things that you can do to make your home seem more multi-functional, including rearranging furniture to improve the flow around the room, removing clutter to create the illusion of more space and choosing multi-purpose furniture which will help them to visualize the possibilities that your home offers. For example – a wall unit that converts to a desk, shelving built into under stairs space, or a pull-down projection screen rather than a space-sucking television. The more creative your solutions, the more appealing they will be too innovative millennial homebuyers.
For more advice on how to attract millennial homebuyers to your property, please speak to our expert real estate team in San Diego, CA today.