10 Ways to Appeal to Younger Buyers, Plus a Bonus Tip
Millennials represented the largest cohort of home buyers at 25 percent, according to the National Association of Realtors’ 2020 Home Buyers and Sellers Generational Trends Report. Many sellers want to know how to attract this generation of buyers, so we’ve compiled a list of what they are looking for in a home.
A well-equipped kitchen and updated bath. Younger buyers have limited budgets, so most of their savings will go toward buying the home. Young buyers cannot afford to sink a lot of money into renovation.
Outdoor living rooms. Relaxed outdoor retreats are in high demand, especially in our climate where indoor/outdoor living is so lovely.
Updated interior. These buyers do not have the time, money or desire to renovate, so built-ins and fresh paint are key.
Technology. Strong cell signals and great Internet service are important to this generation. There are work-arounds for weak cell coverage, so be prepared to talk to that point. Also, smart home devices like security cameras, thermostats, appliances, lights, doorbells, and blinds are just small parts of the home that can be controlled from your cell phone.
Low maintenance flooring countertops, decks/patios. Most young buyers don’t want to spend weekends on the honey-do lists like their parents did.
Energy efficiency. Increased efficiency allows them to protect their budgets while satisfying their environmental consciousness. While commute time/distance is by far #1 on their list of importance in this area, the smaller the carbon footprint of the home, the better.
Home office. More than 13 million Americans worked from home before the Pandemic according to U.S. Census data, and all signs point to that trend continuing, even when we can return to offices.
Separate Laundry room is great so they can close the door and hide the unfinished piles of laundry. That extra door also helps reduce noise transmission.
A secure yard for pets. A full 73 percent of millennials currently own a pet, according to the American Pet Products Association. That is a larger share than any other demographic.
Assurances that plumbing and electrical infrastructure is good to go. 39% of all buyers who purchased new homes did so because they wanted to avoid renovations and problems with plumbing or electricity that an older home might have.
Bonus Tip: 93% of these young buyers searched for their home on the Internet, so if you’re looking to sell, make sure your real estate agent is maximizing your home online and creating plenty of mobile-friendly content including photos and detailed information.
If you would like to read the report, it is free and available to all HERE.
If you need help buying or selling, we are here for you.