Millennials now make up a large percentage of our country’s population. According to the National Association of Realtors, they also now make up around 42% of home buyers. As their family sizes increase and they begin to reach their prime earning potential, a new and larger home is something that may be on their radar. Having a home that appeals to their wants and wishes is the way to sell your home quickly and for a good price. So what is it that they are searching for in the next, or first home?
Coming out of smaller apartments, many Millennials start their search by looking for a larger space. They are looking for a home with a large kitchen and maybe a basement, a home they can “grow into”. Also, a place to store the things they have or want to acquire ranks heavy in their list of wants.
A Dedicated Home Office
Many companies now offer work from home options for their employees. Trying to conduct business out of the living or dining room just doesn’t cut it for Millennials. They need an office where they can conduct conference calls away from the confusion of daily family life. If you have a spare bedroom or small den, don’t stage it for a guest or a TV viewing room, stage it as a home office. Provide good lighting, additional power outlets, maybe some USB ports, and shelving or bookcases. Having wall space for a projector and larger screen is a plus. That way these savvy homebuyers can see the room’s potential as a dedicated home office.
Smart Home Technology
Millennials live in a fast-paced world and have grown up with smartphones and tablets in hand. These are the first things that they will reach for when they want information about almost anything. A convenient lifestyle is high on their list. They are looking for homes that contain features that can be controlled remotely from their electronic devices. Having automatic lighting, smart thermostats, remote entry door locks, and home security systems, and automated window shades are almost must-have features in a home.
A Modern Expansive Kitchen
A kitchen no longer is just a place to prepare food. It has become a place to entertain while cooking. Swap out that stainless steel sink for a farmhouse version. Upgrade your kitchen appliances to stainless steel, with possibly a built-in beverage cooler. An island, whether fixed or movable, is a desirable option as well.
Simple Bathroom Upgrades
If your bathroom vanity has only one sink, upgrade it to two sinks. Add some mood lighting options and a high-tech showerhead. Get rid of that overly large mirror and replace it with stylish options above each sink. In the Millennial family, there is usually more than one person getting ready to head out to work at the same time.
A Place to Store Things
Ample storage and organization possibilities are important to this generation. They don’t want to run around the corner to the self-storage unit to grab what they want. If your home has a garage, add adjustable storage racks to the walls and maybe add an overhead storage unit. Upgrade closets with organizational storage features. Great storage solutions can make a home seem larger than it actually is.
Outdoor Entertaining Space
The Millennial homebuyer wants an outdoor living space where they can entertain family and friends. A nicely decorated deck or a patio can add to your home’s appeal to these buyers. By simply displaying comfortable seating and maybe a fire pit, you can help Millennials to imagine the many possibilities of quality time spent in the backyard.
Millennial Home Ownership Is on the Rise
Millennials are entering the housing market in increasing numbers these days. Elegance and convenience are the things that attract them. By putting emphasis on what these features are in your home, you will attract the interest of this large group of homebuyers.
CTTO: Karl Kennedy