How to Appeal to Millennial Buyers

If you haven’t heard of the millennial generation, they are the generation born between 1982 and 1994. In the real estate world, this generation of 22 to 34 year olds are a very special pool of buyers who have a unique mindset when it comes to important things in a Huntsville home.

I wanted to talk today about making your home a millennial magnet, and how to make sure your listing gives them what they’re searching for. Their offers will reflect how they view your home, and which changes they already envision making to it.

Homeowners should forget about how they used and enjoyed rooms when they moved in 10 years ago, and focus on transforming them into new spaces. For example, bedrooms are now “sanctuaries,” bathrooms are now “spas,” rec rooms are “man caves,” and garages are “studios.” Give them something to be excited about when they prepare an offer!

Start by getting rid of high-maintenance landscaping and add a few trendy details like a hammock or a fire pit. That’s just the beginning.

1. New Functionality & Cool Design Matter
To millennials, many rooms have new functions and, therefore, should look very new and different from the decor many sellers have preserved  from their move-in decades ago. TV rooms are now media rooms; bedrooms are now sanctuaries; bathrooms are spas; recreation rooms are man caves and garages are studios. Keep in mind that rooms themselves are on the out. Open concept is the preferred “dream home” configuration. Sellers must disregard how they have used and enjoyed specific rooms to concentrate on transforming old rooms to look like the right new space. Hot real estate markets have millennials feeling that they are settling for less than they want. Give them something to be excited about when they prepare an offer to buy your property.

2. Fun-Filled Low-Maintenance Yards Are Mandatory
“High maintenance” is out! This includes in, on, and around the house and especially in the landscaping. Temperamental roses, shrubs that demand pruning, bulbs that must be dug up each fall, plants that must be watered, lawns that need mowing, and anything that adds to millennials’ “To Do” list does not add value. Environmentally-friendly, low-maintenance landscaping along with anything fun, like hammocks, earn “wows” and add value for buyers. Fire pits, outdoor kitchens, and party zones display more value than high-maintenance fish ponds and fountains. Our Listing Specialists know when swimming pools are a plus or are considered a work zone by buyers, so get our opinion if you’re unsure.

3. Storage is a Plus
Millennials are moving from their family home, college dorm, or starter apartment, none of which provide enough storage. Adding storage is equivalent to adding space — you can never add too much storage.

4. Walkability Is Key
What’s in the neighborhood can hold more value than what’s in the house. Proximity to cool places and hot spots represents big value to buyers. Millennials think of their dream home as the center of a universe of fun and convenience. Sellers need to switch from evaluating the area from their own point of view and consider it the way 20- and 30-somethings do.

5. Bearable Trade-Offs
Urban lifestyles in major cities like New York are irresistible to most millennials until they start a family. Then, the less expensive, traditionally-safe suburbs look attractive. Sellers in the ‘burbs should check with our real estate team of professionals to learn which benefits local millennial buyers value most — proximity to parks, restaurants, a large entertaining-friendly yard, great schools…to understand how the seller’s home will rate against local attraction factors. Recent studies have revealed that millennials are buying in markets they can afford, and specifically, where there are good paying jobs.

For more valuable ways to market to millennials or any generation, give me a call or send me an email. I’d love to show you why our team specializes in this area.

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