What Millennials Look For when Buying a Home

What Millennials Look For When Buying A HomeDid you know 66% of Millennials (born between 1981-1996) plan on buying a home within the next five years? This home-buying generation makes up 34% of all current home buyers and 66% of first-time buyers.

Having your home “Millennial ready” is a very good idea for this large buying group. Here are some tips on making your home more appealing to them:

Everything Needs to be Just So
Millennials prefer homes in top shape and move-in ready. Have your home up-to-snuff with all repairs and upgrades completed. If you cannot have update your baths or kitchen, consider at least replacing the fixtures in those rooms.

Open Kitchen Floor Plan

Millennials prefer homes with open plans flowing from room to room. Almost 50% of them desire a luxury kitchen. Dining rooms are not a top priority, but a home office is appealing.

These buyers are looking for low-maintenance features. Wood floors and granite countertops are viewed as hassle-free.

Stage Your Home for that Generation
Most of Millennial home buyers do online research for hours ahead of time. They are going to look at your home’s photos online – on their mobile device. The decor in your home should be appealing to them.

Staging your home for this generation could work to your advantage: Statistics indicate 76% of Millennials drove by a home they saw on the Internet and 60% had personal tours of homes based on photos they viewed.

Staging a home is helpful because it makes a buyer feel at home right away. Mid-century decor is very popular right now with clean lines and edited accessories.

Location
Most Millennials (65%) will select their home based on how close it is to work. Walkable neighborhoods are also appealing, so if your area has a good walking score, play it up.

Technology and Energy Efficiencies
Millennials value strong wireless and Internet service. Land phones are not necessary. Smart home features are also attractive to them.

Homes with green features are appealing to these buyers. Although this is not a top selling feature, if your home is efficient, it could draw more interest. Think about upgrading old appliances for Energy-Star versions.

Statistics source.

 

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