A hefty percentage of the home buyer market is now made up of millennials. They’re the next generation entering the market in a big way, and they’re looking for certain things when on the hunt for their forever homes. For one, they’re hugely concerned with energy efficiency and reducing their carbon footprint. They’re willing to invest in environmentally friendly products and are all about going greener with their homes. The way they search for properties has also evolved. Take a look at 6 things you need to know to attract millennials home buyers and how to get ahead of the game!
1. They’re Looking For Experienced, Knowledgeable Realtors
Millennials are very independent, but when it comes to something as important as buying a home, they prefer to rely on the professionals. They want to work with experienced real estate agents that can lead them seamlessly through the home buying process and get them the most out of the deal.
2. They Search For Homes Online
Millennials grew up with the transition to the internet and online information. They do almost everything online, and that includes looking for potential real estate properties. The internet makes it easy for millennials to see all available options and compare different property features. They’re aware of market trends and know what they’re looking for in a neighbourhood as well as a property. They’re interested in the quality of online photos are are influenced by what they find on the web, so as a seller, it’s imperative that the online photos of your home give off an excellent first impression.
3. They Want New, Energy Efficient Appliances
If you’re putting your home on the market, it should be upgraded with new, energy efficient appliances like dishwashers, washers and dryers. Millennials are attracted to the new generation of appliances that blend the latest technology with environmentally friendly features and aesthetics. Choosing not to replace old appliances can be a turn off for millennial buyers.
4. Good Insulation is Important
Another sustainable aspect of any home is good insulation. Proper insulation ensures that your home stays cool in the summer and that heat isn’t lost in the winter. It’s better for the environment and ensures no energy is wasted. Energy efficient insulation also lowers home energy bills, which is another plus for millennial home buyers.
5. Airtight Windows and Doors Are a Plus
Along with good insulation, airtight windows and doors are another great way to make your home more energy efficient and attractive to millennial buyers. If you have the budget for it, triple-glazed windows make a huge difference, and energy efficient doors are also great. If it’s not cost-efficient in your case, weather stripping doors and windows will have a similar effect. Updating and/or replacing weather stripping will seal off any gaps and ensure the air stays out.
6. They Appreciate a Switch to Natural Materials
Consider switching out the materials of old floorboards, kitchen cupboards and decks. Millennials are attracted to natural, non-toxic materials everywhere in their homes. Consider replacing old floorboards with new bamboo or cork floors. Your kitchen cupboards and decks should preferably be made from wood covered in low-VOC finishes. Since you should also be repainting your house, look for paint with zero or low-VOC level.
Knowing how to attract millennial buyers is essential in today’s market. Take these 6 things into consideration before putting your home up for sale!