If you want to sell your house to a millennial successfully, you have to know what they want and what they need. And although there is no perfect buyer profile for the typical millennial, this generation has specific characteristics:
What is the millennial homebuyer like?
Before we start talking about specific home details like door jambs sets, let’s talk about the characteristics of the millennial generation:
- Early to mid-20s
- Just entered the workforce
- Prioritize affordability and proximity to the workplace
- Often start by renting
- Late 20s to mid-30s
- Building a family
- Prioritize the quality of neighborhood and community
- More open to living in the suburbs instead of urban areas
There are specific differences between younger and older millennials. However, in terms of home design, the majority of the people in this generation want the same things:
What design features do millennials want in a home?
The idea of minimalism in home design and architecture grew stronger with the coming of the younger generations. Back then, baby boomers preferred cozy and inviting home designs, entailing brighter colors, bulkier furniture, and farmhouse-inspired aesthetics. Today, the millennials prefer a “less is more” design principle with sleek lines, muted colors, and the lack of decorations.
Having said that, if you want to attract millennial buyers, updating your home design is always a good place to start. While there is a small market for millennials who prefer traditional aesthetics, the majority of people belonging to this generation prefer a more straightforward, modern design.
Smart home features
Millennials grew up with the rapid development of modern technology. As a result, this generation prefers homes with smart home features, such as programmable thermostats, updated appliances, security tech, and doorstep cameras. If the house you’re selling comes with these smart home technologies, millennials see this as a strong selling point.
Remote working set-ups are becoming more common nowadays. Many millennials work entirely from home or have the option to work from home a few days a week. Thus, many millennial home buyers are looking for houses with functional workspaces.
If your house has an extra bedroom or an empty nook in the kitchen, converting it into an office space can bring in more interest from the millennial market.
Grandma’s yellow wallpaper in the kitchen might be the bomb back in the 80s, but times have changed. Millennials prefer neutral and earth tones now, primarily influenced by the minimalism trend. Update your house’s colors with muted shades, such as variations of white, gray, tan, and beige.
Functional outdoor spaces
Millennials aren’t necessarily looking for sprawling yards with a picket fence. Instead, they prefer functional outdoor spaces. Landscaping is also a must. However, avoid overcrowding the yard with foliage, especially if it’s already small, to begin with.
As a seller or an investor, you have to adapt to the changes in the market, particularly the emergence of new buyers. And since the millennials are continuing to dominate the housing market, figuring out what they want in a house is the best place to start.