Listing your home in a seller’s market doesn’t guarantee that you can pull buyers in just a few days, especially if you don’t study the latest market trend, which indicates that millennials are taking a big slice of the pie.
By simply looking at the growing number of millennials in the real estate industry, it’s easy to see why you need to boost your home’s value with improvements that will attract this generation of individuals. Currently, they are the best target market.
To be more secure, find out who are the right real estate brokers to call when it comes to ideas and suggestions in renovating your house by reading real estate reviews online.
So what do millennials want in a house?
Home Automation System
Millennials are known to be tech-savvy. They love technology so much that most of them dream of having a home that can accommodate their tech-centred lifestyles. Since landlines are becoming less irrelevant these days, millennials expect a property to have a good cell signal service. Make sure that you have equipped your home with a cell signal booster. Sound proofing the home-office room or the entertainment room, automated garage doors, lights, and air conditioners can also attract millennials. Ask the perfect real estate experts to sell your home to techies fast.
Entertainment and Open Spaces
Unlike the older generations, millennials are interested in open spaces for social interactions. Instead of formal dining rooms, they prefer floor plans with the kitchen and dining area connected to one big room where the entire family can gather. Most of them want to have a single-storey family home that has a lot of open spaces and fewer walls to give them a larger area for socialising.
This generation also likes entertainment. Most of them prefer to place a television somewhere in the kitchen than buying another microwave oven. They are also captivated by living rooms converted to home theatres where they can gather for an evening of fun or family bonding.
Energy-Efficient and Low-Maintenance Renovations
Even though millennials are strong users of technology and mostly prefer smart home appliances (those that are energy-efficient, though), they are great in saving money. They love to have a home that keeps their utility bills as low as possible. Smaller homes, open spaces, more windows and skylights in laundry rooms, bathroom, attics, and storage rooms are what they prefer.
Because millennials are mostly busy making the most of their life, they want their homes to be designed and equipped with low-maintenance features. They mostly prefer large floor tiles that require less grouting or hardwood floor instead of carpet. They prefer dark-coloured granite countertop.
In terms of storage, they like to have more cabinets where they can hide things behind closed doors, making the house clutter-free. Instead of ordinary toilets, they want to have floating toilets as these and the surrounding hard-to-reach places are easier to clean. Downlights, tinted windows, and dark-coloured grouts are far easier to clean than tube lights, drapes, curtains, and light-coloured grouts, which easily accumulate and show dirt.
Eco-Friendly Exterior Upgrades and Add-ons
Millennials love to have a bigger outdoor living space than their own living room. Adding exterior upgrades like porches, patios, and decks can boost your home value in the eyes of this age group. Another important feature you might want to improve to boost your property value is your kerb appeal.
More than half of the millennials prefer fixer-uppers than ready-to-occupy homes. One reason is that these types of homes come at great prices. But, that is not the main point. These people want to have their fingerprints in their homes. So, leave some places in your house that they can improve or turn into something that fits their lifestyles or reflects their personal taste and style.
Technology advancements have attracted millennials to engage in more flexible jobs, allowing them to work anywhere they want. Because of this reason, a home office becomes an appealing improvement to add value to your property.
Considering your prospective buyer’s lifestyle and profile can help you decide how to best upgrade your house and ensure a quick sale. Since your target buyers are Millennials, renovate according to their needs.