5 Tips for Making Your Home Attractive to Younger Buyers
Look out – Generation Y is making waves in the housing market. If you’re planning on selling your home, you’ll most likely be attracting the younger generation. Millennials and younger buyers are a large portion of the real estate market, nearly 35 percent. Plenty more are moving out to Minnesota for steady jobs, higher salaries, and prime housing. Homeowners might initially wince at the idea of upgrading their home just to sell it, but even a few quick fixes can help entice millennial buyers.
Of course, it isn’t just renovations, updates, and staging. You’ll want to make sure you’re making the right changes to your home to attract a buyer, especially if you’re aiming to please more discerning millennial tastes. A simple renovation to one room or another and a quick-and-easy sprucing up of your exterior can increase your chances of selling.
Here are five ways you can make your home fly off the market.
1. Shell Out for New Kitchen and Bathroom Appliances
Most young buyers want to avoid a remodel of their new bathrooms and kitchen—many are short either on cash or on time. You’d be surprised at how much a remodel can up your home’s value. With the right remodeling, your home will be especially attractive to millennial buyers. Showcase your Minnesota view with new granite countertops or shell out for a new tub and tiling in the bathroom. New, modern tiling and countertops that are easy to clean can be a major selling point to young buyers. If you decide to remodel, it’s likely that you’ll make your money back in the process of selling.
However, if you’re on a stricter budget, a few new changes can help your chances of selling your property: buying new appliances for your kitchen, such as a new refrigerator, stove, or dishwasher, can improve your chances of selling your home. Replace your old appliances with sleek, modern ones in a stainless steel finish. If your bathroom is looking just a little drab, try re-caulking and re-glazing your tub or shower. Give both the bathroom and the kitchen a fresh coat of paint. Choose a soothing color, such as a pastel purple or light blue. Steer clear of dark colors—they often photograph poorly, and make a room look less inviting. Stick to a neutral palette and keep a few candles around to foster a sense of serenity in your home.
2. Build a Deck or Outdoor Living Area
Millennial buyers look for places to host parties, or to enjoy a glass of wine in nature. Young homeowners want their homes not only to be a place to live, but a place to foster wellbeing. Capitalize on beautiful Minnesotan scenery with an outdoor living space such as a patio, a deck, or a balcony. Add visual interest with a few potted plants. Purchase a comfy outdoor couch and chairs to make it more like an outdoor or screened-in living room. If you want to really make a cozy outdoor space, add a firepit to make a space that’s perfect for hosting outdoor parties and cookouts.
3. Get Smart—And Low-Maintenance
It’s time to get savvy. Young buyers will be drawn to homes that successfully integrate technology in their living spaces and stress-free living. This means technology that can streamline their lifestyle and low-maintenance house materials. Most millennial buyers prefer home that are no muss, no fuss. So, ornate cabinetry and grime-collecting wall-to-wall carpeting should be scrapped for flooring and shelving that’s open and easy to clean.
As for tech, consider installing smart technology, such as a new thermostat or an Amazon Echo. Keep up to date with new ways to integrate your entertainment system. You might even spring for keyless entry, a home feature gaining traction with young buyers who prefer locking up with the ease of their smartphone. Additionally, you’ll want to think about getting a real estate agent who is well-versed in how millennials communicate. Otherwise, you may lose buyers who feel like they’re out of the loop.
4. Create an Open Floor Plan
If you’ve got a little to spend, consider opening your space. Millennial buyers look for flex rooms. Flex rooms are rooms that can serve in a variety of capacities. That said, millennial buyers also prefer large, open spaces. If there’s a wall between your living room and kitchen, remove it to create an open space to entertain.
Even if a full remodel isn’t affordable off the bat, you can create the illusion of a spacious room with a few choice decorations and a little staging. Adding a few mirrors to choice spots in your home can make your home seem more spacious. Also, adding a little extra lighting or a potted plant can brighten dark corners.
5. High Efficiency, Low Energy
Lastly, you’ll find that a big-ticket item for many young buyers is low energy costs. Most buyers, young or old, don’t want to spend hundreds of dollars every month on things like electricity or water. You don’t even need to shell out for solar panels. Inexpensive fixes can vastly improve utility costs, such as adding attic insulation or insulating ductwork. Installing high-efficiency windows can also help to combat drafts during Minnesota winters, but so can weather stripping and caulk. Article Written by Haley Kieser
