How To Market Your Home To Millennials
The results are in: millennials are playing an increasingly prominent role in the real estate market. Millennials (adults ranging from ages 18-34) were slow to buy their first homes for quite a while, but the balance has tipped and millennials are now surging into the market. If you want to take advantage of this growing population of buyers, there are a few specific things to keep in mind when selling your Lake of the Ozarks home. I'm here to help!
7 Tips To Help You Sell Your Home To Young Homebuyers
While each homebuyer is entirely unique, there are some general trends that have emerged when it comes to the younger demographic. In my experience as a real estate agent at the Lake of the Ozarks, I have identified several strategies that can help you successfully market your home to young homebuyers. Here are a few of the highlights.
1. Take Care Of ALL Necessary Repairs
While they may have finally scraped up enough money to cover the down payment, most millennials do not have a lot of excess spending money. As a result, the majority of them will be looking for move-in ready homes that are already in good condition. By taking care of any needed maintenance and/or repairs on your home before putting it on the market, you will be able to make your property much more appealing to the younger demographic.
2. Stage An Extra Room As A Home Office
As more and more companies embrace the freedoms modern technology provides, an increasing number of millennial employees are working from home either part- or full-time. As a result, having a home office is becoming a top priority for most millennial homebuyers. If you have several bedrooms, it may be advantageous for you to stage one of them as a home office space.
3. Highlight The Resale Value
Most millennial homebuyers aren't yet looking for their "happy ever after" home. Many of them are still largely unsure of where their futures will lead, so they are looking for homes that will serve as both a comfortable home and a financial investment. By playing up the opportunities to add value to the property and improve its ultimate resale value, you may be able to attract the younger demographic.
4. Say No To Carpet
Generally speaking, millennials aren't interested in carpet. Hardwood floors are more subtle and easier to maintain - two characteristics that are extremely appealing to many millennial buyers. If you are considering replacing your flooring before listing your home, skip the carpet in all but the bedrooms.
5. Promote Your Home's Accessibility To Local Establishments
Forget the finer things - millennials are drawn to the faster things in life. To millennials, a house's ease of access to nearby essentials and attractions are just often just as important as the property itself. While you obviously can't alter your home's location, you can play up its proximity to shopping centers, schools, hospitals, etc.
6. Open Up
By and large, millennials are big fans of the open floor plan concept. Whereas their parents use to entertain in the dining room, young people tend to gather in the kitchen and living areas. Consequently, they tend to gravitate towards homes larger kitchens and open floor plans that blend together the living and dining areas. If you are considering remodeling your home, opening up the floor plan will help it appeal to younger buyers when you are eventually ready to sell.
7. Market Your Home Online
Young homebuyers are some of the most likely individuals to use a Lake of the Ozarks real estate agent to help them in their home search, but they're also the most likely to search homes online well before they are ready to tour them. If they don't like what they see online, they could easily dismiss the property before taking the time to see it in person. In order for your property to be on a young buyer's radar, it has to be presented well online. Quality photos and complete listing descriptions are absolutely imperative.
I Can Help You Sell Your Home!
Since millennials are steadily becoming more prominent players in the housing market, taking steps to make your home more attractive to younger buyers may be very advantageous. For more tips and strategies to sell your home at the Lake of the Ozarks to millennial (and other!) buyers, give me a call at 573-216-8439. I truly look forward to working with you.
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7 Tips To Help You Sell Your Home To Young Homebuyers
While each homebuyer is entirely unique, there are some general trends that have emerged when it comes to the younger demographic. In my experience as a real estate agent at the Lake of the Ozarks, I have identified several strategies that can help you successfully market your home to young homebuyers. Here are a few of the highlights.
1. Take Care Of ALL Necessary Repairs
While they may have finally scraped up enough money to cover the down payment, most millennials do not have a lot of excess spending money. As a result, the majority of them will be looking for move-in ready homes that are already in good condition. By taking care of any needed maintenance and/or repairs on your home before putting it on the market, you will be able to make your property much more appealing to the younger demographic.
2. Stage An Extra Room As A Home Office
As more and more companies embrace the freedoms modern technology provides, an increasing number of millennial employees are working from home either part- or full-time. As a result, having a home office is becoming a top priority for most millennial homebuyers. If you have several bedrooms, it may be advantageous for you to stage one of them as a home office space.
3. Highlight The Resale Value
Most millennial homebuyers aren't yet looking for their "happy ever after" home. Many of them are still largely unsure of where their futures will lead, so they are looking for homes that will serve as both a comfortable home and a financial investment. By playing up the opportunities to add value to the property and improve its ultimate resale value, you may be able to attract the younger demographic.4. Say No To Carpet
Generally speaking, millennials aren't interested in carpet. Hardwood floors are more subtle and easier to maintain - two characteristics that are extremely appealing to many millennial buyers. If you are considering replacing your flooring before listing your home, skip the carpet in all but the bedrooms.
5. Promote Your Home's Accessibility To Local Establishments
Forget the finer things - millennials are drawn to the faster things in life. To millennials, a house's ease of access to nearby essentials and attractions are just often just as important as the property itself. While you obviously can't alter your home's location, you can play up its proximity to shopping centers, schools, hospitals, etc.
6. Open Up
By and large, millennials are big fans of the open floor plan concept. Whereas their parents use to entertain in the dining room, young people tend to gather in the kitchen and living areas. Consequently, they tend to gravitate towards homes larger kitchens and open floor plans that blend together the living and dining areas. If you are considering remodeling your home, opening up the floor plan will help it appeal to younger buyers when you are eventually ready to sell.
7. Market Your Home Online
Young homebuyers are some of the most likely individuals to use a Lake of the Ozarks real estate agent to help them in their home search, but they're also the most likely to search homes online well before they are ready to tour them. If they don't like what they see online, they could easily dismiss the property before taking the time to see it in person. In order for your property to be on a young buyer's radar, it has to be presented well online. Quality photos and complete listing descriptions are absolutely imperative.
I Can Help You Sell Your Home!
Since millennials are steadily becoming more prominent players in the housing market, taking steps to make your home more attractive to younger buyers may be very advantageous. For more tips and strategies to sell your home at the Lake of the Ozarks to millennial (and other!) buyers, give me a call at 573-216-8439. I truly look forward to working with you.
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573-365-1555
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