The Millennials – born in the 1980s to early 2000s – are just entering the market. If you plan on selling your house in Bethesda, it will help to know what these new buyers are looking for. You may not be able to address each point, but knowing what they are looking for can help you when you prepare your home for sale and let you highlight the right features.
After researching several articles and speaking to a few Millennial buyers, there are certain things they’re looking for when purchasing a home.
14 Tips You Can Use:
1.LOCATION: Some will want easy access to their favorite after-work hangouts. They may also want to live closer to work. Millennials have seen their parents put up with long commutes and want more out of their life than sitting in a car.
Find out the “walkability” of your home if you can. Let your agent know what it is.
2. Good Schools: Some in this age group are starting families and schools are definitely important to them. Highlight your schools.
3. Techie homes: They want to be able to control things with their smartphone, and they must have a good cell coverage. Most of their homes will be controlled with their smartphone. If your home has good cell coverage, celebrate it. Many Bethesda homes still don’t!
4.Flexibility in their home: Specifically, they want spaces that they will use and are flexible. They don’t want spaces just to have them. They aren’t necessarily looking for a formal living or dining room. Stress the flexibility of your home’s layout.
One Millennial I spoke with who was just beginning her home search, said she didn’t want to get caught up in more house than she and her husband needed. She saw her parents do that and didn’t want the burden.
5.Open Floor Plans: They want more open floor plans and rooms that reflect their lifestyle. The basic kitchen, dining room, formal living room, family room design where every room was separate is not what they’re looking for.
6.Home Offices: If you have an extra room, why not show it as an office, if you have the furniture.
7. Low maintenance homes: The millennials don’t want to be tied every weekend to home maintenance. If you have deferred maintenance projects, address them before you put your home on the market.
8. Energy efficient homes: If you need to replace your older appliances, make sure they’re energy efficient.
9. Stage it: Millennials have watched the shows on cable and their expectations are higher than previous buyers. They have become used to seeing near model perfect homes.
10. Online Picture Perfect: Oh yes, Millennials, like most buyers, are beginning their search on the Internet. Make sure that your home is camera ready before it goes on the MLS.
11.Move-in ready: This is similar to # 9 but Millennials are less inclined to take on a project that will use a big chunk of a budget they don’t have. They also treasure their free time and don’t necessarily want to spend it working on their home.
12.Color: Studies have shown that millennials actually want color on their walls. Painting your walls all white before selling your home was last century. “Neutral” as in beige, grey, or taupe are safe choices.
13. Wood not carpet: Consider this if you are making any updates to your flooring. Remember, millennials want low maintenance homes!
14. Updated kitchens and baths: Millennials may not have the extra budget to start updating your 80’s kitchen or bath! However, you don’t have to break the bank. Consider granite countertops, new hardware and lighting and new or painted cabinet doors.
In your bathrooms, replace/update your light fixtures and consider new hardware here as well.
~Take a look at similar homes on the market in your area. Take note of what your competition is and what kinds of upgrades, if any, have been made.
~Hire a knowledgeable real estate agent with local knowledge. They will be able to tell you what buyers in your area are looking for.
~Enlist the services of a professional Home Stager, who can give you a plan that will fit your time frame and budget.
When you are ready to sell your house, make sure it appeals to the market that will be buying it.
For today’s buyers… Give them what they want!