Millennials are referred to as those people born between 1980 and the early 2000s. This generation currently represents the largest percentage of first-time homebuyers, making them a dominant force in today’s home buying demographic. With such power in purchasing, it comes as no surprise that sellers are keen to discover how they can tap into this market. Here’s our guide to how to attract millennial home buyers to your property.
One of the first things to bear in mind is that you should never stereotype potential buyers based on their age/generation. Many people assume that millennials will only be interested in buying a starter home – a one or two-bedroom property, perhaps at the lower end of the value of homes in the neighborhood. In fact, many millennials are actually delaying buying a property so that they can skip the starter home stage and move straight into their dream home that they intend to stay in for a considerable period of time. This means that you shouldn’t discount your home because it is larger or of high value. Any property can benefit from millennial appeal.
With nearly all marketing for property sales taking place online, great photographs of your home are more important now than ever before. 9 out of 10 millennial homebuyers begin their searches online and the first thing that they look at is the images and videos included in the listing. Every seller wants their home to stand out from the rest, and the best way to do this is to offer the maximum visual experience possible. Make sure all images and videos are exceptionally high quality, ask your photographer to use a wide-angle lens to make the rooms look bigger, and remember to let as much light as possible into each room to create the feeling of space.
Millennials are the first generation to have grown up with access to digital technology and all of the conveniences that it affords. Today, there are plenty of tech firms producing an array of home tech features. Designed to make home living convenient and easy, it’s unsurprising that homes with smart technology are particularly desirable to millennial homebuyers. Some of the most popular smart home features wanted by millennials include:
Smart security features: think video doorbells, mobile-controlled locks, keyless entry, voice-activated assistants, and more. These features can let them check on their home remotely, and even set alarms and let people in and out when they aren’t able to!
Internet-connect thermostat: millennials are also concerned with reducing their impact on the world around them, and for this reason, any energy-saving tech is also highly desirable. Thermostats that are connected to the internet are particularly popular. They can be programmed to be in use only when you are home, ensuring no excess energy is wasted. Over time they can even learn to predict your patterns to help you reduce your carbon footprint without compromising on your comfort.
Automated lighting: smart-lighting allows homeowners to turn lights off and on from their smartphone or tablet, making them ideal for safety and security as well as energy-consciousness
Make sure that any smart home technologies you have installed are mentioned in your marketing as they are sure to grab the attention of millennial buyers.
This is a great way to maximize the appeal to any potential buyer, but particularly to millennials for whom flexible, open living is not just an option, but a way of life. Millennials can be indecisive, and this can make visualizing themselves living in a property tricky. When you maximize your space and keep rooms neutral, you can showcase the flexibility of the areas of your home – a breakfast bar that doubles as an actual bar, a study that could also be a nursery or dressing room, garage space that could also be a gym… the possibilities are endless.
Attracting millennial home buyers could be one of the easiest ways to secure a quick sale on your property. For more advice, please don’t hesitate to speak to our team.