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- Millennials make up 35% of homebuyers.
- If you’re selling your home, you should pay attention to the unique needs and preferences of millennial buyers.
- Small renovations to your home’s lighting, floors, and outdoor spaces can make it more appealing to millennial homebuyers.
Millennials make up the largest generation in the US, and 34% of all homebuyers.
Although it’s true that millennials are happier living in urban settings, those that are buying homes are now gravitating toward the suburbs, according to a recent study by the National Association of Realtors.
The typical buyer is married with kids, is looking for more space at an affordable price, and views home ownership as an investment, the study said. So if you’re a seller, you should be paying special attention to this market, which has its own set of needs and preferences.
Before they even contact a realtor, they’ve spent every spare moment perusing Zillow, creating Pinterest boards, combing Houzz for design ideas and making lists of “must-haves.”
Read more: My husband and I bought our home, but if I had to do it all over again I’d choose to rent instead
“Small changes will optimize your online imagery,” Erin Feeney, a top realtor with the William Raveis real-estate agency in Boston, told Business Insider. "You’re capturing them first on Realtor.com or Zillow, and if your pictures scream ‘old,’ you won’t get the crowd you want.”
To make sure your home gives them at least some of what they want, here are eight relatively low-priced upgrades and improvements you can do to appeal this generation of buyers.
Give your front door some attention
Flickr / Corey Templeton
It’s the first thing buyers will see, so you’ll want to create a Pinterest-worthy impression.
“Change the lighting, the mailbox, house numbers, and paint the front door,” Feeney told Business Insider. “You’ll want to remain in keeping with the style of the house." But as rule, go for more contemporary styling.
Install smart home technology
Nest
Ditch your old-fashioned doorbell for a video system such as Ring, which allows you to see, hear, and speak to anyone at your doorstep via a smartphone app.
Young couples who both work, or who are caring for young children at home, will appreciate the extra convenience and security. Also consider mobile-controlled locks, and thermostats, such as Nest.
Update your lighting
Cancan Chu/Getty Images
"Light fixtures are a timestamp on a property,” Feeney said.
In other words, those round, flush-mounted ceiling fixtures in antique brass have to go.
“Change them out for something more contemporary like a semi-flush fixture with a drum shade,” she said. Update the fixtures in your bathrooms while you’re at it, and switch to LED lighting with dimmer switches wherever possible. This will help you adjust the lighting according to the time of day your house is being shown.
See the rest of the story at Business Insider
See Also:
- 5 major differences between the lives of millennials and baby boomers
- I deleted all the apps off my phone for a week — and it was harder than I could have imagined
- 14 signs you’re secretly the boss’ favorite
SEE ALSO: 5 major differences between the lives of millennials and baby boomers
DON’T MISS: My husband and I bought our home, but if I had to do it all over again I’d choose to rent instead
Source: Business Insider – feedback@businessinsider.com (Donna Fenn)