3 Things Millennials Care About in Real Estate
Millennials have become the largest generation in America and now represent 40 million Americans. They have a significant influence on the real estate industry. It has become increasingly important to understand their taste when it comes to expectations for homes.
There has been a major shift in the real estate world. Sellers need to understand what this new generation of buyers care about so that the real estate community can thrive. This generation takes many things into account when buying a home. If you want to attract them, knowing what motivates them to pull the trigger on an offer should be of the untmost importance.
Firstly, the expectations for most Millennials today is a house that is modernized. The homes that have a nice open concept to the design are selling fastest. Open floor plans feature no walls between the rooms of the home. Open floor plans are meant to make the home inviting and easy for the owner to host events and engage with their guests. Millennials want their home to have a social vibe. Also, the design must be light and bright. Millennials want to be surrounded with things that motivate and relax them.
Secondly, Millennials put a huge value on the location of the property. For instance, most of them would prefer somewhere close to where they work. They also want to be near urban areas for recreation. They feel a strong need to be close to shopping, schools, restraunts, and nature parks. Most Milliennials are willing to pay a premium if your property can check these boxes.
Outdoor Living Spaces
Lastly, Covid-19 has made a strong influence on how Millennials view areas outside of the actual building on the property. With everyone having to stay at home for an extended period of time during the worst of the pandemic, outside time became incredibly valuable. Homes that offer areas for outside living will attract Millennials. They are looking for patios, proches, gardens, swimming pools, and gazebos.
Millennials have a specific product that they are looking for. They want to live somewhere modern that is in a suitable location, and that allows them to enjoy the great outdoors. Sellers should consider making some of these upgrades to their current homes if they are looking to sell it for top market value.
To learn more about what Millennials are looking for or if you have any questions about your property, contact the licensed professionals at Homeinc. We are here to help you with all your real estate needs. Call or text the team today 1-888-850-2636.