Despite the economic downturn in 2020, the housing market remains strong — thanks to Millennials. Economists say that more Millennials are projected to buy homes in 2021 and 2022.
According to the National Association of Realtors, this generation makes up the largest home-buying population at 38%.
So, what’s the key to selling your home fast in this current housing market? Swoon Millennials. And the good news is that it’s easier than you think.
Today, we give you tips on how to stage your home and craft an online presence that will make selling your home a breeze.
Millennials grew up in a fast-paced world driven by a sense of self, instant gratification, and multi-functionality. Therefore, your home staging should reflect these values.
Here are a few staging ideas to consider:
Millennials are more socially conscious than previous generations. They’ll even pay 9% more for convenience and sustainability.
Also, 88% of homebuyers say that energy efficiency is a top priority. Millennials want a home that helps save money and save the Earth.
To make your property more appealing, stage it with eco-friendly fixtures. For example, you could include smart thermostats and LED lights. You can even take it a step further and install solar panels and triple-pane insulated windows.
Some other eco-friendly staging ideas include:
Technology plays a vital role in Millennials’ lives — some may even deem it more important than food or water. So they don’t mind paying a little more for a technologically advanced home.
In fact, one study found that 86% of Millennials are willing to pay 20% more for a home with smart technology.
The great thing about upgrading your home to a “smart home” is that it doesn’t take a ton of effort. All you have to do is incorporate features that connect to Wi-Fi or a smartphone.
Here are a few smart upgrades ideas:
Keyless Entry Systems. Good-bye, keys! With a keyless entry system, buyers can open doors with a smartphone.
Video Doorbell. Delight prospective buyers with enhanced safety and security.
Smart home security systems are becoming more and more popular — thanks to their convenience. Video doorbells are a great upgrade because they are easy to install.
Smart Refrigerator. A smart fridge puts the traditional icebox to shame. It lets you see what's inside it without opening the door. A smart fridge also sends phone alerts when a food item needs to be replenished. Millennial home buyers will love this because it's energy-efficient and multi-functional.
USB Outlets. What does the world need? More USB outlets. Having outlets that allow home buyers to charge their devices is a huge plus.
Smart Toilet. Yup, there’s even a smart toilet. With built-in smart technology, a smart toilet has a seat warmer, automatic lid, nightlight, and bidet.
Want to sell your home without the hassles of upgrades or repairs? Get an offer from FlashHouse in just 24 hours >>
About 52% of remote workers are Millennials. So, it's key to include a home office in your staging. The home office should be clutter-free and offer enough space for both work and hobbies.
Along with a home office, there should be spaces that allow for work-life balance. Stage the living room so that it's accommodating for large social gatherings or cozy movie nights.
Staging and making your home appealing is essential, but the actual listing is just as important. An estimated 93% of Millennial home buyers use the internet for their buying process.
Here are ways you can optimize your listing:
Photos can make or break your listing. A listing with high-quality photos sells 32% faster than one with low-quality or average photos.
So, pictures you take with your smartphone aren’t going to cut it. Invest in a professional photographer or videographer.
A seasoned real estate photographer knows how to capture areas of your home so that it looks spacious and inviting.
About 40% of Millennials say that they are confident making an offer on a home without touring it in person. Virtual reality has made home buying easier and could make your home sell faster.
A virtual tour allows the prospective buyers to digitally tour your home and control which part they look at and from which angle. It’s similar to Street View on Google Maps — instead, it’s inside your home.
Setting up a virtual tour is simple. You can purchase a 360-degree camera or hire an experienced real estate videographer.
Millennials are driving the housing market, and they’re looking for a different home-buying experience than their predecessors. So, it helps to keep this demographic in mind when preparing to sell your home.