Millennials (people born between 1980 and 2000) are the second biggest home buying segment in America right now (according to the 2013 National Association of Realtors study on housing trends). The biggest home buying segment right now are the Gen Xers (born between 1965 and 1979). These two groups of home Buyers may seem wildly different due to age differences but in general they have a very similar list of “must-haves” for their new homes
- Updated Kitchen and Bath: Younger home buyers want a home with updated kitchens and baths because, generally speaking, they are on a budget and most of their savings will have gone into the down payment for the home.
- Big Kitchens and Open Floor Plans: Younger homeowners entertain differently than their parents did. Now the gathering happens in the kitchen whether it is a casual family dinner or a larger party. A kitchen that can transition into a TV viewing/ lounging area is also high on the list. Essentially, the kitchen is becoming the new den.
- Have a home office: Over 13 million Americans now work (at least partially) from home. You can take advantage of that by staging a little used area or smaller bedroom as a home office.
- Location, location, location: There are two types of younger buyers out there. Those with kids and those without. Those without children want to be close to where the action is and have a higher walk score (think urban neighborhoods like German Village or the Short North) while those with children may want to be closer to playgrounds, daycare, and schools.
- Low maintenance:Younger buyers are generally looking for homes with low upkeep features like hardwood floors and granite counters. They want the weekends to themselves, not spent cleaning or doing chores. The more low maintenance options your homes have the better your chances of selling it quicker.
- Staging: Home shows on that cable station (you know which one I’m talking about) have raised the bar on what potential home buyers want to see when they walk into a home. You need to show younger home buyers what their new home could look like and not force them to try to visualize it for themselves. This is the perfect time to clear the clutter and simplify.
- Online photos: Younger buyers start their home search online (90% of people start their home search online). If you don’t have great pictures that show off the best features of your home online immediately then you just may lose out to a home that does.
There are many factors that influence the sale of your home. These are just a few ways to help get your home sold. If you are considering selling your German Village, Merion Village, or Schumacher Place home then contact Hannon & Graves of KW Classic Properties. We can sit down and outline for you the best way to get your home sold in the shortest amount of time for the most amount of money.