Millennials make up a lot of the potential buyer market. Here are some ways to make a home more millennial friendly when trying to tap this market, according to Redfin's Whitney Bennett.
Create an Open Floor Plan
Millennials are attracted to large, open spaces. In 2014, the National Association of Realtors found that most younger buyers are interested in large, open spaces with fewer walls and partitions. Younger buyers want larger spaces to entertain or use as multi-functional rooms. They don’t want to feel like their family has to be sectioned off in different parts of the home. Creating a space that can double as a home office is also interesting to many younger buyers. Although many do commute to work, they tend to work from home in the evenings to finish up on projects. Creating a space for a home office can also draw younger buyers.
Tout the Home’s Walkability
A “walkable community” means the home is near public transportation, grocery stores, restaurants, local businesses and public services. Homes receive a Walk Score based on how many errands can be accomplished on foot. Younger buyers are very interested in homes that have a great location, especially considering the amount of money that gas costs these days and average commute times. If your home is considered walkable, make sure to market it that way. You’ll have more millennial interest, and you’ll potentially be able to price it higher. According to Redfin.com’s recent study, each point on the walkability score can increase a home’s price by an average of $3,250.
Choose Low-Maintenance Materials
Younger buyers are interested in low-maintenance homes. They don’t want large gardens that need constant tending, and they don’t want to spend their time fixing and cleaning the homes. They want things that will last and are easy to maintain. Consider choosing low maintenance materials such as quartz or recycled glass countertops when redoing the kitchen or bathroom.
Add Smart Features
Adding technology to the home (such as adding a smart thermostat or energy efficient appliances) can also excite younger buyers into purchasing the home. Many younger buyers are interested in looking at homes that can be controlled from a smart phone. There are many different products that you can use to turn your home into a smart home.