A shortage of home listings on the market in Washington, D.C., is making baby boomer homes attractive to budget-minded millennials, says Washington Post contributor David Charron. But millennials have drastically different preferences for a home than their older counterparts do, so appealing to Gen-Y while still commanding top dollar for a home can be tricky.
Charron dives into the ways that boomers can present their homes in a way that will be desirable to most millennials. To make a good first impression on millennial buyers who like their homes to feel friendly and streamlined, create a "hub" at the front of the home where homeowners can organize keys, mail, bags, and importantly plug in their phones. Second, the generation's high priority on socializing makes the common areas an essential part of the home. Buyers will want to visualize their friends and family gathered in the space, be it for a cocktail party or casual afternoon get together.
Millennials make up the largest segment of our country’s population and will be a driving force in both the real estate market and the economy as a whole. Appealing to their needs and wishes for a home doesn’t have to take too much effort and will payoff substantially when it comes time to put your home on the market.