Nicholas Statman- 10 Home Upgrades That Attract Millennial Buyers

Millennials, individuals born between 1981 and 1996, have been labeled as a lot of things. Entitled, entrepreneurial, tech-savvy, open-minded, and selfie-obsessed, to name a few. They’ve also been labeled the generation of renters. But research shows that millennials are making up a significant part of the property buyer’s market. 

Nicholas Statman

If you are selling your home, it is important that you market to this particular generation of buyers. Here are ten home upgrades that will attract millennial buyers: 

If you are selling your home, it is important that you market to this particular generation of buyers. Here are ten home upgrades that will attract millennial buyers: 

Home Office Space

When it comes to their career path, millennials are doing it a little bit different than the generations before them. For baby boomers, it was common to find a career right out of high school or college and stick with it for 30+ years. For millennials, sticking with one job is not necessarily a measurement of success. Millennials are starting their own businesses, working remotely, and not sticking to your typical 9 to 5 workday. For this reason, a home office space is a game-changer for millennial buyers. A home office creates a comfortable and private workspace for millennials to meet with clients, take a conference call, or work on their laptops. 

Smart Home Technology

Most millennials don’t remember a time before the internet and cell phones. They are used to having technology and information at their fingertips, which is why they look for smart home technology in the properties that they buy. Millennials are looking for things like smart thermostats, hi-tech security alarms, and state-of-the-art appliances. They want things easy, convenient, and user-friendly. If an app on their smartphone can control a home appliance or system, millennial homebuyers are all about it 

Eco-friendly Appliances

Millennials are also a more eco-conscious generation than their parents and grandparents were. Many make conscious daily decisions to reduce waste and save energy. Energy-efficient appliances and systems throughout the home are not only better for the planet, but can also reduce energy bills. 73% of millennials report being willing to spend more on sustainable and eco-friendly products. This could look like buying the more expensive but eco-friendly household cleaning products or buying from companies who have a focus on environmental sustainability. It also transfers over into their home-buying decisions.  Upgrades such as Energy Star appliances and the use of eco-friendly materials can sway the buying decisions for millennial buyers.

Social Spaces

One of the most common characteristics placed on millennials is that they value experiences over material things. Because there is so much emphasis on social interaction and personal connection for this generation, gathering spaces and game rooms are a plus for millennial buyers. Giving them a space to have friends over, host game nights and dinner parties, or simply get together for some wine and a Netflix marathon, millennials see open and spacious gathering areas and see an opportunity for social interaction and entertainment. 

Open, Modern Kitchens

Continuing with the idea that millennials value social interaction and get-togethers with their friends, updated kitchens with open concept floor plans are another way to attract this generation of buyers. If you are going to do major renovations on any part of your home, it should be the kitchen. Millennial home buyers are looking for an open, clean, modern space to cook meals and entertain guests. Some of the features many millennials are looking for in their kitchens include:

  • Center kitchen island
  • Spacious pantry
  • Energy-saving appliances
  • Functional storage
  • Multi-purpose countertop surfaces 

USBs and Outlets

It may seem like a small thing, but USB ports and outlets are essential for the tech-savvy millennial. The average millennial owns 2-3 high tech devices, and they need these devices powered up and charged at any given moment. This means easy access to outlets and USB ports is crucial in their day-to-day routine. Millennials need to have easy access to charging stations in main rooms like the kitchen, living room, and bedrooms.

Low-Cost Maintenance

Many millennial home buyers are not interested in buying a fixer-upper as their first home. They are looking for modern, efficient, and low-maintenance homes that are basically move-in ready. They typically don’t want to spend their weekends performing house repairs, and instead want to be out with friends, traveling, or experiencing new things. Millennials want their home to work around their lifestyle, not the other way around. Granite and quartz countertops are easy to clean and do not show blemishes, and wood or laminate floors are easier to clean than carpet. It is these types of hassle-free upgrades that make owning a home more appealing to millennials. 

Storage Space

While millennials aren’t known as being a very materialistic generation, they do appreciate a place to store their items to keep their living spaces uncluttered. Garages, wardrobes, built-in shelving units, and other storage spaces help millennial homeowners display their important items and store their other things to reduce clutter. This focus on saving space and reducing clutter is what makes extra storage space such an attractive upgrade for millennial homebuyers. 

Specialty Rooms

Millennials are looking for homes that reflect their lifestyle. If they have kids, they want a space to keep their kids’ toys organized. If they like to entertain, they want an area that is conducive to entertaining large groups, like a media room. If they like to work out, a space that can be converted into a home gym would be a plus. As you stage your home to sell, showcase the potential of each room of the home. Help potential buyers see how they can convert an extra bedroom or living space into a specialty room that suits their lifestyle.

Location

Before millennial home buyers even visit a potential new home, they’ll be thinking about how close the property is from the places they frequent the most. The walkability of a location is a major factor for millennial homebuyers. Being close to public transportation and having quick, safe, and easy access to some of their favorite restaurants, pubs, and retail stores play a significant role in their home buying decision. Millennials without kids may want to live closer to the city, while millennials who have started a family may be looking for a quieter, safer, and more suburban living. If your home is close to local conveniences and everyday amenities, be sure to showcase this to interested buyers. 

Millennials are adventurous, confident, open-minded multitaskers that are changing the property market. They may be buying homes later in life than the generation before them, but they are buying homes. Incorporating some of these upgrades into your home can help attract this large pool of motivated buyers and result in a quick and profitable sale.

Watch Interesting Videos on YouTube channel Nicholas Statman.

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