It’s a question many people are asking: what do Millennial home buyers look for in a home? Gen Y buyer demographics are steadily rising: thirty-four percent of today’s home buyers are under 36 years old, up from 32% two years ago. Since it’s clear this segment will only grow, current and future home sellers need to know what Gen Y wants in a home.
According to Realtor.com, top motivating factors for Millennial home buyers are the aspiration to become home owners and the desire to up-size their living space. How can you make your home appealing to Gen Y buyers?
Seven Top Home Features for Millennial Home Buyers
1. Update your fixtures.
Some some Millennial home buyers want to purchase a turn-key home with no updates required and others prefer complete their own renovations, updated kitchen and bathroom fixtures are important to young buyers since much of their budget will be invested in furnishings and down payments.
2. Plan to stage your home.
According to BankRate, many Gen Y buyers comment on if and how a home for sale is staged. Stage your home and get that sale! Here 6 home-staging tips to get you started.
3. Green is the way to go.
Millennials are interested in cost-saving home features. Some extra insulation and double-paned windows will go a long way with today’s young buyers.
4. Keep it low-maintenance.
Convenience is king! Therefore, attractive yet easy-to-clean floors and countertops are all the rage among Millennial home buyers.
5. Skip the crown molding.
Millennials appreciate low-maintenance living, so it may not surprise you that they aren’t looking for home decor intricacies either! Skip the unnecessary details and focus on easily maintained and eco-friendly updates.
6. Large master bedroom.
With 64% of Gen Y buyers wanting a large master bedroom, be sure this part of the house is well-staged and free of clutter.
7. Goodbye, formal dining.
Formal dining rooms are a thing of the past. Today’s young buyers hang out in the kitchen and want an open space that flows between social cooking and watching TV in the family room.
What do you look for in a home? Join the conversation in the comments section below.