10 Home Improvements that Attract Millennial Buyers

Studies show that by early 2019, millennials accounted for 42% of all new house loans. Moreover, as the millennial generation struggles to buy their first house throughout the world, this cohort of homebuyers may be even more picky about what they want than previous generations. Millennials don't just know what sort of house they want; they also examine the investment worth of a certain property, as well as the possibility for a high profit if they decide to sell later on.

The emergence of millennial buyers is a remarkable opportunity for property owners to impress a new set of property investors. However, appealing to a younger group of buyers with extremely specific specifications necessitates a distinct marketing strategy for house sellers. If you want to sell your house to this lucrative new market, here are 10 modifications that are likely to appeal to millennial purchasers.

1. A dedicated home office space

Working remotely is becoming increasingly popular, both in the realm of freelancing and in more corporate settings. The study is no longer a place where Dad goes to get some peace and quiet - the home office is increasingly becoming a location where people work to make a living.

This trend is most noticeable among the millennial generation. Incorporating a home office area into your home, even if you aren't currently utilizing it, is nearly likely to wow millennial buyers. Consider arranging one of the rooms in the house as a home office while the property is on the market.

To millennials, this space, which divides the rest of their house from the place where they work, to earn a living and, as such, should not be overlooked. In fact, when potential buyers arrive to view the house, your real estate agent will most likely utilize the home office as one of the major negotiating points.

2. Smart technology

Smart houses are no longer a science fiction fantasy. Almost every residence is now linked to the Internet of Things in some form, from smart thermostats to smart doorbells and lights. First and foremost, potential purchasers will want to ensure that they can connect to the internet, but you can bet that other sorts of home automation systems will please this generation as well.

Smart (short for Self-Monitoring Analysis and Reporting Technology) home systems, such as security and monitoring systems, door locks, and home energy monitoring systems, make life a bit easier for a group of people who are virtually constantly connected – yet these advancements don't always come cheap.

3. Energy-saving appliances

When it comes to selling a property in the twenty-first century, it goes without saying that energy efficiency is a global hot topic. As a result, millennial shoppers may be more likely to choose energy-efficient equipment than the old fridge or stove that drains electricity quicker than you can say "climate change."

The millennial generation is extremely conscious of their energy use and increasingly prefers the eco-friendly alternative over its power-hungry forefathers. Switching to energy-efficient appliances may not be the cheapest choice, but it is quite likely to pique the attention of a younger buyer.

4. Entertainment room/social area

Say farewell to the Man Cave and hello to the gaming/entertainment room. Young families often seek an area in the home where everyone can congregate and let off steam, and a gaming room or a similar social space will undoubtedly meet this desire.

When arranging the property, make one space appear to be the ideal spot to unwind with friends or the rest of the family. Creating a warm and welcoming atmosphere with comfy sofas and decking out the area with all of the home entertainment items you presently own is as simple as that. You might even try just rearranging your existing living area.

5. USB outlets

As smartphones have become a crucial part of our everyday lives, we have begun to design our houses in such a manner that they may be used as efficiently as possible.

Power outlets may now be purchased with a place for connecting USB outlets. These outlets are bound to leave a mark with millennial buyers, especially in areas where phones are frequently used, such as the kitchen (for easy access to that great recipe they've been wanting to try out), the living room, and the bedrooms – and replacing your existing outlets with outlets that also allow a USB charging connection won't break the bank.

6. Colors that are neutral

Millennials did not grow up in the 1970s and will scoff at color schemes that scream instead of whisper. As a result, while repainting the property before prospective buyers come to see it, sellers should consider using neutral colors.

Sellers should use gentle neutrals like cream and whitewashed gray variants in this vein. In reality, a neutral palette resonates to the majority of purchasers, regardless of generation, and immediately gives the house a squeaky-clean impression.

7. Contemporary style

If you decide to replace structural fixtures in rooms such as the bathroom or kitchen, contemporary fittings are more likely to appeal to millennial buyers. Outdated color schemes and appliances have given way to smooth surfaces and new amenities, which will be popular with a younger generation of purchasers.

The importance of a minimalist approach with sleek and basic lines cannot be overstated. You want potential buyers to visualize themselves in the room, as with any house staging, and a modern design approach will communicate to the generation that it symbolizes.

8. Outside living space

Families place a high importance on their home's outdoor space. This is where the front yard is illuminated for long evenings spent with friends, and you don't want this important section of your home to be overlooked. When considering home upgrades with your real estate agent, they may advise you to use a décor and architectural approach that makes the exterior of the house feel like an extension of the home – and they will be correct.

Millennial buyers want to invest in a location that will become their home, the home of their family and pets, and a gathering spot for friends. Even if the rest of the home has been completely remodeled, a run-down backyard that does not appear welcoming is enough to turn off young buyers right away.

9. Garage power outlets

Many garages have scant and awkwardly located power outlets, which will turn off millennial home buyers who use electric vehicles. If you want to impress this tech-savvy, environmentally conscious set of buyers, have an electrician install power outlets that can particularly be utilized for charging autos. It's a little enhancement, but youthful consumers will enjoy it when it's brought to their attention.

10. Storage area

Storage space is vital to all consumers, not just millennials. In fact, most purchasers will be turned off by a lack of built-in storage, expecting that they would have to spend money on additional storage space or furnishings. As a result, think about adding closets to areas that don't already have one, as well as multipurpose pieces of furniture that may serve as extra storage space.

Conclusion

The property market is always changing, and when a new generation enters it, it must adapt to the changes. Renovating and enhancing your house to appeal to millennial buyers requires a fresh strategy and understanding what would appeal to purchasers. Learn more about working with buyers.

Technology reigns supreme among millennials, and clever, energy-efficient solutions are guaranteed to make an impact. This group, which is increasingly beginning to work from home, will want a location that promotes efficiency and productivity while also providing a place for their family and friends to unwind. A neutral color scheme, modern design and appliances, and a pleasant outdoor environment that effortlessly integrates with what's going on inside are all ideal places to start.