There has been an increasing trend of millennials searching for their next forever homes, mainly through online property browsing. You may be able to sell your houses at a much quicker rate and for a higher price if you are able to attract, and appeal to the millennial generation. According to a 2019 report by Nar Realtor, 52 percent of first time home buyers belong to the older millennial generation and 86 percent are younger millennials. Overall, the millennials represent 37 percent of all home buyers, which is more than any other generation. Millennials are forming a larger part of the homeowner community here in the United States. Here are some areas and features that the millennial home buyers are looking out for:
Great Online Home Photos
In this day and age, almost everything is done online, and that includes property viewing. Comparing to any other generations, millennials have a higher tendency to browse through houses online. According to research, nine out of ten millennials will use the internet to do research relating to property and at least three resources will be utilized before making their decision. The first thing that shows up in property listings is pictures. High quality, professional and beautiful pictures stand a better chance at winning the millennials over when browsing through property listings.
Eco-friendly Features and Smart Devices
Generally, millennials are attracted to eco-friendly features and smart devices, so be sure to mention them in your property listings! When talking about your homes, make sure to highlight the energy-efficient appliances, smart devices, or solar panels if there are any. This way, your house stands a good chance of winning the millennials over and closing the deal!
Easy Buying Process
The millennial generation is not a big fan of complicated processes and applications, so remember to go the extra mile and simplify the entire buying process. The easy buying process would be a plus point for the millennials! You can make use of online tools such as Haus or other transaction services to ensure a quick and easy offer-making process.
Confidence that the Loan Will be Approved
Most millennials home buyers will need some form of financing because they may not have a ton of money for a large down payment. They are also not likely to have extra cash on hand to cover an appraisal that lowers their loan amount. If you are able to give millennial buyers the confidence that their loan will get approved, they are more likely to close the deal with you.
Complementing to Their Lifestyle
Most millennials would prefer to live close to their work offices and homes. As a home seller, if you help your millennial buyers calculate their annual living expenses such as commuting, utilities and energy costs, the millennial will be more confidence about the purchase. In addition, a more confident buyer is more likely to close the deal successfully.
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