Attracting The Millennial Home Buyer
Jan 10,2021 — By
For many years, the real estate industry grew accustomed to shaping everything towards Gen Xers and Baby Boomers. Now, we’re in a period of transition as more and more Millennials buy their first homes. According to one study, 42% of all new home loans now go to the Millennial group. Therefore, it makes sense for all sellers to keep this audience in mind when preparing their home for showings.
You will find lots of lists online regarding things to include in your home to attract Millennials, but not many will mention the features that will deter them. Luckily, we have everything you need in this short guide. Without further ado, let’s take a look at three of the biggest bugbears!
Closed Floor Plans
First and foremost, most Millennials will dislike the idea of having a closed floor plan. If you have the budget and the time, we highly recommend considering knocking out some walls. These days, it’s all about open spaces. We aren’t going to sit here and assume that everybody has the money to make structural changes, so a back-up option is to improve the flow between one room and the next.
- Can you remove clutter to keep the space free?
- Can you remove a door?
- Can you use an open archway instead of closed doors between rooms?
Wooden Kitchen Cabinets
According to many experts, the time for wooden cabinetry in the kitchen is now over. For Millennials, seeing old-fashioned wooden cabinetry can quickly cause them to dislike a property. While oak cabinets were popular for quite some time, Millennials prefer flat doors, clean lines, and newer cabinets.
Again, we know that not everybody will have the time or the money to tear out cabinets and replace them with something new. If this is the case for you, we recommend sanding and painting over what’s in the kitchen already.
Formal Dining Rooms
The third unattractive room for Millennials are formal dining rooms. Unfortunately, dining rooms are generational and the newest customers on the housing market like open, flexible spaces. Rather than having a room that only works as a dining area, younger buyers prefer open spaces that can quickly transition from TV room to kitchen. Where Millennials are designing their own homes, they’re actually choosing breakfast nooks and bar stools rather than dedicating a whole room.
For those without the budget for a layout change, you can be clever with the staging when you get Millennials coming to look at the property. Show them how the space can be used in a modern way rather than the old-fashioned, dining room way. Perhaps you could bring a computer into the room or a TV to show it as an entertainment room or office?
When showing a home to Millennials, keep these ideas in mind. Even if you can only afford the smaller fixes, it might just make the property more attractive and therefore make selling easier!