Selling Your House to a Millennial - What Do Young Home Buyers Want?

In today’s real estate market, a huge percentage of buyers are millennials. Millennials being that group of young adults born between 1981-1996. Millenials have their own struggles trying to buy into the housing market. The mortgage qualifications in 2016, 2017 & 2018 have forced a large 18% of Canadian home buyers to either leave the market or buy in a lesser price range. It's said that approximately 45% of home buyers today are between the ages of 18-35.


How can we appeal to these young home buyers and selling your house to a Millennial?

 

1. Ensure that your home looks good online

87% of buyers are looking at homes to buy online before ever stepping foot inside a property, you can bet most of those buyers are millenials.

  • Professional photos are a must. An easy and enjoyable to read property description is also great.
  • Young home buyers can spend years looking at regina homes for sale online before they have the opportunity to buy a home themselves, so they'll be accustomed to looking at homes that show well online.

2. Is your home low maintenance?

Millennials, for the most part, are all about the “instant gratification.” They don’t have time to spend 2 hours working on the yard every day.  They aren’t planting flowers and hedging the rose bushes like their grandparents did many years ago. Most millenials have a more than one job and at least a few hobbies. Consider replacing the gutters or eaves, upgrading the furnance and electrical panel. There are all improvements to the home anyway and they dont need to be done all at once. Make these improvements over time. 

Dishwashers can actually be deal breakers for some young home buyers!

3. Is The Bathroom Or Kitchen Upgraded?

Kitchens and bathrooms are the most expensive to renovate. So a young home buyer may come in and be okay with renovating the floors, maybe redoing some drywalling or redoing a popcorn style ceiling but ultimately they’re wondering if they can afford to renovate the 70’s style kitchen and a bright lime green bathtub. It may not be a deal breaker as most first time home buyers realize that they will have to put in some sweat equity, but it only improves the likely hood your home will sell faster.

 

How do you sell your house to a Millennial?

So my advice to you, if you’re considering selling your house and you know a majority of the buyers are going to be young home buyers such as millennials; is to be flexible when selling.

Maybe do some weeding so the yard doesn’t look like more work than it actually is, spend a little money and replace some of the flooring in the house. Invest in a real estate agent that hires professionals to take photos.

A couple thousand dollars spent in your home can turn into tens of thousands of dollars in the grand total of your home sale.

 

Contact Me!

For more information on how you can better market your home to younger home buyers, give me a call at (306) 552 7047 or use my online contact form below. I'm always happy to help!

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