Selling a Home To Millennials

There’s been a trend in the past decade where Baby Boomers with gigantic, luxury homes in the suburbs downsize for a significantly smaller home closer to the city. On the other side, a new trend shows millennials leaving their small city-life-living. They’re giving the suburbs a try, and finding that more space and some land of their own is pretty awesome, especially if they are thinking about starting a family in the near future. 

The millennials were born in a peculiar time. Think about it, from the mid 80’s to the late 90’s, American children were growing up in an environment that was dramatically changing culturally and socially. Their preferences are often and sometimes vastly different from their Baby Boomer parents. So here are a few tips to remember when you go to sell your home to a millennial. 

They are busy

(Most) Millennials are not scared of work and they choose to work a lot. What free time they do have they enjoy spending it with family and friends. They also happen be a bit more transient than their parents, so moving often isn’t a big deal. Another trait about them is they’re a little impatient. They would much rather prefer a home that is live-in ready than one that needs a little renovation or remodeling. 

Sadly, most millennials don’t want to take the time to make a house their home. Baby Boomers on the other hand, were all about this when they bought any house. 

House hunting is similar to dating

IF you know a millennial you know they are literally attached to their phones. They can order dinner, reserve a seat at the movies, and even find a person to take out all with their thumbs. 

With smart phones able to do nearly anything, they can home shop too. So as a seller, it’s important to take the time and spend the money on good photos for your online presence. Just like online dating, if you don’t pass the initial first look test, you’ll never get the date. 

Bigger isn’t better anymore

Twenty years ago big huge homes with unnecessarily large bedrooms and amenities were a sign of pure success; and most people wanted to emulate that. This isn’t so much the case anymore. Millennials prefer smaller homes with less land. They don’t necessarily want to spend all that effort and work on their very first home. They may need to learn as they go. 

We both know you cannot shrink your home, but what you can do is make sure your price matches the market. 

Location is more important than ever

The burbs are attractive to millennials; homes that are close to train stations, villages, markets, or shopping outlets have proven to be some of the most popular places. 

Just like you cannot shrink your home, you cannot move the location of your home. So all you can do is adjust the price to reflect the market. 

If you plan on selling your Baby Boomer house and a millennial could be your client, try to shape your mindset like theirs. You cannot assume they will like the same furnishes and styles as you do, so keep it neutral and get ahead of the game.

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