Chances are, the next people to own your home will be millennials – people between the ages of 25 and 40. Despite a pandemic and skyrocketing home prices in 2021, millennials have clung to their title of the largest homebuying demographic in America.
The Virginia Beach housing market remains strong, but experts see signs of it cooling slightly in the months ahead. That means millennials can be a little choosier as they shop.
To sell your home quickly, you have to market to millennials by showcasing the features they want.
All the Gadgets
This generation is tech-savvy. Not surprisingly, millennials want fully-loaded homes. This includes standard appliances like washers, dryers, dishwashers, and garbage disposals, of course. But even more important is smart technology. Smart lighting, home security, and lawn irrigation systems are definite pluses. But even smaller, inexpensive amenities like smart thermostats can be selling points. Millennials also need lots of electrical outlets and charging stations for their entertainment centers and personal devices.
Everything in Tip-Top Shape
Many millennial families have delayed their first home purchases to save money for down payments. As a result, they don’t want a property that comes with the expense and hassle of repairs. A fresh coat of paint and updated hardware and light fixtures go a long way toward impressing them. Electrical, plumbing, and HVAC systems should be in good working order to avoid surprises from inspections.
Millennials want their living space to spill into the outdoors. Covered patios, gazebos, and pergolas are huge advantages. Plenty of outdoor lighting is also near the top of their wish list. Front porches are also popular with this generation, as well as lots of roaming space for kids and pets. More than half of Gen Y homeowners have at least one dog.
Like other demographics, millennials want a lovely landscape – without working hard to achieve it. A garden with low-maintenance native plants fits that bill while also appealing to the generation’s environmental awareness.
While you may not be willing to knock out walls, it might be helpful to know that millennials prefer spaces they can use for multiple purposes. Showcase rooms that work well as an exercise room, studio, or meditation area. Formal dining rooms have declined in popularity with younger generations. Stage this area as an office or play area for greater appeal.
- Laundry rooms
- Hard surface floors rather than carpet
- Large open kitchens
- Garage storage
- Two master bedroom suites
Marketing is Crucial
It’s important to remember that millennials don’t do their home shopping like earlier generations. Most will do their initial home browsing on the internet, and what they see will usually determine whether they take a closer look. That makes it vital to put your property’s best foot forward in pictures and video. A good real estate agent will help you do this with experienced photographers.
A growing number of home-sellers are turning to professional stagers to declutter and decorate their homes for maximum camera appeal.
Virginia Beach’s beaches, resort atmosphere, and climate are automatically appealing to the millennial generation, and the housing market is expected to stay vibrant in the future. Considering the wants and needs of the biggest homebuying demographic might lead to a quicker sale at a greater profit for your home.
By Gina Rebolo
Gina Rebolo is a former real estate agent who now stages homes for resale. She’s an avid do-it-yourselfer who likes to refurbish old lawn furniture and design outdoor spaces for entertaining.