It seems we can’t read the news today without seeing some kind of coverage on millennials. In the real estate market, some reports say that few millennials are buying homes these days. But millennials are the largest group to emerge since the baby boomers and many of them are now married with young children. So there’s definitely a segment of this group who are buying, and the trend is likely to increase as more of them marry and grow their families in the next few years.
As millennials become a growing segment of the buyer population, their needs and wants in a home alter the selling landscape a bit. If you’re thinking about selling now or in the next few years, you may benefit from getting to know what appeals to this important buyer market. While you can’t transform your home into something it’s not, you can make mindful choices about home improvements, décor, and the presentation of each room. Take a look at seven top characteristics that catch the hearts of millennials when shopping for a new home.
1. Flawless staging. This generation grew up with channels like HGTV which heavily influence the desire for beauty in the home. Today they reference online resources such as Pinterest, Instagram, Houzz, Etsy, and other retailers weekly if not daily. Their expectations naturally move the bar upwards in terms of how homes should look when one opens the front door. Certainly all generations can be swayed by a well-staged and decorated home to gain their interest in buying, but millennials will be less forgiving about appearance flaws.
2. Polished, trendy décor and accents. Two different design trends that resonate well with millennials are modern, sleek lines and rustic looks with natural stone and wood. The weathered look in furniture and metal is also in vogue, perhaps popularized by retailers like Restoration Hardware. It’s not unusual to find newer homes with a sliding barn door encased in a shiny steel frame as a main bedroom or closet door. And instead of viewing beige as the safe paint color, this generation veers toward greys with bolder accent colors.
3. Fewer design embellishments. Fancy crown moldings or construction materials that raise the price of a home are not elements that millennials seek. Decorative finishes that once signified a higher level of craftsmanship are not appealing to this generation unless they have a valuable function. Attractive and functional need to go hand in hand.
4. Multifunctional and open space. Fewer partitions and walls are more desirable for this group. They don’t have a need for formal dining room space. They’re more likely to need room for exercise equipment, a playroom, or a study. The increase of people working from home means there needs to be a separate space to be comfortable and focused.
5. Low maintenance. Millennials spend long hours at work and have young families to care for. That means they don’t want to spend their whole weekend maintaining a home and yard. They want easy-to-clean materials in bathrooms and floors. And while outside space for the family is important, they don’t need a huge yard to enjoy the outdoors. Easy, low maintenance shrubs and trees are a plus.
6. Technologically efficient. High on their list is the use of their electronic devices—phones, tablets, audio systems, programmable lighting and door locks. Homes that have considered convenient placement of outlets (and plenty of them) and room for charging stations are a step ahead. This generation is accustomed to automation and control from the touch of a button.
7. Turnkey, move-in ready. It’s easy to say most buyers want a turnkey home, that is, they want to move right in without having to change anything. This is even more so the case with millennials since they tend to think in shorter time frames. If they only plan to stay in a home for several years, they don’t want to have to invest a lot of time and money making it the way they want it.
If you think your neighborhood or style of home is a prime millennial target, consider what parts of your house could be easily adapted to appeal to their needs. If you plan to stick around for a few years, maybe there are some changes you’d make that would improve your life as well as appeal to the millennial. Like cut down those overgrown bushes that you hate trimming every year. Or transform the dining room you rarely use into a study. Or freshen up the energy of your home with more current paint colors. It’s a double win if you’re improving for the future sale of your home and enjoying the changes for a few years as well.