While millennials have been slower than past generations to enter the real estate market, they seem to be eager to jump in when they feel they have the buying power to do so. Millennial homebuyers jumped 5% in buying power just this past year.
This generational group is looking for and wanting different characteristics of the home than past generations. It’s important to know how to reach millennials in your business plan.
Showcase the Best Features
Millennials are looking for open floor plans where the kitchen, living room, and dining room can flow together. They’re also looking for hardwood floors – remind them that hardwood is easy to install if their dream home includes carpet. These younger buyers are also keen for proximity; a corner store or easy access to public transportation will really grab at their heart strings.
Focus on the Surroundings
The neighborhood and surrounding area of the home is just as – if not more – important than the home itself. Millennial buyers want to be close to shopping centers, schools, highways, and their work – just to name a few. It’s important to keep in mind the layout of the area to be able to list off all of the other benefits they’re getting if they pick that specific home.
Does the neighborhood have recycling drop offs? These younger buyers are environmentally-conscious, so anything “green-friendly” is a home run feature.
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