October 18, 2016 1:00 am
Millennials—the generation born between 1980 and 1995 that now comprise the largest home-buying group—want made-up, modern, and move-in ready.
Real estate professionals are seeing it firsthand: most millennials don’t want their parents’ house, but older homes tend to look just like mom and dad’s—a harsh truth for homeowners needing to appeal to these types of buyers when they list their home for sale.
According to the National Association of REALTORS® (NAR), millennials accounted for 35 percent of all home sales last year. Sellers unreceptive to staging could miss that opportunity entirely. Comparable homes staged for millennials, too, tend to fetch more than ones that aren’t—that means even if an older buyer places an offer, that offer will likely be on par with market value or higher.
The fact is, millennials don’t have the desire, money or time to fix up a home themselves. These days, bold colors, clean-lined furniture and light walls are not enough to pique their interest—one blogger called the aesthetic they’re after the “this-could-be-a-movie-set” look. Millennials want to project a lifestyle in the places they call home. Sellers should aim to meet them on those terms.
Stagers generally recommend starting by removing outdated décor—this can make a positive difference in the impression millennial buyers receive. Contemporary light fixtures, hardwood flooring and updated window treatments can dramatically change the appearance of the home, as well. Few, strategic fixes like these can sell a home for top dollar, and that much sooner.
Every house, however, is unique. A real estate professional well-versed in staging is worth consulting—most will walk the home and offer suggestions as to the improvements needed to make the home attractive to not only millennials, but all types of buyers. Contact one today!
Published with permission from RISMedia.