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6 Important Features for Millennial Home Buyers

Millennials make up one of the biggest generations in terms of population, beating the Baby Boomers. With the latest cutoff year being 1997, all of the millennial population is at least in young adulthood and joining the workforce in some capacity. According to Realtor.com®, from a survey they conducted about millennials working from home since the start of the COVID-19 pandemic, 49% of them feel like COVID-19 has pushed them to purchase a home sooner than they originally planned.

Millennials have many unique preferences that set them apart from other home buyers and generations. When you are selling your home, it’s important to keep in mind some of the most common millennial home must-haves.

1. Updated Kitchen and Bathrooms

Millennials tend to be more budget-conscious when buying their homes. Most of the money they’ve saved will go toward the down payment of the house and new furniture. The last thing they want to pay for are updates. When conducting their early home search, they look for an updated kitchen and bathrooms so they don’t have to work those renovations into their own budget.

2. Open Floor Concept

While having a large dining room used to be important, now it’s all about an open-floor concept. Buyers are looking for a floor plan where the kitchen, dining and living areas flow together and you’re able to see each other from every room. They want all those spaces to be utilized for gathering no matter the occasion.

3. Dedicated Home Office Space

Now more than ever, millennial buyers are looking for a place to dedicate to work. They want a space where they can have privacy to focus on their job, where they have access to more natural light and/or where they can set up a distraction-free Zoom background.

4. Home Technology

One of the latest trends that has taken center stage for a home buyer is home technology. You’ll find buyers asking questions about the available wireless service providers, carrier signal strength and the smart home features that may have already been installed.

5. Energy Efficiency

Another home trend that is gaining popularity with Millennials is energy efficiency. People prefer energy efficient appliances like washers, dryers, refrigerators, etc. Appliance energy efficiency addresses how well appliances use the energy they receive. These appliances help save future owners money on energy costs. Pro tip: Solar panels are also a great consideration (depending on where you live).

6. Online Photos

60% of millennial buyers are spending more time researching homes online than they had before. With social distancing still important to a lot of buyers, a majority of them will rely on online photos and virtual tours to make most of their judgements on the home. Making sure that you have professional pictures and videos that showcase your home to buyers is crucial during this time of tech.

If you need assistance preparing your home for the market and getting it listed, we have real estate agents who can help.. With access to resources like home photography and instant listing, you can attract more buyers — especially the millennials — and have a better chance of selling. Contact us today or search our database of local agents to find your match.

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