If you are in the baby boomer generation and ready to sell your home, then the following tips will be of interest to you. This article comes from the Washington Post but the observations apply to all areas.
Today’s millennial buyers have different expectations and desires for a home than their parents had. Yet with the shortage of home listings in the Washington area, baby boomer homes are what make up the majority of listings in a millennial’s price range.
The sellers of these homes are often newly retired and ready to downsize, so selling their home is going to be a significant part of their retirement nest egg. In order to command top price, it pays to present the home in a way that appeals to the needs of most millennials.
Millennials prefer their living spaces to be streamlined. A home’s entryway is one of the easiest places to make a good first impression. In new construction, developers are building shelves right next to electrical outlets for charging stations, but sellers can convey the same idea by setting up a dedicated command center near the door with a place for keys, mail, coats and bags. If there’s an outlet nearby, stage it with a plugged in tablet or phone so potential buyers can see immediately that there’s a place to keep their devices near the hub of the home.
Next, focus on the common areas. No other generation is known for placing such a high priority on socializing. Make sure the living room and kitchen look as inviting as possible. The kitchen can have a taller-than-usual table with bar chairs to give the impression of being a good place for a crowd to place their drinks during a cocktail party. If you have an open layout, arrange the seating areas so that it’s easy for buyers to imagine having a group over without too much crowding.
Millennials roughly span from ages 20-35, so a large percentage of the population has begun a family, or plans to in the near future. Thus, many of these buyers keep an eye out for places where young children can play safely - either indoors our out. If the home doesn't come with a yard, clearly display maps with the nearest playgrounds, parks and bike paths outlined so they can get a sense of how kid-friendly the community is.
Millennials make up the largest segment of our country’s ( U.S.) population and will be a driving force in both the real estate market and the economy as a whole. Appealing to their needs and wishes for a home doesn’t have to take too much effort and will payoff substantially when it comes time to put your home on the market.