If you’ve lived in your home or condo for some time, you notice when neighbors around you are changing to a younger demographic. Thinking this might be a good time to sell, you wonder what was so appealing about the house down the street or the condo down the hall that attracted the young couple that just moved in.
The first thing you need to understand is that trying to put Gen Y’s—or so called “Millennials”—into a box may only lead to frustration when trying to sell your home or condo. According to Forbes, the millennial generation, those born between 1980 and 2000, accounts for 4 in 10 of the US population. So before you run to the local DIY or call a contractor, talk to us first. We can help you determine the most important changes, upgrades or improvements to put your home or condo on the Gen Y radar. Using recent, local sales comparables, we can show you how your home or condo stacks up, and recommend any appropriate updates or fixes.
Functional Spaces
The most important prized priority in a home is functionality. Informality rules the day and a flexible layout strikes a positive chord with millennials that want room for a home theater, game space, and home office rather than a formal living or dining room. So, even if you have formal spaces in your home, staging them so that a Gen Y buyer can see dual or multi-purpose can add appeal. They may not otherwise visualize an office in the corner of the dining room opposite a game table if your formal dining suite completely fills the space. Add shelving and a small desk area to a corner of the living or dining room, or even in a kitchen nook.
Entertainment Space
The second item a younger buyer looks for is entertainment space. For some, a patio with a hot tub and barbeque pit fills the bill, while others prize an open kitchen with room for guests to socialize over food preparation. Stage your kitchen with a mobile island and stools, if they’ll fit.
Bright Hues
Generation Y tends to lean toward brighter colors and signature pieces of art. If your home already has color, just refresh it with a new coat of paint. Conversely, if your home is mostly white, consider changing up the color to a warmer hue like these, or adding bright pops of color with pillows, strategically placed flowers, a bowl of apples or pomegranates.
Retro-Style
Many millennials are drawn to older styles in homes, decor and even vehicles. Many have adopted decor from the 60s and 70s in to their homes, and some even draw inspiration from the 50s. If your home is older and has original craftsmanship, detailing, or fixtures, don’t be afraid to highlight those when describing your home’s features. In fact, if you have covered over some of those architectural details, now might be the time to revisit that decision and bring them back out in the open.
Low Maintenance Exteriors
When thinking about changes to the exterior of your home, consider reducing the amount of upkeep required. This generation is all about the experience of life, so while they may want to put in their own vegetable garden, they usually don’t want to have to worry about annually repainting the house. If you are thinking of replacing siding, for instance, consider fiber cement siding that mimics wood, brick or stone, but is impervious to termites and fire, doesn’t require painting, and won’t rot. Before making a change, though, talk to us about the best return on your investment, not just its appeal to one group of buyers.
If you’d like to learn more about Long Beach real estate or are thinking about buying or selling a home or condo, please contact me.
