Must-Haves for Younger Buyers: Tips for Sellers

Must-Haves for Younger Buyers Tips for SellersAs Millennials grow up, they are becoming an increasingly important part of the housing market. When it comes time to sell your home, this is generally the group that you will be selling to. While you want to be sure to have the best Champaign Homeowners Insurance to protect yourself and your home, you also want to be aware of the key features that young buyers are looking for.

Millennials refers to those born between 1980 and 2000, and they generally fall into two categories when they are looking to buy a house. Either they are working professionals that want low maintenance homes, or they are the creative types that want to be able to fix a home up and express themselves. While these two groups seem to be at opposite ends of the spectrum, they share something in common by having a similar list of ‘must-have’ features.

  • Kitchen and Bath- The main reason that young buyers want to have updated kitchen and bathroom fixtures is that these areas tend to be the most expensive area to remodel and most of your buyers are on a strict budget. Having these areas updated when they buy means they won’t have to put the money into updating it themselves.
  • Kitchen and Floor Plan- Previous generations put stock into having formal dining rooms. The younger generation has steered away from that and prefers a more open kitchen that blends into the family room due to the way that younger generations like to entertain. They want gatherings to flow throughout the home rather than be compartmentalized into rooms.
  • Home Office- It is estimated that over 13 million people work from home. This number is not expected to diminish any time soon making home offices very important to the younger generations.
  • Low Maintenance- Most young buyers grew up helping their parents with chores on the weekends. Now that they are working adults, they do not want to spend their entire weekend cleaning or repairing their homes. Some of the more creative buyers will be fine with simple fixer-upper homes, but generally something low maintenance is preferred to allow them to spend more time with family and friends.
  • Energy Efficiency- As energy costs increase, most home buyers are looking for energy efficient and green energy options within the homes they choose. While having an updated, energy efficient home is something they look for, many home buyers will factor the costs of having to update the efficiency themselves into their initial budget.
  • HOA- Be aware that while the home itself may be within a young buyers’ budget, the added HOA fees may end up being a deal breaker. The HOA may be a deterrent, however a home that’s eligible for FHA financing may be appealing.

At Myers Insurance Group we understand how difficult it can be to find a buyer for your home. Call us today at 855.534.5707 to find out more information on our Champaign Homeowners Insurance Policies.

This entry was posted in blog, Homeowners Insurance and tagged , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Trackbacks are closed, but you can post a comment.