4 Ways to Attract Millennial Home Buyers as a Seller

4 Ways to Attract Millennial Home Buyers as a Seller

Attracting millennial home buyers is essential for sellers in the current competitive real estate market. Millennials are now the largest demographic of those purchasing a home, representing 43% of all home buyers in the U.S. and a similar makeup in Canada.

Here are a few things you can do to make your home more appealing to this group of buyers.

Understand Their Unique Needs & Preferences

Recent research shows that the most desirable features in a new home for millennials include spacious backyards or outdoor space (15%), larger living spaces (13%) and a garage or driveway (13%). Proximity to amenities, access to public transit, and walkability were also important. 

Eco-consciousness and sustainability are also pervasive concerns. Highlighting smart home technologies, solar panels, electric-vehicle chargers, Energy Star-rated windows and insulation, and energy-efficient appliances can also enhance your home’s marketability.

Additional Upgrades That Appeal to Millennial Home Buyers

To capture millennial home buyers’ attention, consider the following upgrades: 

  1. Stage your space to emphasize the open concept aspects. If the kitchen, dining area, and living area flow together naturally, showcase it. According to research by The National Association of Home Builders, 78% of millennials place a high value on this feature.
  2. Where possible, update outdated features such as carpet, wallpaper, old tile, fixtures or appliances to help alleviate concerns about future repairs or renovations. 
  3. Attend to minor issues beforehand. New home buyers generally but millennials in particular are more likely to reject a home due to issues like a broken appliance or a damaged lighting fixture.

Leverage Digital Tools

Millennials are digital natives and rely heavily on technology for their home search. You’ll want to consider:

  1. Ensuring your digital listing has visually appealing content, such as high-quality photos and videos. 
  2. Consider using virtual tours to provide potential buyers with a comprehensive view of your property.

Highlight Affordability & ROI

Many millennials are contending with financial challenges, such as student loan debt and high living expenses. Highlight features related to affordability such as energy-efficient appliances, low maintenance requirements, or proximity to public transportation to lower commuting costs. Showcase any potential for future growth and return on investment as well, such as upcoming construction or neighbourhood upgrades.

Ready to succeed in today's competitive real estate market and draw in millennial homebuyers? Contact our team and we would be happy to assist you!