Young homeowners have different needs and wants than their parents, according to a recent survey. This new generation doesn’t want a standard home, and they are willing and able to take on DIY projects to transform their home into something unique and personal to their own needs and wants.
So if you’re about to list your home for sale, how do you know if younger buyers will want it?
According to real estate experts, the latest trend with young homeowners is that they want a home that has character and is unique, even if that means it’s a fixer upper. The days of the so-called “McMansions” and cookie-cutter homes are gone in this generation’s eyes. Realtors around the country have found that young homeowners aren’t afraid of buying a home that needs some TLC – and many of them would actually prefer to fix up their homes themselves!
These results may be somewhat surprising, since many people consider the younger generation coddled and maybe even lazy, but the latest buying trends suggest that when it comes to buying a home, young homeowners are ready to dive right in and tackle the big projects on their own. It may stem from a generation where DIY videos are available online at the click of a mouse. Whatever the reason, though, this generation is less likely to call on a professional for home repairs!
Size is also not that important for young buyers when they are looking to purchase a home. Having the biggest house on the block is not important to them, and instead, many prefer a more practical approach for their home. This demographic is more interested in a home that is functional, with every room having a specific purpose. For example, young homeowners are less likely than their older counterparts to want both a breakfast nook and a formal dining room. For them, it’s more important to have a home that doesn’t waste a ton of space.
The biggest thing that sets younger buyers apart from their older counterparts is the importance of technology in the home. High-efficiency appliances have been topping the wish list when young buyers are house hunting. At the very least, they want a home that’s got up-to-date appliances and, ideally, a security system. They’re also on the lookout for homes that are energy efficient from top to bottom. Young homeowners don’t want to drive up their utility bills or negatively impact the environment!
Although this group of buyers doesn’t mind putting a little elbow grease into their homes, they’re looking for homes that are already wired for the latest technology. For example, many young homeowners are interested in having space for a home office that’s all ready for wifi. For this group of people, a home theater is more important than a “traditional” living room. In fact, the more technologically-advanced the home is, the better it looks to this demographic!
Bottom line – the needs and wants of young home buyers are awfully different than the needs and wants of older generations. So, depending on what your home has to offer, you may be able to predict how old the buyer will be!
This article is brought to you exclusively by RealtyPin.com