Fortunately for Sydneyside sellers somebody is keeping a close eye on those thousands of millennials who are preparing to buy their first homes. That watchful professional is the real estate stylist. Because so much of what dictates a big sale to this huge group of buyers hinges on knowing what goes on in the millennial brain, having a stylist who knows them inside out is key. This group is full of surprises.
Those who came of age in the late 1990s and the turn of the millennium (hence the name) are surprisingly conservative and more than a little careful with their money. This penny-pinching bent flies in the face of their high-flying image as big spenders. So how do these younger buyers manage to buy homes in the Sydney area and still live ‘the good life’? They prioritise carefully.
In previous blogs we have discussed the millennial’s search for an energy-efficient, economical home. We already know that these shrewd buyers watch for signs of poor maintenance of structural systems – from electric and plumbing to roofing and windows – in order to stave off future surprise maintenance issues. They are willing to spend a little extra in order to be certain that they’re not investing in a money pit.
Even before they buy, they are already making serious sacrifices in order to afford that first house. They nix that big, expensive wedding and put off the family additions in order to keep their feet firmly on the rungs of the property ladder. These buyers take shorter, less extravagant holidays, eat out less often, and budget very carefully in order to afford that first house. Smart.
Preparing to sell to these savvy buyers, though, means that the seller cannot afford to offer less than the best. Make no mistake. These people want everything they bargained for and more. After all those sacrifices, they want a bit of reward.
Who can blame them?
When you know you cannot possibly have it all, having everything you can have comes to the top of the list. So, the enlightened property stylist finds ways to create the feeling of luxury in less expensive ways. If ever there was a segment of buyers who beg for creative design, it’s the millennials.
If they cannot live at the beach, they buy a house that lends a beachy feeling to their world. If they cannot borrow the funds for a grand space, they look for spaces that can be made to appear larger and more opulent than they really are. They seek the look of luxury and the appearance of limitless space even when they cannot buy either. Smart again.
Smart sellers, then, employ the best, most qualified home stylists they can find at the outset of their selling process. The real estate stylist these sellers want is the one with a long career and a winning record – the more experience and success under the belt, the better. Particularly in the Sydney market, where our years of booming prices have given stylists lots of practice making the best of even incredibly beautiful properties. Dressing the ‘first house’ for a millennial buyer is even trickier and requires specialised talent and discernment. The word magical comes immediately to mind.
Now, with what appears to be a down-trend in the real estate market, the plentiful property inventory in the Greater Sydney Area might bode badly for the average seller. There are so many options for the first-time buyers today that becoming exceptionally competitive is – or ought to be — at the top of the minds of sellers and their agents.
Fortunately, there is no shortage of creative thinking and outstanding presentation in the Sydney home styling world. As a matter of fact, new styling companies are sprouting up like weeds to meet the increasing need for home staging. Before you list your property for sale, though, think carefully about which styling company you’ll use. Ask your selling agent. Ask your co-workers. And then choose the company with the longest history of winning in the world of real estate sales.
When it comes to the real estate stylist who will produce a winning product, know that experience is everything. At Urban Chic Property Styling we’ve been dressing homes for decades. We know the area and we know the millennial buyer. Call us for a consult. You’ll be thrilled with the results.
Photo credit: Image courtesy of Simply Cushions.