The latest numbers are in, and if you’re planning to sell your house or apartment to one of the upwardly mobile millennial buyers they ensure that now is the time to beef up your property. Millennials in the News, a recent article in RealEstateBusiness.com, confirms with hard data what we’ve known for some time – millennials are ready to sink their money into real estate. That is IF you’ve used all the advantage styling at your disposal to tempt them.
In the next five years, according to the article, millennials will outspend their baby boomer parents on real estate investments. A full 66.1 percent of this very large group is likely to invest in apartments that bring them close to the elements of their lifestyle – work, entertainment, and all the upscale amenities they can afford.
These folks are geared to instant gratification. They want to have everything they desire at arm’s reach. They won’t be excited about long commutes to work or a house with lawn-maintenance chores. They want, as we’ve often mentioned, a move-in-ready place that satisfies their need for ready access to the rewards they now claim as rightfully theirs.
If they sound impatient, it’s possible that waiting isn’t something they do well. These people grew up with internet access – the world at their fingertips – so it follows that they seek it in real life. About half of this group, 48 percent, opts for avoiding the inconvenience and expense of repairs. They are inclined to buy new construction and find comfort in knowing that nothing will break down in the period of six years they will claim the home. (By, comparison, boomers usually stay in a property for 10 years or more.)
These folks see homes as simply rungs on the ladder to success. They will continue to upgrade as their income permits and their lifestyle dictates. They don’t seem to mind paying for the privilege of climbing, either. This is an especially good bit of news for those who are preparing to sell their property.
Not surprisingly, the millennials want top-notch access to the rest of the world. In terms of connectivity, they want the very best. Like many of the rest of us, their entertainment and their work is centered on fast internet access. These individuals are wired to the hilt, so anything that slows them down is unacceptable.
Their perception of homes has also been bent toward the concept of total staging which is, as we all know, how homes for sale appear on television programs such as The Block. They expect the online property listings to have the advantage styling provides for them. When they see the images of a house or apartment online, they expect it to be completely staged so that they don’t have to waste time figuring out where the television ought to be.
In case you hadn’t already guessed, these dynamic buyers are also in favour of a workspace in their homes. Typically, this group is more likely to work from home, so providing such a well-defined space can become a deal maker. If you don’t have a whole room to dedicate to office space, talk to your home stylist and work to creatively include workspace elsewhere in the home.
If you can provide new or like-new construction within a short commute to metro areas, you have a likely candidate for sale to the millennial buying group. Your biggest job then will be to have it fully staged by a savvy home stager who understands this buying niche. (Really good property styling firms invest time and money in learning all about millennial buyers. These professionals can predict what a millennial wants, right down to the colour of the towels in the bathroom.)
If you are preparing to sell your home or apartment and think it to be a natural choice for a millennial buyer, call Urban Chic Property Styling today. We have researched this buying group so thoroughly that we know precisely how to attract them to our clients’ properties. The many things advantage styling can add to your property will work in your favour to get top-dollar for your house or apartment.
Let our experience and our impeccable style help you to a sale that’s more lucrative than you could have imagined.