A new report from ING, the Millennial Homeownership Report, is opening the eyes of Sydney area home sellers in a positive way. The study finds that the largest segment of home buyers, the millennials, is ready to make whatever sacrifices are necessary to buy into home ownership. They are walking away from apartments and into suburbia where three bedrooms and a backyard await those seeking to be part of the Australian home-ownership dream. In our increasingly competitive housing market, this translates to using every advantage styling can offer.
The Millennial Homeownership Report assures us that these millennial buyers may be willing to put off many of the traditional rites of passage like the big wedding or even parenthood, but they want as much bang as they can get for their buck. They are willing to move into less desirable locales if it means getting a house that meets their personal definition of home. Finding that in a market brimming over with properties can be difficult.
Luring a millennial couple to your neighbourhood could mean spending more in order to make more.
What’s clear is that the people who came of age at the turn of the millennium have been trained to take money seriously. They have what is a depression-era mindset. That means that economy is high on their list of must-haves in a home. That being said, they still want great schools, easy access to work and shopping, and some degree of elegance. It is with that last bit that the advantage styling comes into play.
When you employ a good home stylist, you can count on a dedication to making your space everything it can be. By maximising your space, your style, and your house’s own architectural charm, a good styling professional can create an upward drift in the house’s selling price. The house’s style can often spark bidding wars – a situation every home-seller dreams about.
Real estate selling agents love a well-staged house. When they find one that is exceptional they flock to it. They bring buyers in droves to view the property. Why? Because each agent hopes to be the one who seals the deal. Sealing the deal is what puts the bread on their tables. More exposure means a quicker and more lucrative sale.
Unfortunately, some sellers still think that their house will sell without staging. They list their property without taking the step of staging and it appears online to the vast majority of potential buyers naked and vacant. The result is almost never a good one.
Not only does the house not sell quickly, it can linger on the market for months. In markets like ours, a house that doesn’t sell quickly is perceived to be a ‘lemon’. Soon, when buyers look at online listings, they pass right over the ‘old news’ and never look again. This is a situation where the cost of a lingering listing vastly outweighs what would have been a fairly inexpensive staging process.
Particularly now with the increasing number of properties on the market, having an unimpressive listing spells doom for the seller. When a relatively small investment in staging can mean a much bigger sale faster, it’s a no-brainer. If you don’t believe us, ask your listing agent. Generally the first piece of advice a selling agent gives clients is, “Get a great home stager”.
Once your property is professionally staged, the chances of an uptick in the value are not just good, they’re practically to be expected. These millennial buyers are ripe to buy if they get what they want at a price they perceive as a good value.
Creating positive perceptions is what home stagers do best. They know what the buyer wants and they know how to make those buyer-dreams come true through creativity and design skill. The buyer sees the potential and the potential makes the sale. Playing to the millennial penchant for value and style can make a big difference in your successful home sale.
Smart sellers use every advantage styling can offer. Beginning with an established styling company is a great beginning. We’re ready to help you exceed your home-sale expectations. Use us to your advantage.
Photo credit: Image courtesy of Adam Robinson Landscape Design.