It’s a fact that the Millennials are driving the real estate market. More and more, they are starting to search for their first home. If you take certain actions you can make your house more enticing to the millennial buyer.
Millennials have grown up with the idea that they can go anywhere and do anything they want. And yes – they want it all. They may be looking in the market to buy several times before they actually go ahead and pull the trigger. Things that cause uncertainty for them are they wonder if they are going to be changing their career, they don’t know if kids are in their future or not. Many are in contract jobs and are worried that the contract will not get renewed.
One way to make your house more attractive to millennial is to show how spare room can be used as either an office or a nursery. Or they can generate income by making it a rental.
Millennials typically are saddled with debt. And most cannot afford much than the basic house. But they do understand that potentially they can create value in a bigger home if it’s in questionable condition and they can fix it up. They’re confident, educated and they watch shows on TV about flipping houses. And they’re often interested investing in a fixer upper.
Location and the neighborhood matter to millennials. They tend to work at something that is not the typical nine-to-five job. They like being close to restaurants and delivery options. High-speed internet availability is a must. And many would rather walk or ride a bicycle to work.
But since they need to be able to afford it, they may have to go for a home in the suburbs rather than in the city. So this creates an issue for them. They want the convenience of living in a city, but quite often have to buy because of financial concerns in the suburbs.