8 essential, low-budget renovations that will make your home more appealing to millennial buyers
- Millennials make up 35% of homebuyers.
- If you're selling your home, you should pay attention to the unique needs and preferences of millennial buyers.
- Small renovations to your home's lighting, floors, and outdoor spaces can make it more appealing to millennial homebuyers.
Millennials make up the largest generation in the US, and 34% of all homebuyers.
Although it's true that millennials are happier living in urban settings, those that are buying homes are now gravitating toward the suburbs, according to a recent study by the National Association of Realtors.The typical buyer is married with kids, is looking for more space at an affordable price, and views home ownership as an investment, the study said. So if you're a seller, you should be paying special attention to this market, which has its own set of needs and preferences.
Before they even contact a realtor, they've spent every spare moment perusing Zillow, creating Pinterest boards, combing Houzz for design ideas and making lists of "must-haves."
"Small changes will optimize your online imagery," Erin Feeney, a top realtor with the William Raveis real-estate agency in Boston, told Business Insider. "You're capturing them first on Realtor.com or Zillow, and if your pictures scream 'old,' you won't get the crowd you want."
To make sure your home gives them at least some of what they want, here are eight relatively low-priced upgrades and improvements you can do to appeal this generation of buyers.