April 25 2020

Fixer Uppers Are a Thing of the Past for Millennial Homebuyers

by Erin

outdoor kitchen living space

As there has seen an increase in Millenial home buyers over the past few years, there has also been a shift in the types of homes that catch their young eyes.  This age bracket is looking for new homes that are ready to move in. They are passing up homes on the market that are distressed or run down to be able to walk into a move-in ready home. With today’s daily hustle and bustle, there is not very much time to dedicate to remodeling an entire home. Because of this new trend, homeowners that are looking to sell in this everchanging market are spending more on high-end remodeling before placing their homes on the market in order for them to sell.

 

Many Millennials are interested in homes that require very little maintenance and stress. The kitchen space is one of the most visited rooms in the home and detail is everything. Spacious, updated kitchens are a must-have. The aesthetic of granite counters with lots of space for preparing meals and stainless steel appliances as well as a kitchen island has been very appealing. Kitchens are not just about cooking anymore but they must flow with the rest of the home and offer a great space to entertain family and friends. 

 

Homebuyers of today are also looking for smart homes. Anything less than that is a thing of the past. Smart home features have impacted the real estate industry in a major way over the past decade and more new home builders and sellers have made it a priority to include in-home technology for their buyer’s convenience. Millennial buyers are more willing to pay a little more to gain the convenience of connecting to their home from their smartphone with features like a programmable thermostat, home security, and a Ring doorbell as well as streaming their favorite Netflix series.

 

A large number of Millennial buyers are self-employed or work from home. There has been an influx of self-made entrepreneurs and creatives in this age group that requires a space in their new home to let their creativity flow. A dedicated workspace has been an attractive trend on the list. Sellers have been intentional about showcasing a spare bedroom, loft, or nook in the home that would work well as a home office to make the home more appealing. 

 

One of the biggest trends that are evident is the need for large open spaces in the home. Today’s home buyers are looking for lots of natural lighting and fewer walls that would leave them feeling closed in or confined in their living space. Older homes from the past tend to be dark and drab with rooms that are closed off. Companies like Nana Wall help sellers to resolve this issue by installing folding glass walls in homes to offer more indoor-outdoor spaces that can open up to kitchens and bathrooms and provide more natural lighting and an open feel in the home.

 

Every day, home buying trends are changing and evolving in the real estate market and both buyers and sellers have to stay on their toes. Understanding the needs of upcoming home buyers is very essential to the sale of both new and preloved homes. 

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