The Ideal Home for Young Families
In a study published by the National Association of Realtors®, it was found that the millennials comprised of 35% of the home buying population in 2015. That’s more than the combined number of younger and older buyer groups active in the housing market. And what makes it more interesting is that millennials have shown remarkable participation and dominance in the housing market for the past three years.
While this data may initially appear insignificant to a home seller, taking advantage of this data may actually help you sell your home faster. Since most millennials are married and/or preparing to build a family, their search for an affordable home that can accommodate a growing household makes suburban homes an option over expensive and cramped urban dwellings.
If you would like to capture the heart of young family buyers to help you sell your home, take note of the following facts that young family buyers love about a home:
Young family buyers love DIY work, but don’t overwhelm them with repairs
Since young family buyers have all the energy but limited financial resources, they are open to investing in fixer-uppers where they can exercise their creative side to get the job done. However, a home with too much menial repair work may prove to be a turn-off for buyers because, as much as they want to work on their home and claim it as a product of their hard work, they also have to take care of the kids and build their careers.
An ideal fixer-upper home for young families is a budget-friendly home that gives them the opportunity to hone their creative skills (like adding a small portico project over the weekend) without the stresses of worrying about crucial repairs (such as the need to replace moldy wood panels that would cost them dearly).
Work on your back yard
Young families have kids, so an area where children can play without the parents worrying about passing cars or strangers will be a strong factor in making young family buyers decide whether the home is good for them or not. Just make the back yard clean and organized; it’ll be up to them to spruce up the back yard according to their taste.
Build a Fence
A child’s safety is always a parent’s priority, so having a fence will be a big plus when a young family looks at your home for sale. Don’t have a fence yet? There is a study that shows that installing a privacy fence can yield a 50% return on a seller’s investment. To make the long story short, a property where kids can play safely without worrying about passing cars or dangerous intruders is an ideal home for young families.
Go for open-plan kitchens
Growing families need more open-plan kitchens than formal dining areas, especially if the kids need to prepare for plays, recitals, or other forms of extra-curricular activities. Therefore, if your house has an open-plan design where space can be used flexibly, then it could be an ideal home for a young family.
Homes with green energy and eco-saving features
A young family is a growing family. And a growing family has growing expenses. So how can you make your home attractive to young families? Invest on eco-saving features and green energy and you might just make the next young couple fall in love with your home.
This blog post was based on the original Realtor® article which you may access here