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Those men and women from the millennial generation are now the largest segment of first-time home buyers. A full 66 percent of people who are purchasing their first home fall into this age group. Not only that, but millennials also comprise more than one-third -- 34 percent -- of the overall home buying market. It's crucial that you learn how to appeal to them.
Today's millennials love to entertain and have guests in their homes. In order to accommodate their desire to offer people the best chance to mingle and get to see everyone, they prefer an open floor plan to separate spaces. This is especially true when it comes to the kitchen, living and dining areas.
Millennials prefer that the home they purchase has already been updated instead of them having to do it themselves. In many cases, this generation will have to use nearly all of their savings in order to put the down payment on their new home. This will leave them with little money to make any updates or improvements.
While opting for low-maintenance features has always been a driving force for many home buyers, there is no generation that has embraced this concept more enthusiastically than millennials. Instead of spending their free time doing chores and home maintenance jobs, millennials would rather be entertaining or exploring their neighborhood's amenities.
Remote work isn't just the trend of the future. It's the way many millennials advance their careers these days. Carving out a dedicated space means that these young home buyers can simply move it and set up their work station without any lag time.
Not surprisingly, millennials tend to be very comfortable with technology. Not only that, but they expect to connect with technology at every juncture in their lives. Opting for smart home features can help them save money, keep tabs on their investment and enjoy access to Wi-Fi throughout the home.
Millennials want to save money while also protecting the environment. Solar panels and smart thermostats are just two ways to help them do that.
Many of the above tips will also make your home more attractive to nearly everyone who is in the market for a new home. However, they'll hold particular appeal for those who are millennials.
I'm John Mahan, Sales Associate with William Raveis Real Estate, Harwich Port Office.
Throughout his childhood, John Mahan spent summers on Cape Cod at his parents’ home in Dennis Port. His intro to the Cape was, as he puts it, when his parents “carried me down the stairs at Sea Street Beach when I was a week old.” With a lifelong connection to Cape Cod, it seemed only natural for John and his wife, Mary, to move to Harwich – where they still reside – with their two young children in 1996.
Prior to moving to Cape Cod, John lived in the Worcester-Auburn area where he worked for Mass Electric for 10 years and was a member of the International Brotherhood of Utility Workers. When John and his family moved to the Cape, he worked at NSTAR for six years.
John began his career in real estate in 2002 when he joined Team Waystack Realty in Harwich Port. He has been a consistent top producing realtor in the Harwich area for the past 20 years. John’s approachable demeanor, combined with an integral understanding of the Cape Cod residential real estate market, have allowed him to build trusting, long-term relationships with his clients – both sellers and buyers.
