Millennials, or Generation Y, now make up the largest group of home buyers in the US. According to statistics, there are now over 75 million millennials. They’re not only buying homes but are also driving the market. By upgrading your home and making it more appealing to this demographic, you could make a killing in the real estate market.
Here are some upgrades that can attract millennial homebuyers:
Aesthetic Upgrades
There’s no doubt that millennial home buyers are after aesthetic houses. And there are plenty of good reasons for this! For one thing, most millennials grew up during a time when HGTV was just getting started. This network gave them a crash course in home renovation and design and is one reason why they’re now obsessed with having beautiful homes.
Social media also played a role in today’s obsession with aesthetics. Platforms like Instagram and Pinterest constantly expose consumers to photos of stunning homes. This only strengthens their desire to have a beautiful home of their own.
Millennials also value aesthetics more than previous generations. They place a higher importance on style and design and are actually willing to pay more for a house that looks good. So if you’re planning on upgrading your home to make it more appealing to millennials, consider aesthetics first.
Take indoor fireplaces as examples. These are luxurious upgrades that can really make a house stand out. These can help you make your living space more inviting and comfy and even add value in the long run.
One of your more modern options is bioethanol fires. These have a very sleek design that can complement any contemporary home. They don’t require a chimney or gas line, making them much easier to install.
The great thing about bioethanol fires is that they come in many variations. You can get a freestanding one that you can add to your living room, a table top variant if you lack space or even an automatic one to add elegance to your interiors. These are also a better and more sustainable option compared to traditional fireplaces as these produce significantly less CO2 emissions, soot, or sparks.
Functional Upgrades
While most millennial home buyers are after good looks, they’re also practical. They want a house that’s not only pleasing to the eye but is also functional. After all, they’re the ones who will be living in the house, so they want to make sure that it meets their needs.
One functional upgrade you can consider is adding more storage space. This is especially important for tiny homes as this can help you declutter and make the most of your limited space.
You can add shelves, cabinets, or even a pegboard to help you organize your things. If you have a lot of stuff, consider getting a storage shed or installing built-in storage. This upgrade can help you keep your things in order and make your home more functional and organized.
Another functional upgrade you can consider is adding smart features to your home. This is something that’s becoming more and more popular among millennials as this makes their lives more convenient. Some of the most common smart home features are automated lights and thermostats.
Smart thermostats are a great smart home feature that can help you save money on your energy bills. This is because these allow you to control your home’s temperature even when you’re not there. Your home’s new homeowners can set it to a comfortable temperature before they come home and ensure that they’re not wasting energy when no one’s home.
Automated lights are another popular way to save energy as you can control them using your smartphone or voice assistant. This means you don’t have to waste energy by leaving the lights on when no one’s home. Since millennials are always on the go, this is a convenient and practical upgrade for them.
Energy-efficient Upgrades
Millennials are more eco-conscious than any other generation. So it’s no surprise that they’re on the lookout for energy-saving homes. If you want to make your home more appealing to this group, consider making some energy-efficient upgrades.
You can consider replacing old appliances with energy-efficient ones. This is an upgrade that can help you save money in the long run, as well as make your home more eco-friendly. The appliances’ ability to consume less power without sacrificing performance makes them energy-efficient.
When buying brand new appliances, look for the Energy Star label. This is a certification by the US Environmental Protection Agency that verifies that the appliance meets its energy-efficiency standards.
Don’t forget that how you dispose of your old appliances also matters. You should recycle them instead of throwing them in a landfill. This is something that most millennials would appreciate. If recycling is no longer possible, you can also consider donating them to charity or sending them to certified e-waste recycling centers.
These are just some upgrades you can consider if you want to make your home more appealing to millennials. Keep in mind that this generation is always looking for stylish, sustainable, and functional homes. So if you want to attract them, make sure that your home has these three qualities.
