Springtime is coming! For many that means the advent of warmer weather, gardening, and spring cleaning. But for those who are trying to sell a home, it can mean an influx of new buyers who are ready to make a move. Whether your house has been on the market for a while or you are just now preparing to put it up for sale, we have some tips that can help make 2018 the year you sell your home.
One option to consider is targeting the millennial market. Many think of millennials as too young to be serious home buyers, but they are coming of age quickly, and could feasibly make up 43% of mortgage loan recipients by the end this year. Though there is a somewhat curmudgeonly attitude toward them in the media, they are, in fact, the largest purchasing group in the country right now.
So how does one appeal to this market? What are millennials looking for in a home? Location is important, but not the urban, hipster locations one might assume. 57% of homebuyers 36 and under purchased homes in the suburbs last year, as opposed to just 15% in urban areas. That said, they do like walkable neighborhoods, so a suburban area with cafes and shops nearby is ideal.
Unsurprisingly, the era of the McMansion is over, young buyers are gravitating toward homes that meet, but do not exceed, their space requirements. However, a home that feels more spacious than it actually is will always be well received. Eco-friendly features, such as solar panels and storm windows are a plus as well.
While trying to attract the millennial market, don’t forget about baby boomers, another hot home buying demographic. Going forward, the 65 and over age group is is expected to double, from 46 million in 2016 to more than 98 million in 2060. To appeal to an aging homebuyer, play up accessible features like walk in showers, or things like a lack of stairs and ground floor master suite that that can be a real boon. Even something you might think of as a negative, such as a small yard or zero lot line house, can be a bonus to an aging population less interested in spending time on yard work.
Smart home automation plays well to both younger and older buyers, many will already own a device such as Amazon Echo or Google Home, as you add smart features such as lights or thermostats, be certain you invest in a type that are compatible with as many systems as possible, to appeal to the broadest range of buyers.
Lastly, for convenience sake, you might consider a pre-inspection of your home. Buyers have more demands on their time than ever, a pre-inspection that can assure them your property is move-in ready without any work to be done will give your home the edge.
Wether you are a buyer fresh to the market or an owner ready to sell, Setco Services is ready to help. We offer a full range of closing services and are happy to offer advice and assistance getting you to the closing table and into your new home or out of your old one. Click below to enquire and learn what we can do to partner with you today!