Ask Cornerstone: Are Millennials buying homes? Should I market to them?

To put it briefly, YES, millennials are buying homes and in big numbers.  It is a great group to design and market your flip homes.

Millennials are defined to be between the ages of 18 and 35 (in 2015).  It’s commonly said that they have a reputation of not wanting to settle down.  This perception is a little skewed. The last several years of high underemployment and other factors such as student debts and tight credit have delayed them from home-buying.

A recent National Association of Realtors report found that millennials make up the largest share of home-buyers at 32 percent.  The delayed purchases from this group could make that percentage grow even more.

With these statistics, it makes sense to remodel and market your flip home to millennials.  To do that, you need to cater to this “tech generation” and understand their wants.

  • Add Smart Home Tech
  • Think urban and smaller
  • Grays and bold accents
  • Less to maintain, house and garden
  • Ready to live in and staged to their interests

Check out some of these articles about millennial buyers for further details on the above information:

http://realtormag.realtor.org/home-and-design/architecture-coach/article/2014/10/what-millennial-buyers-want-now

http://www.ce.org/i3/Innovate/2015/May-June/Smart-Home-Tech-Adds-Value-in-Real-Estate-Market

 

 

 

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