It’s no surprise that Millennials have more buying power than ever. This power translates to influence, especially when it comes to real estate—Millennials are now the largest group of home buyers, accounting for 34% of the market. This recently-released infographic from Nationwide Mortgages takes an in-depth look at how Millennials are changing the housing market. Their findings show just how much the industry has shifted to meet the needs of Gen-Y buyers. The biggest takeaway? Turnkey properties have a lot of appeal.
Nationwide Mortgages found that Millennials are more likely to choose newly constructed homes to avoid major repairs. For this generation of homeowners, “move-in ready” is a top priority. Millennials aren’t looking for a fixer-upper. Busy careers and student loans leave younger buyers with little time and money to spend on renovations. What are the must-haves for a Millennial dream home? A big kitchen, upgraded appliances, and high-tech features.
- 46% of Millennials want a luxury kitchen
- 75% of Millennials want new appliances
- 43% of Americans who use smart home technology are Millennials
The demand for move-in ready homes is only going to grow, Nationwide Mortgages reported that 33% of Millennials plan to buy a house within the next 3 to 5 years. As more Millennials enter the housing market, sellers will be expected to make updates if they want to give their home a competitive edge.
How can Avenue3 help make your home more appealing to Millennial buyers?
Avenue3 doesn’t just sell your home, we upsell it for a higher price. Our team stays up-to-date on the latest interior trends, and we use our expertise to refresh and modernize your house before listing it. Avenue3 knows how to maximize your home’s value, because we know what buyers are looking for. We make improvements that make your home move-in ready, and we do it with no out-of-pocket cost to you. Avenue3 will pay for the renovations upfront, so you don’t have to invest in a home that you’re putting on the market. Our team can help make your house into a Millennial-friendly dream home, so you can upsell it at a higher price.