Attracting Millennial Home Buyers

The millennial generation which has been known as children and teenagers is now all grown-up and ready to settle with their own families. According to statistics, millennials are going to make mortgage originations in big numbers this year. The numbers predict that the millennial home buyers will outnumber the Gen-X and Baby Boomers by a large percentage. This is simply because millennials make a large percentage of the American population.
 

Millennials have been known to occupy posh and convenient condominiums in city apartments. They love to stay in convenient mid-sized apartments in big cities. However, the fact that they are now starting families, they are moving out of roommate shared flats and into family-size homes. In many parts of the country, there is an upsurge of millennials moving from city condominiums to country-suburban towns to settle and start families there. Selling anything to millennials is not an easy undertaking. Here are some insights on how to attract millennial homebuyers.

 

Have a Good Online Presence

Millennials spend most of their time online. They research online, they socialize online, and they do most of their purchases online. If you want to target millennials for real estate, have a nice online marketing platform. Post good pictures of your property with a clear description. Your photos must be professional and attractive since they are the ones that will attract buyers. Use captions that millennials can relate with so that they feel connected to your home.

 

Make Your Pitch to Match Their Lifestyle

Most millennials love city life because they can have their life, work, and have fun in the same area. Mention areas where they can work, eat, have entertainment when they live on your property. You can mention the commuting, utilities, and spots around your property. Mention fitness centers, hospitals, schools, malls, parks, entertainment spots, and transport utilities near your property.

 

Give Them Confident Financing Plans

Most millennials are not buying homes on large payments. As a home seller, consider giving them financing plans that will help them with loan approval. Put everything in the fine print so that they can understand the costs well. Explain the whole process so that they can estimate the mortgage payments and understand the payment plan. Remember that they have grown in the information age, so transparency is key.

 

Make It Easy for Them to Bid

Millennials use technology for everything. Have reliable and easy to use online processes. This includes listing, pre-approval processes, mortgages, and viewings. Make it easy to access the property and make a bid without dealing with a pile of paperwork. You do not have to reinvent the wheel on this. Use the existing services and platforms that are already there.

 

Include Smart and Eco-Friendly Features in Your Home

Millennials are attracted to the eco-friendly and tech-friendly homes. Highlight the solar panel heating system, energy-efficient appliances, smart technologies, and all the modern installations that you have. Your tech-savvy home should not only be modern, it should be affordable as well. Add features that will save them money eventually.


 

To understand more about millennial buying patterns, visit Blue Horizon Realty and Lending Inc. at our offices in Escondido, California. You can also call 760-237-4092 for further inquiry.