When selling your home to any age group, it’s always important to tailor your home to their specific needs and wants. In this article, we’ll explore the different factors that Generation Y (or millennials) look for in a Florida home. Understanding the needs of millennial homebuyers will enable you to make wise property improvements, and ultimately, set a higher price for your property.
Location will always be a critical consideration for homebuyers across all age groups. In general, millennials seek homes with easy access to transportation, allowing them to commute to work easily. Gen Y, particularly those with children, prefer properties that are conveniently close to schools. Additionally, they’re drawn to amenities that enhance their family’s quality of life, such as pet parks, playgrounds, and more.
If you’re still “window-shopping” for an investment property, it’s a wise decision to consult a professional property management company. Through their investment services, they can guide you to properties that align with your target market’s preferences and are poised to generate high returns.
Smart Home Integration
Millennials are used to the convenience of technology, having grown up with a variety of gadgets. With that in mind, it’s paramount for your home to stay up-to-date in terms of smart home tech. Gen Y prefers homes with the conveniences of smart thermostats, smart locks, security systems, etc., all of which they can control via their phones.
It’s worth noting that your home doesn’t have to be too high-tech. Overloading the property with too many smart enhancements could potentially deter millennials, as it might drive up the overall home price.
Open Concept Layout
In older homes, you’ll often find that rooms are separate from one another. For instance, traditional kitchens tend to have their own enclosed space, separate from the rest of the house. However, this closed-off layout simply doesn’t work for modern millennials.
Many Generation Y homebuyers gravitate toward properties with open-plan layouts. Not only does this design prevent the home from feeling cramped (great for those who work from home), but it also offers the flexibility to host gatherings. An open floor plan provides them with the opportunity to entertain, while accommodating larger groups of friends.
While converting your home into an open-concept style can be a substantial investment, it’s still worth exploring. If you’re uncertain, consulting a property management company can provide you with an estimate of the returns.
Contrary to popular opinion, not all millennials want to live in the city, where they’re detached from nature. Many of them prefer to live in the suburbs, where they can easily access parks, walking trails, and other outdoor areas. They want homes with vast outdoor areas, providing them the opportunity to socialize, play with their pets, or simply relax.
If you’re considering home improvements before putting your property on the market, you might want to build a deck. This cost-effective addition will offer future residents a peaceful retreat right in their own yard.
Millennials, like most generations, seek homes with practical storage solutions. Instead of filling their spaces with standalone furniture, they’d rather have it be outfitted with built-in pantries, closets, etc. This allows them to maintain a clutter-free environment, which aligns with their preference for minimalist styles.
The good news is that improving your property in this regard won’t cost you a ton of money. To save even more, collaborate with a reputable property management company, and tap into their network of top-rated vendors. These firms maintain strong relationships with service providers, enabling them to secure competitive rates on behalf of their clients.
The COVID-19 pandemic ushered remote work into the mainstream, and millennials aren’t willing to give up their newfound work-life balance so easily. Because of this, their preferences have vastly evolved. They seek homes with a comfortable workspace, while still feeling like a safe abode they can retreat to.
Consider creating a dedicated office space, allowing future homeowners to work from home with ease. It doesn’t have to be massive—most millennials will only need a small room with a desk, plenty of outlets, and a good source of natural light. You can consult a property management company to ensure it meets millennials’ design needs.
If space constraints are a concern, contemplate creating multi-functional rooms that can adapt to various needs. These areas can be easily transformed to suit the homeowner’s needs and lifestyle.
Environmentally Friendly Solutions
Millennials are one of the most eco-conscious groups of homeowners. They’re aware that even seemingly small practices can have a significant effect on the environment. Because of that, they’re looking for “green” homes with eco-friendly and energy-efficient features, such as smart thermostats, LED lights, and solar-powered lights. Not only are these amenities aligned with their green goals, but they also help them lower their bills.
When preparing to sell your property, it’s advisable to seek guidance from a Florida property management firm. They can highlight your home’s eco-friendly features in the listing, allowing you to attract a wide range of house hunters.
Separate Laundry Area
Washer and dryer crammed into the bathroom or garage? No, thank you! The laundry room may not seem like a significant factor, but many modern buyers, particularly millennials, would like it to be a separate space. They want their laundry area to have a room of its own, away from sight. This allows them to maintain a clutter-free aesthetic.
When planning property improvements, consider creating a small yet functional laundry room in the basement. Outfit it with shelves, tables for folding dry laundry, and more. This is a budget-friendly project that can go a long way in attracting more homebuyers.
Most of today’s homes feature an open floor layout. This means that most rooms, like the kitchen, are always within view. Because of this, most millennials prefer their kitchens to be outfitted with sleek touches, such as stainless steel appliances, islands, etc. In that way, their kitchen always looks stylish and is worth showcasing.
It’s also important to note that millennials love to entertain, making it a must for their kitchens to accommodate that need. When improving your property with the help of a property management firm, create a kitchen that flows freely into the living spaces. Young homebuyers will appreciate the convenience of being able to cook and engage with their guests at the same time.
Upgrade Your Home With A Property Management Company
If you’re planning on selling your Florida home, consult the real estate experts at Luxury Property Care. Through tailored improvements, we’ll make sure your home adapts to modern millennials’ preferences. Additionally, we’ll leverage our network of trusted vendors to carry out the work at cost-effective rates, allowing you to maximize your returns.