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Trying to Sell Your Home To Young Professionals? Here’s What They Want (And Don’t Want) Your Home To Look Like

Trying to Sell Your Home To Young Professionals? Here’s What They Want (And Don’t Want) Your Home To Look Like published on 1 Comment on Trying to Sell Your Home To Young Professionals? Here’s What They Want (And Don’t Want) Your Home To Look Like

It is always challenging to sell a house, because so much of it depends upon the current (and ever-changing) real estate market. But if you have an older house and want to appeal to buyers in their 20s and early 30s, you may need to take some extra steps. See: What Millennials Want in Home Design. You’ll need to showcase the features that have the most appeal to young couples and families. The tips below will cost you next to nothing, and will help you sell your house fast.

Homes in Charlotte, NC area

Pre-inspect your home. One of the most difficult decisions for home sellers is to figure out how much to spend on home improvements before putting the house on the market. An inspection will help determine if there’s anything that absolutely must be done before putting the house on the market. In addition to a general home inspection, you should consider getting the heating and air-conditioning system cleaned and inspected, as well as having septic systems pumped.

Buy a home warranty. Sellers buy home warranties that cover repairs for the systems (electrical, plumbing, heating and cooling) and appliances in the home. Most home warranties are available as one-year policies and provide coverage while the property is on the market and after the closing. A home warranty costs around only a few hundred bucks, and it reassures buyers that they won’t be faced with a major repair expense in their first year of homeownership.

Offer a possible expansion or renovation plan. Younger buyers don’t always realize that everything they see can be changed with a renovation. Sellers can pay for simple drawings that show some renovation options that would work well with the home’s configuration and its lot. theSweeten_AMC_DorchesterPlans-copy1

Provide renovation-loan information. Mortgages are available that allow homebuyers to borrow money to buy the home plus money to pay for renovations. The most popular renovation-mortgage program is called the FHA 203.

Offer a credit for repairs. Sellers don’t always have the money or the energy to make repairs themselves, and besides, some buyers will want to do renovations their own way. While repair credits are often part of the negotiating process, if you know some things will need fixing, let them know upfront.

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Lighten and brighten your home. Homes that were built decades ago are darker with smaller windows, so to compensate for that, you need to remove the heavy window treatments and clean the windows to make sure as much light as possible is coming in. Use the brightest light bulbs you can and update your light fixtures. Trim shrubs covering windows, remove old carpet from hardwood floors and remove dark, heavy furniture. Read: 4 Reasons Young Professionals Still Aren’t Buying Houses.

Highlight neighborhood amenities. Younger buyers often are interested in schools, even if they don’t have children yet. Your marketing materials should mention everything that appeals to young couples and families such as the location near commuter routes or public transportation, swimming pools, tennis courts, a gym, or nearby shops and restaurants. You need to sit and really think about what it is that younger buyers need. Think about what you would want today when you were younger, but the technology and design wasn’t available as readily as it is today. 

Paint your home in neutral colors. The old rule of thumb used to be that sellers were supposed to paint their rooms white in order to appeal to all buyers. These days, white rooms tend to look boring, especially to younger buyers. Therefore, opt for neutral paint color choices rather than just a bland white. For further reading, see: How Boomer Home Sellers Can Hook Millennials.

 

1 Comment

Do not forget that there are basically two scenarios that will occur if you buy a starter house. The first is that you will end up living there for an extremely long time. If you do this, you’re likely to do really well. This is because you will have avoided the trap of buying as much home as you can afford, and will instead have focused on buying the ‘least’ home that will meet your needs.

The second is that you actually use it as a starter house. In this scenario, if you keep the house for 5-10 years, and you’re lucky, you might end up in a financial spot similar to the one you’d be in if you had rented a comparable home, and invested the saved money. If you aren’t, you’ll actually be significantly worse off. People who are young and reasonably likely to move within 5 years usually shouldn’t purchase a house.

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