Set to exceed Baby Boomers (the largest generation of their time) in numbers now or very soon, Millennials (born between 1981 and 1996) aren’t the market of tomorrow. They are setting the market today.
What do Millennials value? Technology, environmental awareness and either modernity or nostalgia (nothing in-between).
Technology. Smart climate control, security and home management systems (lighting and entertainment) fit the bill here. Energy efficiency via a Nest or other smart thermostat system is a must for many younger buyers. Ring or other smart, app-controlled security systems have become prevalent enough to qualify as standard in many people’s minds.
Environmental awareness. Along with smart thermostats, an eye toward energy-efficient appliances and renewable energy (read, solar) options also pique the interest of younger buyers. This may mean an investment on the part of sellers wanting to widen the pool of potential buyers, but the potential cost-savings in the meantime can make that investment worth it now and when it comes time to sell.
New or very old. Millennials have shown a taste either for vintage (WWII-era or before) or very recently-built homes. 1970s and 80s? Out. 1920s or 2010 (or newer) are in. So, if you’re selling a home built in-between, you may want to think about modernizing to the modern earth-tones or blacks-and-whites that are popular right now for interiors and losing the shag carpet.Millennials are buying. And with the right features, they might be the ones buying from you.