Right now, millennials make up the largest percentage of homebuyers nationwide. So if you aren’t marketing to millennials, you’re missing out on a huge chunk of potential buyers. But millennials have very specific tastes, needs, and wants. And that means you may need to adjust your prep work in order to appeal to this target market. Let’s take a look, then, at 6 things you can do to make your house appeal to millennial buyers in Los Angeles.
1. Go for the “Wow” Factor
First, in order to appeal to millennial buyers in Los Angeles, you need to know what makes them tick as homebuyers. Now, millennials are indeed denizens of the digital world – Internet-savvy and immersed in information and facts. So they typically do much of their home shopping online and carefully weigh prices and features.
But that’s not the whole of it . . .
Millennials are also powerfully swayed by how a house fits with their lifestyle and, as a result, how it affects them emotionally. According to marketing pros, “these young buyers want to be swept off their feet by ‘how the home lives . . . When Millennial buyers are considering a home, at the top of their minds is how the spaces fit into their ‘ideal life,’ which is based more on pleasure than work that needs to be done. Remember to think like a buyer to be a successful home seller.”
Appealing to millennials, then, means putting yourself in their homebuying shoes in order to market specifically to that demographic. Consult your local real estate agent to find out exactly how to do that. (Discover more by calling 562-881-9811.)
2. Get the Color Palette Right
Color is very important if you want to make your house appeal to millennial buyers in Los Angeles. The standard advice for prepping a house for sale is to repaint walls in neutral tones and hues, and that still holds to some degree for millennials. “Younger buyers prefer cool color tones – such as whites, grays, light creams and blues over warmer color tones like darker beige or bolder colors.”
You also need to make sure the wall colors complement other colors in your home, for example, those in floors and cabinets. It’s possible to get a higher sale price when the colors are appropriate for the target market.
3. Replace Hardware and Light Fixtures
And the advice to replace hardware and light fixtures also holds if you want to appeal to millennial buyers in Los Angeles.
New hardware on old fixtures will brighten both kitchens and bathrooms. It’s an easy, inexpensive way to give those spaces an updated look.
“While a little more expensive than hardware, adding more dramatic (yet still neutral) light fixtures adds some WOW factor that younger buyers love! While you may prefer a ceiling fan in your bedroom, millennials often prefer a chandelier or pendant light to make the space feel more luxurious. Again, a few hundred bucks can add instant drama!”
4. Stage It
You can’t skip professional staging either. Although it will cost you, numerous studies have shown that staged homes sell quicker and at a better price – especially when the goal is to appeal to millennials.
Experts say that “even though they came of age during the HGTV era, many millennials don’t have the vision to see past furniture – both the style and the way it is arranged in the room. That’s why it’s critical to make the space feel like them from the outset. Great staging means great photographs which gets buyers in the door. Once they’re inside, it gets them to envision themselves (instead of their parents or grandparents) in the space. You want them to feel immediately at home.”
5. Don’t Neglect Outdoor Living Space
Outdoor living space is highly important to millennial homebuyers. Many of them are coming from apartment or condo living and so eagerly look forward to having an outdoor living space where they can entertain. So if you want to make your Los Angeles house appeal to millennial buyers, you’ll have to put some effort (and maybe money) into making the outdoor living spaces look cozy and inviting.
6. Improve Curb Appeal
Another important aspect of making the outside of your home appeal to millennial buyers in Los Angeles is improving curb appeal. The main reason for this is that it creates that critical first impression. In fact, potential buyers decide whether they like a home or not within the first 30 seconds.
In addition, landscaping, a huge element of curb appeal, yields an impressive return on investment at sale time. So get busy painting and mowing and planting shrubs and flowers. And don’t forget to replace the front door if it needs it.
Listen to Your Agent
If you really want to make your house appeal to millennial buyers in Los Angeles, listen to your local real estate agent. Your agent will know exactly what appeals to them and how to market to this demographic. After all, they make up the largest portion of the first-time home buying market. A local agent can also be a valuable asset because conditions in local markets can vary so widely. Find out how our experienced agents can help you appeal to and sell to millennials. Reach out to us today at 562-881-9811!