Millennials have now become the focus of the property market, so keeping up with millennial housing trends can be one of the smartest investments you’ll ever make for your property.
If you want to sell your home at a reasonable rate by renovating it to appeal to the consumer market— but are completely unsure of where to start, take a look at the top millennial housing trends.
Millennials graduated with a load of student debt. They saw one of the biggest economic recessions when they entered the job market. Oh, and we’re in the middle of a pandemic!
In short, millennials care about affordability. Concerning housing, this means that they’re more likely to rent for longer periods or move back in with the parents.
If you want your property to appeal to the millennial market, then it needs to be affordable with pay-cuts on minimum wage in the event of another recession. You’ll need to add low-cost amenities and help them save up on bills, such as solar panels and insulated windows.
Amenities are super important to millennials. By adding the right amenities, you can actually bring the entire downtown area to your building! If you own an apartment building, we suggest that you invest in things like game-rooms, libraries, gyms, pet-friendly housing, and the likes. This is because millennials appreciate a sense of community, and by creating communal working spaces, lounges, and organizing social events in your neighborhood, you’ll be creating a friendly and appealing atmosphere.
Additionally, your home should come fully equipped with smart technology. Since millennials can’t live without the internet and technology, adding some cool gadgets and investing in smart technology for your home will not only attract your target market, it’ll also help cut down on costs and increase your property’s value.
Appealing to millennials can be quite a task, which is why you need to get a real estate agent to market your property for you. If you’re in the Naples area and looking for a great real estate agent to sell your home or buy a home, contact us at Southwest Florida R.E. Group. We’ve got the best real estate agents in all of Naples and provide our clients with a number of services and resources to buy and sell homes.
Get in touch with us at 239-920-8452 for more information on our services.