Sponsored by GAF – It’s past time to stop thinking about Millennials as completely uninterested, just because they are early adopters Uber.
The U.S. home ownership rate rose for the first time since 13 years in 2017. It now stands at 64.2 per cent. This shift was mainly driven by the younger 35-year-old crowd, who were wary of making a commitment for financial reasons as well as personal reasons.
“This is happening because young households are buying homes. Full stop,”The Wall Street Journal was informed by Ralph McLaughlin (chief economist at Trulia), about his role as chief economist for home listings provider Trulia.
These aren’t the only potential buyers. If you’re thinking of selling your house in the near or distant future, then you may want to look at this generational guide to four upgrades experts recommend to help attract buyers.
* Cross-generational: a new steel door. Remodeling magazine’s 2017 Cost vs. Value Report was dominated by loose-fill attic insulation. However, this project – which had a 90.7% return-on-investment – is the main takeaway of the report. “Curb appeal projects, by and large, generated higher returns on investment than work done inside the home.”
Furthermore, Millennials have a preference for open floor plans and hardwood floors, which may make them different from older generations. Architectural Digest reports that they are still into interior design. “traditional exteriors.”
* Millennials: smart-home tech. Boomers and Generation Xers are tech-savvy, but Millennials are more interested in homes that can be controlled from their smartphones.
“They want to use their brains for other things, not for remembering whether they adjusted the heat or closed the garage door,”Angie’s List stressed.
* Cross-generational: a new roof. It is the ultimate curb-appeal enhancer and a perennial Remodeling magazine A lister. Credit.com has observed that “buyers pay a premium for one already in place.”
If prospects are able to notice the first thing they see even before getting out of their cars, it is a sign that something is amiss. “Twister,”There’s a problem.
“It’s a huge turn-off,”Patsy O’Neill (a Sotheby’s Montclair, New Jersey sales associate) said: “and makes buyers of all ages predisposed to find even more things they don’t like.”
The Sienna series of diamond-shaped shingles by GAF is a great option if your roof needs to be replaced.gaf.comThey are North America’s largest roofing company, and have captured the sensibilities of this generation.
“They pick up on key Millennial style trends of natural, clean materials, clean lines, and the integration of artistic elements,”Leslie Franklin is the executive director of residential marketing for GAF.
* Millennials: all-new appliances. Realtors will tell you that major renovations to your kitchen or bath are not worth the high price, as prospective buyers may have different tastes.
Millennials, however, do love new stainless steel appliances. RealtyTimes.com even called it “The Best Stainless Steel Appliances” “an astonishing majority of 75 percent”Recent survey respondents chose to spend hypothetical home buying funds on them.