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Have You Outgrown Your Home?

by Amy McLeod Group


It may seem hard to imagine that the home you’re in today – whether it’s your starter home or just one you’ve fallen in love with along the way – might not be your forever home.

The good news is, it’s okay to admit if your house no longer fits your needs.

According to the latest Home Price Insights from CoreLogic, prices have appreciated 3.5% year-over-year. At the same time, the National Association of Realtors (NAR) reports inventory has dropped 4.3% from one year ago.

These two statistics are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.

This is great news if you own a home and are thinking about selling. The equity in your house has likely risen as prices have increased. Even better is the fact that there’s a large pool of buyers out there searching for the American dream, and your home may be high on their wish list.

Bottom Line

If you think you’ve outgrown your home, let’s get together to discuss local market conditions and determine if now is the best time for you to sell. Contact The McLeod Group Network at 971.208.5093 or [email protected] for ALL your Real Estate needs! 

By: KCM Crew


Ten years ago, many homeowners were desperately hoping to hang on to their homes. Others were doing everything they could just to scare up potential buyers. Meanwhile, said buyers were struggling to get financing from newly skittish lenders. Ah, memories. What a difference a decade makes!

It has, in fact, been the most consequential stretch in American real estate history, one that has fundamentally altered the landscape. Cosmopolitan coastal cities are out; affordable midsize cities are in. Baby boomers and Gen Xers are no longer the dominant forces in buying, ceding that turf to millennials. Yet after all this time, it seems that home buyers still can't get much of a break, according to a new report from realtor.com®.

 
 
 

“In 2020, there will be opportunity for buyers, but in many ways the challenges they’ve faced for years are going to persist—challenges like difficulty finding the home that’s right for them, and competing with other buyers, especially in affordable price points," says Danielle Hale, chief economist at realtor.com, whose team pulled together a forecast of housing trends for 2020.

In other words: The more things change, the more they'll stay the same. A lack of homes for sale has been making things difficult for buyers since 2015, and next year, inventory could reach historic lows. And although single-family home construction is expected to increase 6%, it still won't be enough to keep up with demand.

There is a bright side, though: Mortgage rates are expected to remain reasonable, at an average 3.85%.

Let's take a closer look at the biggest factors that will shape the real estate market in 2020.

Affordability, affordability, affordability

OK, it's not as catchy as "location, location, location," but achievable price points will be key in the coming year, especially as millennial buyers solidify their position as America's main home buyers (more on that later).

Now that we've apparently hit the ceiling of crazy price growth, it seems that buyers are just over overpaying.

"Many people would prefer to live in the San Franciscos and [other] big cities, but for the right price they will make the decision to go to another city," says Hale.

Perhaps a city like, say, McAllen, TX, where sales are expected to rise 4.4% and home prices to appreciate 4% in 2020. Compare that with a 9.5% drop in sales for Las Vegas, and 1.1% decrease in home prices.

Texas, Arizona, and Nevada are expected to welcome an influx of home shoppers priced out of California. Meanwhile, would-be buyers from pricey Northeastern markets will likely head to the Midwest or Southeast. There, they can find affordable housing as well as solid, diversified economies.

Millennials mature into home buying

"The largest cohort of millennials will turn 30 in 2020—historically, that's when people tend to think of buying their first home," says Hale. The oldest millennials will be turning 39. By the middle of the year, she says, this generation will account for more than 50% of mortgages taken out in the country. Yes, that's more than all other generations, combined.

Surprised? Well, the popular notion that millennials aren't interested in settling down just isn't proving true as members of this generation, born in 1981 through 1997, partner off and start families.

"Family changes tend to drive home-buying decisions," Hale notes. "Millennials are going to be active in the housing market not just because they're just at the age when they're thinking about becoming first-time home buyers, but they're also in the age range when they're having kids."

But while they may be motivated, they'll face a lot of competition for the scarce homes on the market—from roughly 71 million of their peers nationwide.

Where are the homes?

While millennials are raring to buy, Gen Xers and boomers are pretty comfortable where they are, thank you very much. Boomers are living longer, healthier lives, and staying in their houses longer. Gen Xers often aren't quite done with raising kids or ready to retire, so except for the lucky ones trading up, they also aren't inclined to move.

Since older owners aren't quite chomping at the bit to give up their houses en masse—and with levels of new construction still low in most parts of the U.S.—there just won't be enough housing to meet the demand. And while in previous years this scarcity has driven up home prices, home price appreciation is finally flagging, with predicted growth of just 0.8%.

After the housing crash in 2008, which wiped out quite a few builders, those who remained have largely focused on higher-end developments with bigger profit margins. Although they're finally showing signs of a shift toward building more entry-level homes, faced with overwhelming demand, it will take a few years for a significant number to come to market.

How to buy a home in 2020

Those looking to buy an entry-level home will face a tough search, so they should be prepared for it to take a while—and to act quickly when needed.

"Finding a property that is right for you and snatching it up before someone else does is going to be the primary challenge," Hale says.

Those with a bit more to spend will have more to choose from, less competition, and possibly more motivated sellers.

How to sell a home in 2020

Sellers of entry-level homes should be sitting pretty, as those will continue to be the most in-demand properties next year. If anything, those sellers should be prepared to move out quickly!

Others should brace themselves for a longer wait, especially as the price point moves up. The number of existing-home sales is expected to dip 1.8% next year. Higher-end sellers should do their homework: "They might need to think about the competition and pricing their home competitively," Hale says.

Thinking about buying a home or selling your current home in the new year? Let's get together and discuss your options. Reach us at 971.208.5093 or [email protected]

By: Realtor.com, Cicely Wedgeworth

5 Reasons to Sell This Winter

by Amy McLeod Group


Below are five compelling reasons to list your house this winter.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase, and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Inventory is still under the 6-month supply needed for a normal housing market. This means in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.

Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell.

3. Buyers Are Serious at This Time of Year

Traditionally, homeowners think about spring as a great time to list their homes, when more buyer traffic may be out there actively searching. In the winter, however, the buyers who are seeking a home – whether for relocation or otherwise – are serious ones. They’re ready to make offers and they’re eager to move, often quickly. Your house may be exactly what they’re looking for, so listing when other potential sellers are holding off may be your best opportunity to shine.

4. There Will Never Be a Better Time to Move Up

If your next move will be into the premium or luxury market, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you’re planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that now. Demand for your entry-level home is high, and inventory in the luxury or premium market is too.

According to CoreLogic, prices are projected to appreciate by 5.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and in your mortgage) if you wait.

5. It’s Time to Move On With Your Life

Look at the reason you decided to sell in the first place and determine whether it’s worth waiting. Is money more important than being with family? Are you ready to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market this winter. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Contact The McLeod Group Network at 971.208.5093 or [email protected] to find out how much your home is worth!

By: KCM Crew

The #1 Reason to List Your House in the Winter

by Amy McLeod Group


Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.

So, what’s the #1 reason to list your house in the winter? Less competition.

Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.

As you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January). 

Temperatures aren’t the only thing that heats up in the spring – so do listings!

In 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with them to come to the market before you decide to list your house.

Added Bonus: Serious Buyers Are Out in the Winter

At this time of year, purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.

Bottom Line

If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s get together to determine the best time to list your houseReach us at 971.208.5093 or [email protected]

By: KCM Crew

3 Fast Fixes for the Home Features Millennial Buyers Hate

by Amy McLeod Group


When it comes to selling a house, you want to appeal to as many potential buyers as possible. For years, that meant targeting baby boomers and Gen Xers; but today, millennials are buying homes in larger numbers than ever. In fact, by early 2019, they represented 42% of all new home loans. This means that any seller would be wise to keep millennial buyers in mind when getting a house ready to show.

While there are definitely upgrades that sellers can make to catch the eye of millennial home buyers, there are also some home features that are known to send millennial buyers running. Curious if your own home has any of these features? Check what these real estate agents say repel millennial homes buyers today—and how to fix these problems with minimal money and effort.

1. Wood cabinets in the kitchen

Interior decor choices might seem trivial, but they can have a big impact on buyers. For instance, Yuri Blanco, the owner of Re/Max Executives in Idaho, says that old-fashioned wood cabinetry in the kitchen is a huge turnoff for most millennial home buyers.

Photo by CDH Designs LLC 
 

"Millennials aren’t looking for oak cabinets like we saw in the 20th century," she says. "They like more clean lines and cabinets with flat doors."

Photo by Dawn Hearn Interior Design 
 

The fast fix: If your budget doesn't allow for tearing out dated cabinets, there's still hope. Consider other ways to update the kitchen, such as sanding and painting the existing cabinetry.

2. Closed floor plans

Photo by Roundhouse
 

Blanco says the classic closed floor plan is a turnoff for most millennials, and suggests that sellers take whatever steps necessary to fix the issue.

"Before selling, try knocking out some walls," she says. "Millennials want wide, open spaces."

Photo by Niki Papadopoulos
 

The fast fix: Of course, not everyone can afford to knock down walls when preparing a home for sale.

If your budget doesn't allow for major remodels, do what you can to emphasize the flow between rooms. Removing doors in favor of open archways between common spaces, for example, can help.

3. Formal dining rooms

Some home trends are especially generational—and experts put formal dining rooms firmly in that category. Millennials as a group tend to favor flexible spaces, Blanco explains.

Photo by McCroskey Interiors
 

"A generation ago, formal dining rooms may have been on every buyer’s wish list," she says. "But today there really isn’t much appeal to the formal dining room. An open space that can easily transition from kitchen to TV room is high on the list of the perfect home for young buyers. We are seeing upticks in areas with bar stools and breakfast nooks instead."

Photo by Normandy Remodeling 
 

The fast fix: If your property has a formal dining room and you can't afford to change the layout, consider staging the space creatively to show how it could be used in a more modern, functional way. For instance, you could stage the space as a home office or entertainment room instead.

Looking to sell your home? Contact The McLeod Group Network to find out how much it's worth! 971.208.5093 or [email protected] 

 By: Realtor.com, Kayleigh Roberts

"Millennials aren’t looking for oak cabinets like we saw in the 20th century," she says. "They like more clean lines and cabinets with flat doors."

The fast fix: If your budget doesn't allow for tearing out dated cabinets, there's still hope. Consider other ways to update the kitchen, such as sanding and painting the existing cabinetry.

2. Closed floor plans

Blanco says the classic closed floor plan is a turnoff for most millennials, and suggests that sellers take whatever steps necessary to fix the issue.

How Does the Supply of Homes for Sale Impact Buyer Demand?

by Amy McLeod Group


The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S. states, buyer demand is now very strong; only 2 of the 50 states have a ‘weak’ demand. Overall, buyer demand is slightly lower than this time last year but remains strong.

Seller Supply 

The index also asked: “How would you rate seller traffic in your area?”

As the map below shows, 18 states reported ‘weak’ seller traffic, 29 states and Washington, D.C. reported ‘stable’ seller traffic, and 3 states reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are looking for homes.

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in our market now.

Contact The McLeod Group Network at 971.208.5093 or [email protected] for ALL your Real Estate needs! 

By: KCM Crew

Home Sales Expected to Continue Increasing In 2020

by Amy McLeod Group


Freddie Mac
Fannie Maeand the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020.

Below is a chart depicting the projections of each entity for 2019, as well as for 2020.

As we can see, Freddie MacFannie Mae, and the Mortgage Bankers Association all believe homes sales will increase steadily over the next year. If you’re a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

 

Contact The McLeod Group Network at 971.208.5093 or [email protected] for ALL your Real Estate needs!

 
By: KCM Crew

7 Important Home Repairs to Do Right After Moving Out

by Amy McLeod Group


Congratulations: You're moving out, and on to your next home! Now all you have to do is pack up your things and skedaddle, right?

Not so fast. If you're still trying to sell your current home, you'll want to make sure it looks its best, which means you might have to make a few repairs. And there's no better time to do this than after you've removed all your boxes and furnishings, since this means you've got plenty of space to get the job done right (and with minimal mess).

Granted, you might have already made some upgrades during the early stages of sales prep ... but moving out means you could uncover a whole lot more. And trust us, buyers will notice!

Of course, if you've already sold your home, you're off the hook ... but if not, it will behoove you to do these seven upgrades after moving out. Don't worry, they're fairly easy, and they'll make a big difference helping you find a buyer who'll pay top dollar.

1. Patch holes in walls

Seeing walls with holes—even small holes left by nails—is an immediate turnoff to home buyers, says Sarah Fishburne, director of trend and design at The Home Depot. But you don't have to repaint your entire house to have your home looking fresh again. A little spackling, followed by spot painting—a cinch if you've kept some original paint—will do the trick. (If you don't have any leftover paint, peel a dollar-size piece from the wall and bring it to the paint store so they can match the color for you.)

If you have only a few holes and scratches, you can fill them with spackling compound, which is sold in small quantifrecities. For a greater number of gashes or holes, use joint compound, which is sold in quarts or 5-gallon buckets.

2. Add a fresh coat of paint to rooms that are outdated or painted in loud colors

Love that plum paint color you chose for your master bedroom? Home buyers might not! The good news is, painting a room is an easy, low-cost project you can do yourself. Selecting the right hue, though, is crucial.

“Neutral colors are generally the safest choice, as they blend with many different decor styles,” says Hunter Macfarlane, Lowe’s project expert. “Gray is a popular color to paint a room before selling, as it gives the walls depth while still tying furniture and other decor items together.”

Moreover, “a fresh coat of paint never hurt resale value,” Fishburne says.

3. Replace old outlet wall plates

This is another quick and budget-friendly way to make a space feel cleaner and updated, Macfarlane says. Proceed with caution, however: Old wall plates can be a fire hazard if they’re cracked or damaged in any way. If you suspect there’s an issue, hire an electrician to replace the wall plates for you.

4. Clean carpeting

Dirty and dingy carpets are huge eyesores, which is why David Pekel, chief executive officer at the National Association of the Remodeling Industry, recommends that homeowners give their house’s carpeting a good cleaning after moving out. You can amp up your vacuum with rug-cleaning products such as powders, foam sprays, and liquid shampoos available at grocery and hardware stores. For stained areas, use a bristled brush to work the cleaning solution into the carpet before allowing it to dry and then vacuuming up.

To remove embedded dirt, you may need to use a powerful industrial-style carpet-cleaning machine, like a Rug Doctor, which sprays hot water with a detergent over the carpet and extracts it with a high-powered vacuum. Industrial carpet cleaners have more washing and sucking power than most consumer carpet cleaners, but they’re expensive to buy—about $400 to $700—so it's more economical to rent one from a hardware store for about $25 to $30 per day.

5. Clean hardwood floors

Many home buyers swoon over hardwood floors. So if you have them, make sure they're glistening after you move out.

“Wood is probably the easiest floor covering to keep clean, but you have to use the right cleaning products,” says Brett Miller, vice president of education and certification for the National Wood Flooring Association in St. Louis.

Most wood floor installers or manufacturers recommend cleaners that contain isopropyl alcohol, which dries quickly, and are available at home supply stores. To make your own solution, simply add a capful of white vinegar to a gallon of water, which will help dissolve grease and grime on the floor but won’t strip the finish. To remove shoe scuffs, rub marks with a tennis ball, which cleans without scratching the finish.

Under no circumstances should you use a steam mop, Miller warns.

“Steam is horrible for wood floors. It opens the pores in woods and damages the finish, causing irreversible damage to any wood floor,” he says. Here's more on how to clean hardwood floors.

6. Replace or refresh old hardware

Swapping out old cabinet and door hardware is a simple, low-cost project you can tackle in a day that will make your home more visually appealing. All you need is a screwdriver and a free afternoon. Want to save some money? Keep your existing hardware and give it a makeover with spray paint—a few light coats can breathe new life and personality into rusty old knobs and pulls.

7. Improve the look and functionality of your master bathroom

full bathroom remodel is expensive; on average, it costs $10,344, according to HomeAdvisor. Just a few changes to your master bathroom, though, can make it one of the most stylish rooms in your house.

Simple touch-ups, like regrouting and recaulking bathroom tile, will make the room look newer. In addition, swapping out inefficient toilets, faucets, and shower heads for products that aid in water conservation can add real appeal to prospective home buyers who are looking to lower their water footprint (and lower their water bill!). A low-flow toilet, for example, uses 20% less water than a standard toilet, and water-saving shower heads can help families save almost 3,000 gallons of water a year.

10 Secrets No One Tells You That'll Help Your House Fetch Top Dollar

by Amy McLeod Group


Maybe you’ve bought and sold a home before, or maybe this is the first time. Regardless, now you need to get top dollar for it. Yes, you can tidy up, bake some cookies so the house smells nice, and place fresh flowers (research says roses, lavender, and fuchsia most sway buyers) around the house. But these are the typical techniques most sellers deploy. Really want to get the best price possible—or even spark a bidding war?

Here are 10 tips that are seldom mentioned in listing houses that just might put your property over the edge.

 
 
 

1. Make sure your mailbox looks amazing

First impressions matter, which is why you should check out your curb appeal. Is the driveway cracked? Is the mailbox old and leaning? The best sales rest on keeping these details in mind.

“Replace the mailbox—literally the first thing people see,” says Teris Pantazes, CEO and co-founder of SettleRite, a pre-sale home improvement company in Baltimore.

2. Make the right use of your rooms

If you use the dining room for a kid's playroom, or if the loft is empty because you don't have a use for it, restage your rooms so they reflect their original purpose. Buyers want to see the space used in a traditional way—with a dining table in the dining room, a desk and chair in the office—to envision themselves living there.

3. Reglaze the bathroom


Bathrooms and kitchens sell houses, and any small improvement that makes those rooms more modern makes a huge difference.“The best tip I use to get top dollar for some of our houses is to reglaze an old bathroom that has a terrible color of tile—like pink or green,” says Michael Pinter, a house flipper in Long Island, NY, with LMPK Properties. "We reglaze the bathroom white for a few hundred dollars, and a dated bathroom will look 30 years younger."

4. Get buyers to fall in love

Russell Volk, a real estate agent with Re/Max Elite serving Bucks County, PA, worked with a home-selling couple who decided to hand-write a one-page letter about their life in the house.

“Their story of how they raised their family and what kind of experiences they had in the home was very personal and emotional,” says Volk. The letter was framed on the kitchen counter for potential buyers to read. One buyer who liked the home absolutely loved the sellers' story—and paid full asking price.

“If sellers can connect with buyers on an emotional level, chances of buyers paying top dollar for the house drastically increase," says Volk.

5. List under value

"Data shows that if you list a home 10% under market value, you will attract 75% of the buyer pool, versus only 30% if you were to list 10% over market value,” says Melissa Colabella, at Sotheby's International Realty. “Yet sellers fear that not leaving room to negotiate leaves money on the table, which is not true.”

In fact, buyers are often motivated to bid by seeing other bids on a property, a dynamic that typically pushes bids above market value.

6. Provide insider information

Make sure to include tidbits in the listing that buyers will appreciate and that they can only get from you: the mention of a popular neighborhood coffee shop, the best Mexican restaurant nearby, or the free library box around the corner. No one knows these details better than you, the homeowner.

7. Describe the neighborhood culture

Think of everything interesting you can about your neighborhood—its proximity to a community pool, street basketball games in the cul-de-sac, the number of dog walkers who gather to chat—and mention them in your listing. The smallest detail can attract a buyer with a teenager, a dog, and kids with swimsuits.

8. Don't forget to list the house extras

The motion-sensitive outdoor lighting, an automatic garage door timer that closes the door before dark, a phone-activated security system, or camera door bell... These bells and whistles may seem banal to you, but they can make sellers feel that everything’s been taken care of for them—and inspire a top-dollar offer.

9. Create a video tour

Most people get great photos and fantastic descriptions. But filming a video tour of the property is inexpensive, can be done by an amateur, and is a novelty that will draw in buyers, says Bryan Stoddard, owner of Homewares Insider, a site exploring all things related to the home.

“If the video is well made, it will showcase exactly the same things that an open house would," he says.

10. Get a home pre-inspection

Yes, the buyers will want their own home inspection, but getting a pre-inspection so that prospective buyers have a general idea of the property's condition before making an offer is a win/win, says Antonio Picillo III, a broker at Exceptional Home Team in Fort Wayne, IN.

Home buyers will be impressed you took the time and effort to get your home pre-inspected to make sure everything is tip-top. It shows a level of integrity and commitment that can be hard to find.

Thinking about selling your home? Contact The McLeod Group Network at 971.208.5093 or [email protected] to find out how much it is worth! 

By: Realtor.com, Jennifer Nelson

10 Home Upgrades That Attract Millennial Buyers

by Amy McLeod Group


Think millennials aren't in the market to buy a home? On the contrary, by early 2019, millennials represented 42% of all new home loans. What does this mean for home sellers? It means it's time to start revamping your house to attract these buyers!

Luckily, there are plenty of simple and relatively affordable upgrades homeowners can make that appeal to millennial buyers. We asked the experts to share some of their top tips for attracting these young buyers, so your home can sell in a jiffy.

1. A home office space

Photo by Elms Interior Design 
 

The remote work trend is on the rise for all groups, but especially among millennials. As a result, Kerron Stokes, a real estate agent with Re/Max Leaders in Colorado, suggests showcasing a home's live-work versatility by carving out space for a home office.
 

"More than 13 million Americans work from home, according to the most current U.S. Census data. And all signs point to that trend continuing," Stokes explains. "It doesn’t have to be big, but millennial buyers are looking for somewhere to go for a last-minute conference call or to get additional work done during the day."

Luckily, this is an easy fix for sellers. If you're looking to make your property more attractive to millennial buyers, consider staging one of the smaller bedrooms (or even a bonus space like a nook or alcove) as a home office. It's a small touch, but it will help your potential millennial buyers picture the space working with their lifestyle.

2. Smart tech

Yes, this one seems obvious: Of course millennials are drawn to smart home tech—but what type?

"Appliances such as smart thermostats, smart doorbells, and more that can be controlled from an app are all the rage," Stokes explains. "Connectivity is king when putting a house on the market these days."

Yuri Blanco, owner of Re/Max Executives in Idaho, adds that millennials also crave low-cost tech.

"They crave smart security systems that don’t require a monthly subscription," says Blanco. "Any new technology that comes at a low cost is a major bonus to this age group."

3. Energy-efficient appliances

Energy-efficient products are also hugely important (and a huge selling point) for millennial buyers.

"Millennials are choosing eco-friendly materials such as nontoxic paint, Energy Star appliances in and around the home," Blanco says.

4. A game room/gathering space

When it comes to staging, Blanco suggests highlighting how a space could be used as a gathering place for friends—something millennials actively consider when viewing homes.

"Millennials think about friends' needs, so they want big areas where everyone can gather for entertainment, whether this be a TV or a game room," Blanco explains.

5. USB outlets


 

According to Stokes, it's particularly important to install USB outlets in bedrooms, living rooms, and kitchens if you want to catch millennial buyers' eyes. Smartphones are a fact of life today, and showing that your home is ready to make life easier with accessible charging ports will impress younger buyers.

"I recommend sellers swap out standard outlets for the outlets that include USBs for charging," Stokes says. "Constantly being on a smartphone drains a lot of power. When your home offers a charging hub or outlet for people, especially in unconventional rooms like the kitchen, they are more likely to stop and take a second look."

6. Neutral colors

When it comes time to paint a property, opt for soft, light neutrals to appeal to millennials.

"Millennials favor neutral colors," Blanco says. "Particularly grays have gained wide appeal, along with more whitewashed gray variations, soft neutrals, and creams."

7. Modern design

When it comes to upgrading cabinets and other built-in features, experts say to opt for modern design elements if you're hoping to woo millennial shoppers.

"In recent years, we are seeing millennials prefer modern, sleek designs with clean lines and minimalist aesthetics," Blanco says. "To them, less is more. Homes that have new, stainless-steel kitchens, and simple cabinetry draw millennials in."

8. Outdoor living space

In addition to upgrades inside the home, Stokes recommends making sure that the backyard feels like an extension of the living space—something that's proving important to millennial buyers.

"Millennials have demonstrated a desire to personalize their homes, and large yards provide that opportunity," Stokes says. "Spaces designed to spend time with friends around fire pits, room for a garden, and room for pets to roam is desired. However, sellers should keep in mind that these areas shouldn’t require a lot of time and maintenance, as this is something that repels millennial buyers."

Amy Bonitatibus, chief marketing officer with Chase Home Lending, reiterates this point and adds that it's important to not forget the front yard as well.

"According to the recent Chase Housing Confidence Index, a survey which used data from the U.S. Housing Confidence Survey, millennial homeowners ranked landscaping first on their renovation wish list, ahead of bathroom and kitchen remodels," she says. "Everyone wants that Instagram-worthy curb appeal. Over 40% of young homeowners are looking to install new landscaping in the next few years."

9. Garage outlets

Millennials are also more likely than older buyers to extend that smart tech to the garage and try electric vehicles, which makes power outlets in the garage increasingly important to them.

"Having the option to power, from smart cars to toy batteries to an outdoor fridge, will instantly up your home’s appeal to millennials," Stokes says.

10. Storage space

Photo by Closets by Design Louisville 
 

Millennials aren't all about fashion over function, despite what some may (wrongly) assume. Blanco says that millennials are drawn to homes that have a lot of practical storage space.

"Millennials have a desire for storage," Blanco says. "If a home contains a multifunctional piece of furniture with storage options, even better. A home with plenty of built-in closets and drawers is more likely to be sold to buyers in this age group. Garages are also a notable place for increased storage."

Thinking about selling your home? Contact The McLeod Group Network at 971.208.5093 or [email protected].

By: Realtor.com, Kayleigh Roberts 

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The McLeod Group Network
Keller Williams Capital City
1900 Hines St SE #220
Salem OR 97302
971-208-5093
Fax: 971-599-5229

**Disclaimer: Amy McLeod, and her team, do not initiate, process, or service mortgages.  And provide this information only as a service.  You should confirm information here with your Licensed Mortgage Lender.