Data confirms there are a lot of myths about millennials floating around the real estate industry. Don\u2019t let these stubborn rumors mess up your selling chances.<\/p>\n The perk of renting is not having to do your own maintenance, but maintenance and remodeling projects aren\u2019t necessarily a big deterrent for millennial buyers. The myth that millennials only want homes that are finished is misdirected and simply more complicated.<\/p>\n In fact, affordability is a top challenge<\/a> for millennials, according to a survey published by Freddie Mac. Though millennials are now the top segment of homebuyers, they\u2019re still dealing with a unique-to-them set of financial challenges like student loan debt and stagnant wages, while the cost of living and housing remain high.<\/p>\n Interest rates may be low right now, but saving up for that down payment has been much harder than generations past. Business Insider reports that today\u2019s average home is priced more than 70% higher than a house in the 1960s,<\/a> adjusted for inflation.<\/p>\n 59% of millennials are Instagram users<\/a> (who doesn\u2019t love a good filtered sunset?), so sure… they like pretty things. But while it may be true that millennials are attracted to move-in ready homes with great staging, they\u2019re also willing to give up some bells and whistles (and forgo some weekends for house projects) if they can find an affordable place they can update as they want.<\/p>\n If you\u2019re planning some updates for your home pre-sale, opt for practical updates rather than luxury renovations to appeal to millennial buyers.<\/p>\n According to HomeAdvisor\u2019s True Cost Report, millennials are more likely than other generations<\/a> to do projects for the sake of ROI, and the National Association of Home Builders<\/a> says 4 out of 5 millennials want these three upgrades<\/a>:<\/p>\n In generations prior, affordable housing was abundant<\/a>, according to Shelterforce\u2019s review of Randy Shaw\u2019s book \u201cGeneration Priced Out.\u201d City center and urban hubs were populated by Americans of every income level. Today cities have different building rules for developers, changing zoning practices and fewer requirements for the volume of affordable housing that must be available, all of which make urban living less and less affordable for millennials.<\/p>\n According to the above mentioned 2019 NAR survey, older millennials were the second most likely generation to purchase in the suburbs<\/a> or a subdivision at 53%, and are largely the catalyst for the urban-to-suburban trend,<\/a> according to a 2018 report by Metropolitan Policy Program at Brookings.<\/p>\n Millennials value accessibility, but living \u201cdowntown\u201d is different than having walkable access to a local coffee shop and library. Millennials are increasingly attracted to the suburbs as they seek an escape to city stresses, the alleviation of city prices, and a place to settle down or raise kids.<\/p>\n Highlight family-friendly home features and neighborhood qualities. HomeLight suggests featuring assets<\/a> like the school district, location on a quiet street or cul-de-sac, proximity to shopping or hiking trails, smart home features and storage space.<\/p>\n Amy Glassman, attorney and author, says in order to avoid Fair Housing Act violations, agents and home-sellers should focus on the home\u2019s features rather than the type of buyer you want. For example, say \u201cright next to West Market Park\u201d instead of \u201cgreat for families raising kids,\u201d to avoid the assumption you favor or prefer buyers with children.<\/p>\n Graduating from high school or college at the height of the recession, millennials have built their careers and lives among an economy of stagnant wages while saddled with student debt. This rough start in the working world has largely shaped how the generation views their happiness, work-life balance, and what priorities are most important to them \u2014 like the environment or social issues and family \u2014 for example.<\/p>\n Millennials have worked hard to dig themselves out of a pretty difficult situation. Goldman Sachs\u2019 Millennials Coming of Age<\/a> report says: \u201cMillennials have come of age during a time of technological change, globalization and economic disruption. That\u2019s given them a different set of behaviors and experiences than their parents.\u201d<\/p>\n Tammy Rice<\/a>, a top-selling real estate agent in Tulsa, Oklahoma<\/a>, says the biggest myth about dealing with millennials is that they\u2019re know-it-alls. \u201cThey\u2019ve very well informed buyers. They\u2019re willing to do the legwork\u2026 and they know what they want\u201d she says.<\/p>\n Since millennials are busy juggling work and home life, they value whatever makes their lives more efficient and convenient and allows them to spend more time with family, all while reflecting their passions and priorities.<\/p>\n Highlight accessibility to public transportation and freeways, as millennials may want to avoid a long commute. If you\u2019re planning to make some tech updates to your home, opt for environment- and energy-conscious options.<\/p>\n Millennials, like every generation, have been stereotyped to no end, and their housing style is no exception. The perception is that millennials all like mid-century modern design, fluffy sheepskin rugs and succulents. They love to decorate with mason jars and letter boards and IKEA furniture and irreverent wall art.<\/p>\n Liking these styles may be true for many millennials but assuming or pigeon-holing them isn\u2019t a good strategy; it\u2019s pandering at its worst. Really, this generation\u2019s style is all about self-expression. (Just look at tattoo culture for comparison. About 47% of millennials have a tattoo, compared to just 13% of baby boomers, according to a 2015 Harris Poll.<\/a><\/p>\n Instead of trendy statements, opt for minimalist and clean. Keep your staging simple so you don\u2019t overdo your appeal to millennials and lose everyone else with your kitchy brass accents.<\/p>\n Cater to self-expression rather than stereotype \u201cmillennial design.\u201d Not only can the stereotype turn off millennials but you\u2019ll also miss out on impressing all the other generations who might be interested in your home.<\/p>\n Rice recommends neutral colors because many people, including millennials \u201cwant to personalize a space but not redo it.\u201d Neutral colors allow them to visualize this.<\/p>\n Raised on social media and texting, millennials are the \u201cthere\u2019s an app for that\u201d generation. Their lives often revolve around their phone \u2014 from calendar and email, to travel arrangements and health and lifestyle tracking, it\u2019s all on that 3 by 4 inch touch screen.<\/p>\n But millennials aren\u2019t so buried or dedicated to tech they won\u2019t use real human resources. Millennials deal with the same scams on Craigslist and the same frustration with filters on real estate sites as other generations, which means they can appreciate the expertise of a good agent!<\/p>\n Their process of looking at houses is just a little different, explains Rice. She says millennials are weeding out houses online rather than requiring a drive-by. This makes staging and good photos critically important for home sellers. \u201cThey\u2019re screening online and researching ahead,\u201d she says, but tech isn\u2019t replacing agents. It\u2019s simply changing the house-hunting process and making it more efficient for them.<\/p>\n Partner with an agent who knows what local buyers want. Agents have the experience to make a strong, persuasive presentation of your home to those looking in your area, and that may include a lot of home-shopping millennials.<\/p>\n![\"a](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/10\/tips-for-selling-a-home-to-millennials-house.jpg\")
<\/a>Myth: Millennials only want turnkey homes<\/a>.<\/h2>\n
Tip #1: Think budget-friendly updates<\/b>
\n<\/b><\/h3>\n\n
\nIt may be a closet or a mudroom \u2014 either way, make it functional with baskets and shelves for detergent and dryer sheets.<\/li>\n
\nEnjoy the great outdoors, or at least make it look like you do with a firepit and patio furniture. Having a space to entertain guests<\/a> is appealing to millennial buyers and can be done inexpensively.<\/li>\n
\nWhether you opt for a few cabinets or take a trip to your local Costco<\/a> and check out their options (and grab some free samples), garage storage is practical as well as aesthetically pleasing.<\/li>\n<\/ul>\n![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/10\/tips-for-selling-a-home-to-millennials-brooklyn.jpg\")
<\/a>Myth: Millennials want to live in trendy urban areas.<\/h2>\n
Tip #2: Play up the suburban life<\/h3>\n
![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/10\/tips-for-selling-a-home-to-millennials-kitchen.jpg\")
<\/a>Myth: Millennials are entitled know-it-alls and have ridiculous expectations.<\/h2>\n
Tip #3:<\/b> Make energy-efficient improvements<\/b>
\n<\/b><\/h3>\n\n
\nEnergy.gov makes suggestions about how and where to add insulation<\/a> to an existing house. If you\u2019re not sure where your house needs it, consider getting an energy audit for a local heating and cooling expert.<\/li>\n
\nThis project provides a 70%-73% return on investment<\/a> according to Remodeling.com\u2019s Cost vs. Value Report for 2019.<\/li>\n
\nThe EcoBee was voted best smart thermostat by CNET and can save users 23% annually on heating and cooling costs<\/a>.<\/li>\n<\/ul>\n![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/10\/tips-for-selling-a-home-to-millennials-living-room-1.jpg\")
<\/a>Myth: Millennials want modern decor or big statement styles.<\/h2>\n
Tip #4: Keep your staging neutral<\/b><\/h3>\n
\n
![\"Tech](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/10\/tips-for-selling-a-house-to-millennials-tech.jpg\")
<\/a>Myth: Millennials are all about tech so they don\u2019t need agents.<\/h2>\n
Tip #5: Hire an agent with deep local knowledge<\/b><\/h3>\n