As per the National Association of Realtors' 2020 Home Buyers and Sellers Generational Trends Report, millennials comprised the largest group of home buyers at 25%. So, many sellers are prioritizing makeovers and upgrades to attract buyers, and the best way is to update or upgrade your home with trendy ideas.
Here are some budget-friendly upgrades to consider that can make your older homes more appealing to younger buyers.
6 Ways to Make Your Older Homes Appeal to Young Buyers
Updated Open Kitchen
You don't have to revamp your kitchen completely. Instead, you can simply update it, which will do wonders in attracting younger families. Nowadays, people want to invest in homes with open kitchens, so that they can keep an eye on their children while cooking. You can consider replacing old appliances with energy-efficiency ones and add new drawers, cabinet handles, etc, to update the look of the kitchen.
Stage Bedrooms for Kids
If you have an extra bedroom, set it up for kids. You can either choose a gender-specific or gender-neutral theme to make the room more appealing. Let the decoration be simple, for example, add a few pictures, artwork, etc. This will help the buyer imagine setting up the room for their children.
Outdoor Living Rooms
Everybody loves an outdoor living room, which can be an extension of an indoor space. Patios, decks, porches, etc., are most preferred because they allow you to relax, entertain, and enjoy the fresh outdoor air on a beautiful evening. You can also consider decorating them, making it perfect for family gatherings and weekend barbeques.
Update Home Fixtures
If you are on a tight budget, consider updating your home fixtures. They are available in different styles and finishes, which can instantly change the tone of the space while highlighting focal points. In addition to changing or updating the light fixtures, consider updating bath and kitchen fixtures.
Add Low-Maintenance Features
Young families/buyers prefer low-maintenance features. So, consider renovating your home a bit to attract them. For example, use hardwood floors instead of carpets. Also, opt for granite or stone countertops, as they are known for their minimal maintenance requirements and attractive appearance.
Spruce Up Your Space With Paint
Younger buyers are mostly attracted to modern color palettes, mostly warm grays. A growing trend in home decor and interior design involves getting rid of the standard white trim and molding and opting for bold colors for these features. You can consider using black or other bold colors for trim to make it look more stylish and edgy, while keeping the wall neutral with soft beige, light gray, etc.
Outstanding Online Listing
The younger generation usually looks for homes online. Hence, your online listing must be highly impressive. Upload clear pictures, along with listing the features that highlight your home's best features.
Are Upgrades Worth It?
Renovating and upgrading your home not only makes it appealing, but it also increases its market value. For example, if you invest $1,000 and increase your home value by $10,000, the efforts and the investment made are totally worth it. However, it is not advisable to spend $10,000 on upgrades that do not add value to your home.
So, how do you determine which improvements truly pay off? Well, the answer depends on factors such as labor cost, materials, and the ever-changing real estate market.
Is Investing in Solar Power Storage Solutions for Older Homes Worth It?
Older homes are mostly inefficient. So, when you're considering selling your older home, consider upgrading with a solar power solution. While solar panels can reduce your monthly utility bill, battery storage can help you save even further. It is the best alternative to grid-supplied power when there is a power outage.
Integrating your battery system with the grid can offer additional financial benefits through local incentive programs. You may receive credits on your utility bill for sending stored solar energy back to the grid. Also, with a growing number of energy-sharing initiatives across the US, specifically targeting solar battery owners, offering payment for supplying power to the grid during high-demand periods.
Solar power storage can be a great financial investment and also boost your home's value, which can attract younger buyers.
How Boosting Bathroom Appeal Can Attract Young Buyers?
Millennials love a well-crafted and visually appealing bathroom. The bathroom can also sway the buyer's decision. It may seem like a small thing, but it can persuade the buyer to buy the house. When you upgrade your bathroom, you add new features and minimalist design, and that's what younger buyers love. Hence, you can expect a substantial ROI (return on investment) when you sell the house.
