How can home sellers appeal to a younger generation of buyers? In today's economy, this demographic has been notoriously stingy when it comes to real estate, as many people would rather devote funds to student loans and other costs.
However, that trend appears to be shifting slightly. Therefore, home sellers may soon get more young adults checking out their property, with a unique set of preferences and desires. Before listing any house, owners should have a home inspection done to help alleviate any concerns about structural integrity and repair costs.
Young males, females differ on opinions
Even though the number of younger buyers is on the way up, men and women have different opinions when it comes to real estate, according to Redfin. For instance, more than 85 percent of female buyers younger than 35 wanted a long-term residence, while only 73.8 percent of male buyers agreed.
In addition, men and women have different preferences when it comes to location, Redfin reported. A slight majority of women want to live in the suburbs, while only 47.2 percent of men share the same sentiment. On the contrary, more men than women want to live in the city.
Home amenities are also a point of debate for younger homebuyers. Based on the Redfin data, good schools and proximity to work are both priorities. However, women want access to public transportation and a house that will hold value for a long period of time. Men want restaurants, entertainment and affordability.
Help a home appeal to young buyers
Given the many unique preferences for younger homebuyers, sellers should make sure their properties appeal to this demographic. A property inspection could identify problem areas worth fixing, and ensure that all improvements were completed correctly.
Many young adults are afraid to commit to a house with a lot of costly repairs, according to Bankrate.com. Therefore, sellers can reduce their worries with some smart improvements ahead of time.
"I always recommend paying for a home inspection, especially if the owners are elderly and have not had the money or energy to keep the house in good repair," Georgia-based Realtor Lane Tharp told the news source. "An inspection will help determine if there's anything that absolutely must be done before putting the house on the market."
With this step completed, sellers will have a report to give to potential buyers. If young people are concerned about the financial implications, a clean inspection could go a long way to assure them that they are making the right decision.