Today’s first-time home buyers are a unique bunch. They are typically millennials, budget-conscious, and looking for smaller and less expensive homes. Many have been renting for a long time — longer than they wanted to — and when they get to the home buying stage, they’re excited and ready to go.
Here are four key things that today’s first-time home buyers are looking for.
Great photos: Millennials do most things online, including shopping for a home. To attract first-time home buyers, your listing needs to include a good number of high-quality photos. Before bringing in a photographer, consider completing cosmetic upgrades to improve the home’s aesthetic.
Small spaces: These days, first-time buyers tend to be OK with less square footage, as long as the home feels functional and flexible. Staging a smaller home with multi-use items, such as a fold-out bed and hideaway storage, can create a sense of efficiency and potential.
Be nice: For first-time buyers, the home buying process often feels very personal. Overly aggressive or dishonest tactics are likely to drive them off. On the other hand, simple gestures like being flexible during showings are a reliable way to generate good will and soothe nerves.
Eco-friendly features: Energy-efficient appliances, smart thermostats and solar panels tend to appeal to millennial first-time buyers. They’re savvy to the cost savings these technologies bring, and tend to be drawn to them as an easy way to reduce their overall carbon footprint.