We usually associate luxury real estate with the baby boomer generation, but there’s a huge opportunity with millennials. This younger generation makes up about one-third of the population and the interest to purchase continues to grow. Luxury doesn’t necessarily mean “large” homes to them; it means functional, creative spaces. Additionally, millennials are knowledgeable when it comes to investing real estate. They are constantly looking for ways to grow their personal wealth without the risk of engaging in the stock market.
Millennials are now getting to the point where they’re settling down and considering big-ticket purchases, the main one being a home. According to Bloomberg Business, by about 2020, they will represent the majority of the workforce with an annual spending of $400 billion, and even though they seem to still value the idea of home ownership, don’t go ahead and assume they will go about it the same way their parents did.
This generation grew up right in the middle of the perfect storm that was the Great Recession. Because of this, they seem to be more careful with their spending decisions, especially incredibly large ones. With a somewhat cautious mindset as a result of stagnant wages, rampant unemployment and lingering memories of the housing crisis, Millennials seem to be opting for rentals over home ownership at the moment.
Looking to sell your house? Here’s a list of 15 low-cost improvements that will have all your viewers swooning!
1.) Pay attention to landscaping. Good curb appeal can go a long way to lure in potential buyers.
2.) Have a beautiful porch? Make sure it’s well kept. Eliminate all the unnecessary objects that don’t add value.
3.) Mow the lawn.
4.) Touch up old paint. You want both the inside and outside of the house to look clean and kept up.
5.) Thoroughly wash down all windows and doors.
6.) Clean the countertops in the kitchen and bathroom.
7.) Make all the beds. This should be obvious.
Incorporating more energy efficient practices and products into your home can dramatically help reduce your energy bills, benefiting both your wallet and the environment. Here are some ways to get started!