How Millennials Buyers are Different Than Baby Boomers
Different segments of homebuyers may have different needs. Identifying these differences can help you position your home to attract different kinds of homebuyers. Be sure to highlight these features that may make your home more appealing to different groups of homebuyers.
When selling your home, it’s important to think about your prospective buyers and how you should market differently to each group. Even if you think your home would be better suited for a baby boomer or retiree, you might be surprised to find out your home could be attractive to a single Millennial. Here’s how your Millennial marketing plan might need to be updated.
Highlight Certain Features
Millennials are looking for features that are a little different than baby boomers. For instance, they are looking for:
- Open floor plans
- Ranch style homes
- Media rooms
- Hardwood or tile floors
Where as baby boomers might be looking things like:
- Two-car garages
- Storage
- Large kitchens
If you have these types of features in your home, you should be sure to play them up in your marketing for each group.
Location, Location, Location
Your neighborhood is also really important because Millennials care about convenience. They are looking for a location that offers them easy access to everything and many times location will be the determining factor in a buying decision.
Market Differently
Millenials are heavy online users. When building your marketing plan, think about using social media, websites and mobile technology to reach this audience. Baby boomers are increasingly online, but may be able to be reached in more traditional ways. For instance, word-of-mouth, relationships and newspaper advertising might be a way to target this group.
Be intentional about creating a marketing plan that targets these two very different groups and you will have the best shot at getting these groups interested in your home.
If you’re ready to sell or purchase a home, check out the Union Plus Real Estate Rewards program. You could get $500 for every $100,000 in home value if you use a real estate agent approved by SIRVA.*
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