5 tips for selling your home to a millennial
PUBLISHED 12 MAR 2021
Millennials have taken their share of criticism from older generations, with their carefree career choices, refusal to conform to older norms, and famous love of smashed avo toast drawing ridicule from older generations.
Fast forward to today, and millennials also happen to be one of the most important groups of homeowners in the market - and knowing how to market your property to this age group is becoming increasingly important.
Here are five strategies to bear in mind when dealing with property buyers under 40.
1. Don’t underestimate millennial purchasing power
One of the biggest misconceptions about this age demographic - that they reject the idea of work and don’t plan to do any - has melted away in recent years.
After a few years of self-discovery, blogging from exotic locations, and exploring the world, millennials are settling into industries where their digital skills are in high demand.
Economic sectors like digital marketing, fintech, and ecommerce are brimming with millennials - and these industries have weathered the COVID crisis especially well.
From a property point of view, Cape Town’s reputation as Africa’s tech hub means that millennial buyers with abundant income and creditworthiness are increasingly entering the market. Here are some of the attributes that they tend to look for in a home.
2. Know what millennials want out of life - and out of their living spaces
Simplicity, on-trend living, and flexibility are extremely important to millennials - but that doesn’t mean they only want to live in the trendiest urban areas.
As people in their thirties start families, they are looking to the traditional Cape Town suburbs for homes with space and potential for renovation.
3. Give them a convenient location
Even in the age of remote working, proximity to good schools, beautiful parks, and entertainment areas is a major selling point
4. Appeal to their sense of design
Millennials love to put their personal stamp on all aspects of their lives. A home with open spaces and neutral interior colours will give them the canvas they need to express themselves
5. Offer them great value
While this age group has excellent long-term earning power they may not yet be in a position to afford a multi-million Rand property.
A Cape Town home in an up and coming area with great future potential may be ideal for this demographic.
We’re ready and waiting to help you market your home
If you’re in the market to sell your residential property, we’d love to hear from you. To find out how our team of experienced agents can help you market your home for a successful sale, contact us today.
Image Credit: https://pixabay.com/photos/buildings-city-rooftop-edge-2569493/