Are You Selling Your Home To A Millennial Or Empty Nester?
2013 has been a great year for home sales in Orange County and as we move into the fall months many homeowners who are planning on selling their homes are encountering interest in their homes from empty-nesters (parents whose children have grown and moved out of their house) and Millennials (people born after 1982), but few homebuyers know what to expect from either group of home buyers since each group has different needs and expectations.
Get To Know Millennials
Millennials are home buyers who, over recent years, may have gone back to living with their parents, family members or friends recently in order to save up money for down payment on a home and they also may be getting home loans like CHFA or FHA loans.
One thing to remember if a millennial shows up at your open house with their parents or relative is that you should pay as much attention to the third party as you should to the millennial. That’s because the parent or relative may be the one who will be loaning the millennial the down payment money to obtain the loan for purchasing your home.
It’s also important to remember that when your Realtor lists your home, the listing should highlight all of the technological advances that your home has like: wiring for audio, visual, internet and plenty of space to work from home since most Millennials are technologically “savvy” and are looking for the perfect home that will fit their lifestyle.
What Are Empty Nesters Looking For?
When it comes to empty nesters, this home buying group is very different than Millennials. They’ve already raised their children and aren’t interested in the same things that young families might be interested in like living close to a good school district.
Specifically, empty nesters are looking for homes that offer them many multi-purposes. For example: a bedroom that has plenty of space for a home office, a living space that can also be used for a game room or a garage with plenty of space for a shop.
When marketing a home to empty nesters it’s also important to remember that as empty nesters age, they might not have the same physical abilities as they did when they were younger. Therefore, it’s also important to promote attractions that are easily accessible so they can go places without having to drive or rely on others.
Last of all, but most important, it’s important to remember that empty nesters are searching for quality in a home. If your home has fine craftsman details, or features that you’re proud of, you shouldn’t hesitate to promote those features to empty nesters because, with their kids gone, empty nesters are also interested in homes that have details which reflect their personality and tastes at this stage in their lives.
To learn more tips about what to expect with Millennials or empty-nester home buyers, or to view the latest Orange County homes for sale, contact Fred Sed & Associates today by calling us for a free Real Estate consultation at (949) 272-0125.