- Sell to millennials
- Update the home to appeal to the market
- Hire a professional real estate photographer
- Price the property well
- Work with a real estate agent
Millennials will still be the top home buyers in 2019. The National Association of REALTORS Home Buyer and Seller Generational Trends reports that in 2018 alone, around 30% of millennials bought a home priced at $300,000 and above. This number is expected to increase this coming year.
According to Nationwide Mortgages, majority of this group will be entering the housing market over the course of five years. Figures show that millennials have taken up 45% of mortgages, making this group the largest group of home buyers in 2019. That’s why it’s crucial to cater to this particular home buying group when selling one’s home.
Knowing who the top market is, it would be best to update one’s home to appeal to millennials. Millennials generally look out for properties with enough space to entertain and connect with family and friends.
Other popular features that millennials desire include storage space, laundry rooms, outdoor living, and pet amenities. Even small touches such as replacing faucets, knobs, and wall outlet plates can make a huge difference.
One way for a home to get the most attention in the market out is to have high-quality listing photos. A 2019 real estate forecast by Forbes states that more homes may be entering the real estate market this 2019. That means more competition. Then again, well-taken photographs of one’s property can make it stand out among the rest once buyers see these in online listings or through their phones.
That’s why hiring a professional real estate photographer is an important home selling move. These professionals know how to work the lighting and angles to highlight the best features of one’s home.
Pricing a property right makes all the difference in 2019 and beyond. Home buyers, especially millennials, may be a little more hesitant to let go of their well-earned money this year. But once millennials see a good buy through a well-priced home, they will consider purchasing it.
For one to set a realistic sales price for their home, research should be done on the current and local market conditions and trends. Check out the comparable sales or “comps” in the neighborhood as well.
Nothing beats working with a full-service real estate agent with the necessary skills, knowledge, and experience in the real estate industry. Make sure to carefully assess and interview a potential agent before deciding to work with them. Ask them questions regarding their home selling experience, price range, and their plans on marketing the property
Ensure home selling success with the help of Pagnotta Homes, a highly experienced real estate team in Central New Jersey. Feel free to contact the team today at 908.436.7947 or send an email to info(at)pagnottahome(dotted)com.