The generational divide has officially hit the real estate market
As baby boomers look forward to downsizing and simplifying their lives, millennials are gearing up to purchase their first starter homes. The only problem? Younger homeowners think baby-boomer houses are too big.
According to Business Insider, millennials aren’t interested in buying the large, five- or six-bedroom McMansion homes their predecessors built 15 or so years ago when ornate crown molding, damask prints, and sleigh beds were all the rage.
“Tastes—and access to credit—have shifted dramatically since the early 2000s,” reports Candace Taylor of the Wall Street Journal. “These days, buyers of all ages eschew the large, ornate houses built in those years in favor of smaller, more modern-looking alternatives and prefer walkable areas to living miles from retail.”
So what types of features are on the millennial’s must-have list? Clean lines, open-concept floor plans, streamlined appliances, and efficient storage are the big winners. In the wake of minimalism and Scandinavian simplicity, younger generations have adopted a less-is-more approach to real estate, and while they certainly aren’t averse to gut renovations, they’ll avoid outdated interiors, plumbing, and electrical problems if they can.
So if you're getting ready to sell, it might be time to pull out some white paint, pick out some modern tile, and install some simplistic canbinetry.
For tips on how to get your home ready to sell, contact us.
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