Millennial home buying trends have become a hot topic in luxury real estate. Millennials include anyone born between 1981 and 1996, and they’re quickly becoming a dominating force in real estate. In 2018, millennials represented the largest cohort of home buyers at 37 percent, according to the National Association of Realtors’ 2019 Home Buyers and Sellers Generational Trends Report.
This group now outnumbers baby boomers, and what they’re looking for in a home is drastically different than what their parents wanted when they entered the market.
Now more than ever, luxury buyers are viewing time as a luxury. How does that translate?
Homes need to be move-in ready. It’s not just about the money. The time it takes to renovate is too “expensive” in terms of what it takes away from quality of life.
So how do you transition a traditional home with stately architecture to attract a modern millennial buyer? My LIVE broadcast guest, Christina Henck, owner of award winning Henck Design shared some valuable tips and insights:
When we talk about “less is more” it relates to a key design element we artists called “negative space” – that’s the “blank” or “empty” space on a canvas surrounding an image, or the space between and around elements of a sculpture. The negative space is as important in design as the “positive” space (image, element – or in this case furniture).
Check out the clean design and flow created in the “negative space” in this luxury home.
The “negative space” creates a visual flow as well as a physical flow for walk through traffic on home buyer tours as well as videos.
Both are important elements of creating the kind of “sizzle” you want to drive buyers to take action!
Let’s talk! Please book a private consult on my calendar, and we’ll look at your home through FaceTime or Zoom and discuss ideas to maximize the market appeal for today’s buyers.