Millennials are making their mark on the real estate market. According to a 2015 National Association of Realtors study, Generation X and millennials (also known as Generation Y) are putting down roots and purchasing the largest volume of U.S. homes. Among buyers of all generations, the majority (32%) belong to the millennial generation, those age 34 and younger.
Combined, these two generations of young buyers have some very specific must-haves on their wish list for a home. If you are considering making home renovations, keep the following points in mind when deciding which improvements will most increase its value. Real estate agents say younger buyers are consistently drawn to these popular features.
The kitchen is still king. You can’t go wrong by spending design dollars in the kitchen. Large kitchens, preferably with an island, that open to the main family living area top the list of ideal home features for millennials. Stainless steel appliances and natural stone or engineered countertops are also coveted features.
Strive for an open floor plan. Formal dining rooms don’t hold much appeal for younger buyers, who are looking for open space that can easily transition from kitchen to TV room for entertaining. And because many younger buyers work from home, they prize dedicated space for a home office. Finishing a basement is an inexpensive way to add more flexible space to a home.
Bank on efficiency. With energy costs on the rise and more younger buyers conscious of protecting the environment, a home’s energy efficiency is a definite selling point. In a 2015 survey by the National Association of Home Builders, “energy-efficient” was second only to “safe community” on the list of attributes that would most influence a purchase decision. Energy-efficient ENERGY STAR®-certified windows with Low-E glass add value to any home.
Go low-maintenance and hassle-free. Younger buyers don’t want to spend their weekends cleaning and maintaining finishes. They prefer the low maintenance of vinyl windows, hardwood floors and solid countertops that are both attractive and easy to care for.
Add Value with Sunrise®
Whether you plan to sell your home or stay in it for many years, energy-efficient Sunrise® windows and patio doors can be a great investment. Explore the possibilities with our Visualizer tool, or contact an authorized Sunrise dealer near you.