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Old 03-21-2017, 01:01 PM
 
1,246 posts, read 1,632,269 times
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I too always thought that part of buying a personal residence is about making it "your own" - not an HGTV vision of what is trendy. That is one of the reasons we sold the last one without a realtor - some of their suggestions were over the top and supposedly geared to younger buyers. It sold to a young family in one day with little more than fresh paint and some new doors. Maybe one has to do more if in a not so desirable location. DD, 33 and her DH bought their first house four years ago and luckily they heeded my advice - location trumps all. They are very fortunate they did as their frumpy little 60s house has gone way up in value in that short time.
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Old 03-21-2017, 01:08 PM
 
Location: Tennessee
20,993 posts, read 15,296,258 times
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Where I am, most of the housing stock is pretty plain and suburban. Cities are small so there isn't a lot of "urban living," which is generally seen as lower income and less desirable, with some exceptions.
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Old 03-21-2017, 02:51 PM
 
572 posts, read 378,900 times
Reputation: 348
As a millennial couple (with a kid then on the way) we bought a house in the suburbs, after city renting/ living for over a decade.

Here is what was important:
Top Schools
Commute time (including access to transit)
Neighborhood
#BR/BA
Price

Stuff that didn't matter:
Finishes
Landscaping
Anything aesthetic that can be fixed

Dealbreakers:
Too small a house
Not enough BR
No ability to add on or do work later on


We bought in a great neighborhood, where nearby houses routinely sell for 3 times what we paid. We put money into the house, and will continue to do so. Unless things change, we'll build equity in a good neighborhood, and have a decent house, on a great block.

I think that is what millennials want, just what anyone else does -- the best they can afford, in a way that will make sense as an investment.
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Old 03-21-2017, 02:58 PM
 
1,161 posts, read 1,296,604 times
Reputation: 1207
Quote:
Originally Posted by Piney Creek View Post
LOL look at me sounding like an old geezer. Next I'll be saying "and we used to walk to school. Uphill. Both ways."
You forgot "barefoot" !
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Old 03-21-2017, 04:40 PM
 
Location: Saint John, IN
10,638 posts, read 3,319,645 times
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Quote:
Originally Posted by reneeh63 View Post
I thought all Millennials were unemployed with huge student loans and living with their parents? So yeah, why market to them if they have no money to spend. So, believe what you will, but marketers go where the money is.

We sold our home last year in the Chicagoland area. The Millennials in our market that were looking for homes was a small percentage. Most wanted to stay renting. My realtor brought in a stager to help with placement of furniture, etc, but never once told us to make BIG changes such as getting new carpeting or painting certain colors to appeal to a certain age group. I could see painting a neutral color, but to keep up with fads is ridiculous. I also wouldn't pour a bunch of money into a home I was selling just to sell it. Especially if you're not going to see the return. Maybe clean the carpet or offer an allowance towards to carpet if it's that poor, but replacing carpet is a little extreme in my opinion.
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Old 03-21-2017, 04:58 PM
 
Location: Salem, OR
13,745 posts, read 31,570,576 times
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Quote:
Originally Posted by CGab View Post
Maybe clean the carpet or offer an allowance towards to carpet if it's that poor, but replacing carpet is a little extreme in my opinion.
If someone has pink or purple carpet it is a huge negative or if the carpet is really stained/old. Not everyone has the cash to replace flooring after saving for their downpayment, etc.
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Old 03-21-2017, 06:02 PM
 
491 posts, read 231,194 times
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I honestly don't think it matters to anyone of any group. People are looking at price and the area. You don't need to make any of these enhancements. You don't know what the buyer's tastes are. Not only that, but it's really not like it will raise the value of the homes all that much. People will buy a completely rundown place, as long as the price is competitive. I don't think these little changes matter. Somebody either likes the location and will buy it or they don't. As long as the house is clean and everything works as it should, then that's all it takes. Also, the people who are buying houses have the money and want to spend the money. If they like the location and the area, they'll buy the house.
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Old 03-21-2017, 06:26 PM
 
Location: NJ
294 posts, read 263,018 times
Reputation: 329
Quote:
Originally Posted by cjs123 View Post
You forgot "barefoot" !
In two feet of snow.
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Old 03-21-2017, 11:53 PM
 
630 posts, read 319,241 times
Reputation: 2751
Quote:
Originally Posted by Piney Creek View Post
Our listing realtor thinks we will be in for an unhappy surprise and is really pushing for us to do more. Not going to happen until we see how things go.
This sounds like lazy agent speak for "I don't want to work that hard to market your house when your investment in superficial updates could do the work for me and I could collect my commission that much faster."

In a hot market, a decently maintained house in the right price range should sell quickly regardless of surface finishes. I'm not a millennial, but I've bought and sold enough properties to know that there are a wide variety of buyers for every market. If you try to appeal only to the HGTV crowd, you'll turn off other buyers who will see your new surfaces as expensive unwanted upgrades they won't want to pay a premium for.

I would be questioning the age and experience of your listing agent, not of your buyer pool. If this is your agent's attitude, maybe you should find another agent because they may not be motivated to market your house properly. None of the proposed changes are a good investment on a house that's going to be put on the market because you'll never recoup your investment. I would clean and maybe paint the interior, but only if the paint looks worn or is an odd color. If you already have neutral paint tones, then just deep clean, declutter to within an inch of your life and put it on the market as is.
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Old 03-22-2017, 05:10 AM
 
Location: Southwestern OH
247 posts, read 161,578 times
Reputation: 503
As what I like to think of as "borderline Millennials" (35 and 34), my husband and I have never been overly picky about cosmetics as long as the price was right. If your condo is priced the same as others that are more updated, that's where I see an issue. We're not the type to see a place with worn carpet, wallpaper, and mirrored walls and think, "I'm going to pay top dollar for that!" I think that only happens during the bubbles, and if we want to go into stereotypes Gen Xers and Boomers were the big house buyers during the last one.

If I'm going to pay "top dollar", I want to walk in, paint some walls to my taste, maybe paint kitchen and bathroom cabinets if they're white (yuck), and be done. If I have to pay to replace old/strangely colored carpet, $5K is coming off my offer price at least (depending on how big the place is). If I have to replace worn linoleum (yuck) with tile, probably $2K there. If the bathroom toilets and tubs are odd colors (blue?! yellow?!), $3K per bathroom because the tile will probably also need changed. If the roof looks like it has less than five years of life left, $10K. Wallpaper that will need to come down, my offer will be $2K less. A lot that's all hill? We're willing to consider it for $10K less, maybe more.

I see all the aspects of a house as having dollar value. Anything I don't have to change right away to be happy with or am not inconvenienced by will be worth more to me than things I don't like or that need replacing right away. I don't know if that's necessarily a Millennial thing, though. I'm also willing to live with carpet that's about five years old (maybe more if it's well cared for), cabinets from the eighties or older (as long as it's not the ugly white with a line of wood trim at the bottom, but then I just won't offer), ugly colored walls (with no wallpaper), etc. Anything I can easily change cosmetically or live with for a while wouldn't affect what I offer. Some ugly things I'm just not willing to live with or pay for if I know I'm going to be dishing out more money to change it.
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