Thanks to a steady economic recovery, historically low interest rates, and rising rents, the millennial generation is finally starting to enter the real estate market. Up to 30% of first-time buyers are part of this generation, so the most successful real estate agents will be those who know what young buyers are looking for and how to relate to their lifestyle.
According to EXIT Realty Nexus, one of the Minneapolis area's most respected agencies, millennial buyers are looking for some very specific features, such as:
- Modern Kitchens & Bathrooms: These rooms are the most expensive to update, so younger, cash-strapped buyers are more likely to go for a home in which these pricey renovations have already been made. However, many of these improvements are aesthetic in nature, which means you should be careful when making these updates.
- Open Floor Plans: Younger buyers typically entertain in a different way from previous generations, so for many, an open floor plan which lets everything flow together naturally is a must-have. The kitchen has become a family gathering spot, making more space here more valuable than a formal dining room.
- Home Offices: Millions of American workers work from home, most of whom tend to be from the millennial generation. A home office or room that can double as an entertainment area helps these workers remain productive by avoiding the kind of distractions that working in the living room can cause.
At EXIT Realty Nexus, every agent receives the best training in the industry based on the most recent trends and updated industry knowledge. To find out how they can help you take your career in real estate to the next level, visit their website, or call (612) 281-1033 today.