Attention Orange County Homeowners! There’s a new home buyer in town.
It may be a seller’s market out there, but we all need to take note of the millennial home buyer. Not only did the 2017 U.S. homeownership rate increase for the first time in 13 years, but millennial homeowners were the largest increase by far. Will your home be next?
5 Things You Need to Know About Millennial Home Buyers
Bottom line: in the next five years, an estimated 66% of millennials are expected to buy homes. And, 65% of millennials who bought in 2017 were first-time homebuyers. What does that mean? More than likely they will buy your home!
The Ulnick Group has your back! There’s a new home buyer in Orange County, and there’s 5 things you need to know about these millennial home buyers. They need to know what makes your home special. There are many reasons you fell in love with your home. That’s why it’s our job is to tell this story and make new buyers fall in love too❤️
Let’s take a look at millennial home buyers in Orange County...
#1 - Millennials have gotten a bad rap, with labels that just aren’t accurate.
- Foolish with their money
- Not long-term planners
- Dependent on their parents
We’ll let the numbers speak for themselves. But from the statistics, this generation appears to be just as good, or better, than others when it comes to managing money. It’s time to say goodbye to the stereotypes, because millennials are saying hello to homeownership.
#2 - Millennial home buyers increased from 34.7% to 36%. And, for good reason.
- Rent prices are at an all-time high
- Wages are increasing at 2.9% per year (the fastest since 2009)
- Millennials make up the largest population in U.S. History
The takeaway: in the next five years, an estimated 66% of millennials are expected to buy homes. And, 65% of millennials who bought in 2017 were first-time homebuyers. What does that mean? More than likely they will buy your home!
#3 - With 92 million millennials out there, what are our new buyers looking for in a home?
- Shorter commutes
- Walkable communities
- Even if it means a smaller home
Their idea of a “perfect neighborhood” builds on what recent generations value in homeownership. Community is most important. Bigger is not necessarily better. But, the most common reason for purchasing a house remains the same - a desire to own their own home.
#4 - What do today’s buyers look for in their home?
- 36% of most recent buyers were looking to avoid renovations and problems
- 47% bought new homes to avoid renovations and problems
- 32% were considering a better price during the home search process
The home search process is also different. For not just millennials, but especially millennials, the first step taken was to look online for properties. And, as a result of an internet search, buyers most often walked through the home they viewed online.
#5 - What’s important about their home search?
- Buyers typically searched for 8 weeks and looked a median of 10 homes.
- They saw the exterior of the homes because of searching online for properties.
- The most important website feature was the photo or virtual tour of the home.
The Seller Experience
This is how we make your home stand out to new home buyers in Orange County!
There’s a lot of preparation that goes into getting your home ready for sale. Modern technology makes listing a property for sale fairly simple. The average realtor can enter information into the MLS system, click a button, put up a for sale sign, and put your home on the market. We don't do average. We go above and beyond your expectations when it comes to marketing your home. That's just another factor that sets us apart from the average Realtor.
We create a custom sales and marketing plan that will make your home stand out. This custom strategy dictates everything from our content, photography, videography, staging, online presence, targeted marketing and events.
Working with our clients is about more than a closing a deal, it’s about guiding you through the major life event of selling your home, and negotiating the best outcome. We are with you every step of the way to get your home ready, seen by buyers, and sold. We strive to exceed our client's expectations and take great pride in delivering the highest level of service available in Orange County.
We're here to make home buyers fall in love with your home, and it all starts with that first impression!
Wondering how we do this? Read more about the Seller Experience.
Listing your property with the Ulnick Group will give your listing the ❤️ it deserves.
Selling Your Home?
Are you ready for your Property Story? Are you ready to Love Your Listing?