Features in a Home Millennials Just Love!
A very large number of our buyer clients these days are quote unquote part of the Millennial generation and even me myself identify mostly with this generation which is why I understand them so well, know how to cater to their tastes when buying, selling or helping them to renovate their homes. And as we swing into their prime house buying years, I’ve noticed over the years that certain features of a home really ignite this generations’ excitement and opens their eyes and even their wallets to some degree.
Of course affordability here in Toronto and the GTA are very big topics to uncover and to understand as everyone’s financial situations are different. However, today we’re just going to have some fun and enjoy in the delights of things that really make people swoon over certain types of properties, why and how you as a seller who may be looking to transition out of the nest and downsize may want to consider doing to your home if you’d like to really maximize on the sale price of your family home.
Here are a list of home features big and small that really get the next generation of home buyers:
LAUNDRY ROOM AND UPSTAIRS LAUNDRY
The Millennial generation and even some degree Gen-X grew up in households whether urban or suburban, where laundry machines were usually pushed deep downstairs in the darket parts of the basement or under stairs next to the noisy furnace and hot water tank. And while our parents probably didn’t know any better or homes just weren’t big enough to accommodate laundry on different floors, newer homes have fully embraced this model now where probably 8 out of 10 homes actually have their laundry machines and laundry rooms either on the main floor (with the living and dining usually close to the garage door entrance) but more and more we’re seeing upstairs laundry on the same floor as the bedrooms.
Why does this make sense?
Well, clothes are usually changed on the top floor anyway if you’re in a 2 storey or 3 storey house so why would you want to lug the laundry all the way downstairs to the basement and then have to lug it all the way back up when it’s done. Not only is this more heavy and unnecessary labour and forced exercise but it could also become a hazard and potentially strain your back. Just keeping clothes on the same floor as the machines makes total sense and truth be told, many Millennials are willing to pay more for this and view this not only as a luxury but sometimes a necessity especially while working and running a household with kids and pets! Busy Busy Lives.
Also, although not all that practical from a day to day use but having an actual laundry room with a dumping sink actually gives the illusion that the home has more room, more space for storage of cleaning products which is certainly a nice-to-have feature and it definitely gets potential buyers wide-eyed when they see one especially when coming from a condo that can barely fit 2 little micro-washing-machines with no other additional storage. The laundry room is always a big plus and never fails to impress buyers or even myself as I literally see hundreds of a homes a year here in the city and greater Toronto area.
2. MUD & CHANGING ROOM
This one is fairly subtle when you’re looking at homes unless there’s a dedicated space for coats, shoes, backpacks and even umbrellas. Clearly, this is a luxury here in Toronto where we’re clearly averaging more than 1 million dollars for detached homes in and around the city but there are ways to make a home appear like it has a mudroom with perfectly placed hooks, hangers and shelving. A nicely designed shoe rack could make a world of a difference when it comes to making the first area of the home you enter into less cluttered and more organized and cozy.
Having this space just really impresses buyers of all sorts whether the potential buyer is a family or just a married couple and a dog where you can place leashes, doggie shoes or anything else. The use of space and designing a home for sale or even staging purposes takes a lot of thought and design sense to pull off but we find that in our experience, this space if done well, will make the home feel so much larger, more organized and functional on a day to day basis so we would really recommend you do this to your home if you’ve got the space for it. Busy family buyers will thank you later for it and likely pay a bit more for it too!
3. Kitchen Island with Breakfast Bar
I will tell you in this day in age if your home is more than 2,000 sqft and you don’t have a decent granite, marble, quartz or even porcelain island in the middle of your kitchen with breakfast bar, the home will surely underwhelm buyers and almost even disappoint them. And although I know we live in an age of instant food, third party food delivery apps and just easier lighter cooking overall (unless you’re big on cooking) that kitchens especially those in the suburbs without an island will surely disappoint and maybe even sway buyers to buy it for less or go with another property altogether.
Obviously if your kitchen just doesn’t have the space for it then a kitchen renovation expansion could be in the conversation but homes in the burbs that are in the 10-20 year age range can sometimes have really small kitchens tucked in the back of the home in the dark as an afterthought like the way main floor powders are treated in these homes. Clearly, things have changed dramatically where the kitchen these days not only serves as a place to cook, dine and even work in - it also serves as the focal point for entertaining family and friends when they come over and really the main place where people hang out and chat or have a glass of wine as the importance of the TV is beginning to fade into the background or at least be dominated by kids’ friendly content ;)
Let’s just be clear here…I’m not saying you won’t be able to sell your home without a renovated kitchen and big island in the middle of it - you can. But without an island with stone or man-made stone surfacing the kitchen with decent cabinetry and stainless steel appliances, it will prevent you from getting the maximum dollar value on your home and we here at Selling Toronto believe you and your potential buyers should see and touch what your home and kitchen could really be so it is often times worth the budget to upgrade and improve the “heart” of the home.
4. Finished Basements W/ Rec Area or Extra Bedroom
Doing renovations are a fun and gratifying part of the process in buying a home and while some buyers are more prepared financially and mentally to do some work to their new home, most Millennial buyers prefer someone else to setup and prepare the home including finishing the basement and telling them where things should go. There’s a lot of decision-making that goes into finishing a basement such as where the bathroom should go, where the equipment and mechanicals should go, how to avoid posts, pillars and supports and if you’re putting in a kitchen or even little kitchenette, it adds a whole other layer of complexity that most novice buyers just don’t want to deal with.
And with interest rates the way they are, young Millennial buyers often like it or would rather pay more over the listed price than trying to secure contractor(s), getting quotes and of course all the noise, dust, additional expenses. Often, this is better done by the sellers which can then be used as a selling point of more space, more storage, a possible in-law or nanny suite or just a fun area for the family to play or have a drink in. The possibilities are endless when you’re buying a house and there’s just so much more to play with both as a seller and for your realtor who is representing and selling your home but this is definitely a space where I see many young buyers just become “sold” by a home versus one that isn’t finished.
5. Open Concept Living Areas
This trend has been really popular and very well demanded by young buyers these days because for the most part, this is all they’ve ever known especially if they’ve been living in newer condos or townhomes for most of their adult lives. And for those Millennial buyers who even experience the open concept office space see the benefits of it daily from being able to work collaboratively with your co-workers, encourage cooperation and collaboration or simply just to bring more light into the space, I just don’t see the open concept changing anytime soon because well, who really hates more light than less light? Seriously right…
And while there is a small segment of young homeowners who prefer to have section walls, cutouts or even half walls for slightly better privacy and sound absorption, overall though as homes and condos continue to skyrocket in price and walls end up eating up valuable square footage especially in smaller space likes condos or townhomes, it just doesn’t make a whole lot of sense anymore to have walls that are non-supporting because again, did I mention the natural light problem???
Plus it’s just a cleaner looking house. Don’t get me wrong open concept can induce stress because of excessive noise, smells from cooking like in kitchens and it can get messy and cluttered in no time especially when you have young ones but I just don’t see us going back to the separation of rooms with formal dining rooms, sitting areas, libraries even unless you really need to work and have a proper bookshelf with encyclopedias, the need for closed off rooms just doesn’t make a whole lot of sense anymore so Millennials clearly want or demand open concept living spaces if they can afford it. They’re more airy, bright, functional and they really maximize every square inch of a home.
6. BUILT-IN SHELVES, STORAGE AND CLOSETS
I guess I’m biased in this regard where I can immediately identify homes that have been upgraded, where thought was put into the home for maximum joy and enjoyment but when I see custom built-in shelves, cabinetry or hidden storage spaces for stashing all your stuff, I get really excited for my clients. And while sometimes it is easy to undervalue these things when you’re in the homebuying process because you’ve got bigger things to worry about such as finances, schools, bathrooms and kitchens, these little touches that really help the home function better really make a big difference and in new suburban communities where most homes come with builder basic finishing and features, it’s refreshing and impressive to see a seller put in the effort to make the home more beautiful and functional not only for themselves to use, but also for the new potential buyer. It’s these little upgrades (although sometimes not little see California Closets) but they add up to a beautiful and wonderful experience once you move in and use and see these features everyday on a day to day to basis. They really make a huge difference in terms of selling your home at least to an agent’s eyes and it’s a big part of when and how we help our clients see and find value in a home.
So I hope you guys enjoyed this post here about things we’ve seen or noticed from Millennial buyers that we work with where we literally see their eyes light up and whip out their chequebooks the moment they see certain features in a home that were done by a seller where these features as a seller not only help you sell the property and help it get attention compared to others but they also drive the younger audience crazy and make them fall madly in love with your home instead of someone else’s and this is what we really focus on here at Selling Toronto as you can see from the homes we help our clients with in terms of renovation and selling for TOP TOP DOLLAR!
If you think you need some help or are thinking of upsizing into a bigger or even smaller home, please don’t hesitate to contact us here admin@sellingto.co as we would be happy to help you transition and move to your next dream home hopefully with all the features we mentioned here. But until then, we’ll see you in the next one…
- Pete