Real Estate is a Family Affair for Young Buyers
Connecting With Young Family Buyers
Despite the headlines, there are a number of millennials and young families who are looking to buy real estate. In fact, around a third of those aged 25-34 were homeowners by the end of 2018, according to the U.S. Census Bureau. Marketing properties to this demographic is certainly a little trickier, as you’ll need to justify making the leap from rental to ownership at a time when the majority of their peers are choosing not to, but by addressing their key priorities at this stage of life, you can soon make a solid case. From leveraging their familiarity with smart technology to showcasing the available growing room for their future family life, you can soon strike the right note with your young family buyers.
When it comes to smart homes, older millennials are leading the charge, with 36% already embracing smart home technology. This makes sense since they have a little more disposable income and are potentially seeing the benefits of smart tech for family life. Consider baby monitors, for instance; technology has moved these devices along to the point where your buyers can control room temperature and noise levels from their smartphone, or check in on the baby’s naptime from the office. Make the most of the improved ranges on these products; show them all the rooms in the house from where they can still comfortably monitor the baby. The benefits of a smart security system might seem obvious to protective new parents, but they will also appreciate smart lighting and sound connectivity, for when the kids have gone to bed and it’s time to relax.
Seek Out the Storage
One of the most critical aspects of a family home is its capacity for storage. Nearly 1 in 10 families rent self-storage space; that’s a significant addition to the household budget, not to mention the hassle of not having things to hand when you need them. Before the viewing, look over the property with storage in mind. Is there somewhere to keep the buggy without bringing it into the house? Where could they put in some clever shelving for books and Legos? Is there garage space for drum kits, bikes or surfboards? Even if they haven’t thought of it yet, your young family buyers will appreciate your forward planning.
For most families with kids, some yard space is essential. Whether you’re showing them a blank canvas or a landscaped lawn, explain to them how they can use the space. Could they build a treehouse there? Is there room to jump rope? Can Mom and Dad enjoy a coffee in peace, without being endangered by soccer balls? It’s also worth exploring the neighborhood a little to see where kids can safely learn to ride their bikes or walk to the park with grandparents or carers. All of these small details add up to paint a picture of happy family life.
Marketing to young families is a great opportunity to embrace their vision of future family life. For most, the experience will mean upsizing from rental or individual smaller apartment ownership, so highlight the property’s longevity, storage potential, and smart opportunities. Walking them through their first steps in family homeownership should be a real joy.
A working mom and full-time writer, Ali Vale used to work in real estate. The hustle and bustle became a little too hot to handle once she had her two daughters, so now she writes on anything to do with homes and finance. When she’s not slaving over a hot laptop, she’s spending time with her family and taking care of a menagerie of pets.