If you’re thinking about doing any upgrades to your Mid Silicon Valley home before you sell, )you don’t have to but if you do), be sure you’re giving buyers what they want. If buyers see upgrades they don’t like they’re going to add the cost of removing them to the price of the house. Really, you should talk to your favorite realtor before you spend any money. Trends change quickly.
The McMansions aren’t of interest to the Millennial home buyer. With energy efficiency at the top of the must-have list, it doesn’t make sense to them. They prefer being together and want plenty of gathering space but not in the way of oversized homes.
Today’s Mid Silicon Valley home buyers fall into two categories: “They’re young professionals who prefer a turnkey home that needs little or no work,” she says. “(Or they’re) creative/romantic buyers who want to invest sweat equity and money over time, and put their personal stamp on the property and add value for the future.” Original, huh? Sounds like every other generation.
Things today’s home buyers want from your house include: Energy efficient windows. Low-emissivity, or low-e, windows have a special coating that helps keep heat inside during the winter and outside during summer.
A separate laundry room. If your house has the laundry room in the garage, painting the walls, adding lighting and shelving would be a good alternative to a completely separate room.
Energy Star-rated appliances, ceiling fans and programmable thermostats top out the list of energy efficient must-haves.
The outdoor kitchen and outdoor fireplace have gone out of favor. The idea of cooking outside sounds great. The reality, not so much. They’re expensive – on average $12-15,000. Mid Silicon Valley home buyers would rather see that money spent somewhere else.
Another common feature of the past that current home buyers aren’t in favor of are whirpool/jucuzzi type tubs in the master bedroom. Not energy or time efficient to wait an eternity for the behemoth to fill up and then try to keep it warm. Although the large, luxurious tubs are going by the wayside with Mid Silicon Valley home buyers, multiple shower heads in the master bathroom are an amenity millennial buyers appreciate.
Other features that aren’t of interest include formal living and dining rooms. The kitchen and family rooms are still the spaces where most families congregate. I never did understand my cousin’s living room that had white furniture. We could look but definitely not touch.
Cork flooring and solar and geothermal energy, as well as features such as pet-washing stations and sunrooms are unnecessary amenities. Mudrooms are a plus.
A majority of Mid Silicon Valley home buyers prefer a new home to an existing one. Good luck with that. 65% want that home to be in the suburbs. No matter what the income, buyers overwhelmingly prefer a smaller house with more features and amenities over size. “More than two-thirds are willing to trade size for high-quality products and features,” said Rose Quint, NAHB’s assistant vice president for survey research.
Being a millennial is a mindset more than an age group so it’s not surprising that there’s a subset of the group that are looking for fixer uppers to rehab. “First Millennials” – those between the ages of 22-39 – don’t want to spend too much money and they’re willing to compromise on those high-end features to buy a home.
Our love of HGTV has trickled down to the First Millennials. They’re not afraid to do the fixing themselves to save money and have a family project to share. Favorite outdoor projects include “she sheds,” vegetable gardens, fences and decks.
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Today’s Real Estate article “Millennials have hit the Mid Silicon Valley home market. Learn how to appeal to them to get your house sold.” was written by Vicki Moore, Today Sotheby’s International Realty.
You’ll find Vicki selling homes in Mid Silicon Valley, San Mateo County, in the cities of Foster City Homes and Condos For Sale, Pacifica Homes and Condos for Sale, Redwood City Homes and Condos For Sale, Redwood Shores Homes and Condos For Sale, San Carlos Homes and Condos For Sale, San Mateo Homes and Condos For Sale.
Call Vicki at 650-888-9268 or email Vicki@CallVicki.com if you have questions about boosting your home’s value.
Vicki Moore, a licensed California Real Estate Agent, CA BRE 01234539, serving Mid Silicon Valley | San Mateo County since 1998. Today Sotheby’s International Realty, San Carlos, CA.
You can speak with Vicki by calling/texting her at 650-888-9268 or you can email her at: Vicki@CallVicki.com if you need to sell your Pacifica home.