This segment of homebuyers are willing to work to put their stamp on their home.
There are a multitude of reasons that people decide to renovate their homes. One of the primary reasons homeowners are right now is to customize and update older housing stock due to limited inventory. Specifically, according to a recent article by NAR, Millennials are eager to find homes to put their own stamp on, and that could be a selling point for some homes.
What They Want
According to the article linked above, the types of homes that are most desired for renovation are Modernist, Victorian, Colonial, and Bungalow style homes. Within these styles of homes buyers seem willing to complete a wide range of renovations. Large undertakings such as redoing kitchens are likely to be contracted out, according to the research cited in the article, but smaller jobs such as paint, flooring, and landscaping are likely to be completed by the new owners themselves.
How To Attract Them
Obviously a newly renovated home can attract a lot of buyers, but older homes with potential can still be represented as a blank canvas for those droves of buyers willing to put in the work. In order to make sure an older listing’s potential is seen by the largest number of buyers possible, it is a good idea to represent it with professionally produced listing materials. American Real Estate Media can provide the industry-leading listing photos, property walkthrough videos, virtual tours, and aerial photos that you need in order to show off the potential of your older listing.
