If you’re planning on putting your house on the market this fall, be aware that people at different stages of life enter the market at different times of the year. For example, the lively spring real estate season thrives on families wishing to relocate while their kids are on break from school. Home sales in autumn, however, are driven mainly by millennials and empty-nesters. As we near the end of the summer, many would-be home sellers are wondering whether either of those populations can be counted on to be active in the coming months.
Here are some tips for preparing your home for both empty nester and millennials:
• If someone visits your open house with parents in tow, pay as much attention to the parents as you do to the apparent buyer himself.
• Supplement the listing with a document that highlights the amenities that Millennials view as must-haves (for example, wireless Internet infrastructure).
• Allow plenty of time for the loan to be approved. The average millennial’s credit history lacks a landlord’s verification of his ability to meet payments.
• Emphasize multi purpose space—for instance, stage one bedroom as a home office-come-hobby room—because empty-nesters crave flexibility for the future.
• Provide a map to points of interest within walking distance. To the extent possible, aging baby boomers wish to integrate exercise into their daily habits.
• Showcase quality. Without teenagers around, empty-nesters can enjoy more delicate finishes and fine details, so give them something to brag about. They want to upgrade as they downsize.