Green is Gold When Marketing to Millennials
You already know that the Millennial generation is a force in the housing market.
According to a Bankrate survey, Millennials (33%) have the strongest preference for real estate investing with money they won’t need for the next decade or more (https://bit.ly/3BkegNg).
They’re bullish about buying homes, says a Green Builder Media story (https://bit.ly/3ozGHPK), “Millennials: The Driving Force in Housing.” Plus, the group has an estimated spending power of $1.4 trillion.
Recent research suggests that when renovating your home, it may be a good move to incorporate green features to cater to such buyers. Now is the time for you to help this generation and benefit from their wise decision to invest in the housing market.
After all, 77% percent of Millennials say they’re willing to pay more for environmentally sustainable products, and 79% are concerned about the environmental impact of products they buy, according to Green Builder.
In addition, Fannie Mae research (https://bit.ly/3Bmzo5u) found that if the costs could be included in their mortgage loan, more than half (51%) of those aged 18 to 34 would be interested in improving home energy efficiency, and 48% would be interested in installing solar panels.
It’s important to know that Millennials’ expectations for their homes differ from those of other generations. For example, net-zero all-electric homes, Quartz surfaces, induction cooktops, and water conservation are among their priorities.
Green Builder found that some of the significant home upgrades this generation values include:
- Heat pump HVAC systems
- Solar photovoltaic systems with battery storage
- High-performance windows
- Integrated smart home systems
Still, some features on their wish lists – smart thermostats, LED lighting, non-toxic paint, energy efficient appliances, and security cameras – aren’t difficult or expensive to incorporate into your home.
Since homeowners are increasingly concerned about unexpected home improvement costs – according to Fannie Mae – you may gain a competitive edge by taking some of the repairs and upgrades off future buyers’ plates.
Besides making your home more marketable, green upgrades also enhance your experience while living in your home. For example, you may find lower utility bills, greater comfort, and a healthier indoor environment.
Reach out to me to set up a free consultation. I am excited to share my knowledge and tips about the current hot house market and will ensure you profit from my expertise.