Everyone has different tastes when it comes to their home’s look and feel. No matter who you’re targeting for home sales — millennials are an important audience to consider. Having a strategic understanding of this buyer group’s wishlist will give you the leg up. 

According to the 2022 NAR Home Buyers and Sellers Generational Trends report, Millennials make up the largest share of home buyers at 43%. Boomers make up the largest share of home sellers at 42%.

Millennials Buying from Boomers

According to Zillow, upwards of 20 million existing homes will hit the market from now through the mid-2030s — comparable to the stats we saw for new home construction in the 2000s boom-bust cycle. The trend is due in part to the Silver Tsunami — a metaphor used to describe the population aging. 

Essentially, baby boomers are leaving their current homes at record levels in the coming years, freeing up inventory for millennials who are starting their families. 

So, what exactly are millennial buyers looking for? One thing can be sure— what millennial buyers want isn’t always what boomer sellers have. It makes sense that each of these groups would have differences in tastes for their home. Aside from the obvious generational gaps, each group has had different economic experiences, holds different values, and is influenced by unique facets in culture.

Millennial Must-Haves

The projected time millennial homebuyers will stay in their homes is around ten years — about half the time boomers typically stay.

Unlike boomers, most millennials aren’t looking for their “forever home,” so they’re not always interested in dedicating the time and resources needed to purchase a “fixer-upper.” Dumping all their future savings into piecemealing expensive renovations room by room doesn’t interest them either. They’re looking for “move-in ready” homes that they don’t need to update at all. 

With fragmented attention and chaotic lives outside the home, we see this generation favoring a return to minimalism. It makes sense having grown up with the introduction of the Internet; they’ve been hit hardest with widespread information overload. Functional, simple, and clean designs help millennials take back some peace of mind even if their lives outside are not.

So, what trends should you be aware of when it comes to selling to millennials? Here’s a shortlist to keep on your radar:

• Updated kitchens with Quartz countertops

• Open, bright, functional spaces 

• Neutral paint colors

• Refinished flooring

• Smart and spacious closets and storage

• Sustainably-focused design, reasonable energy use, newer appliances, and natural and green materials

What Boomers Have vs. What Buyers Want

Understanding the disparity between what boomers currently have in their homes and what millennial buyers desire is crucial for successful sales.

We’ve Got Your Back

At Renovation Sells, our primary goal is to give homes the look buyers want. 

We’re proud to maintain a deep, nuanced grasp of current home buying and renovation trends. Our talented team is dedicated to making the best first impression with buyers, both online and in-person. Check out our before and after gallery for a better idea of how we turn dreams into reality!