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Instagram effect: What home sellers need to know about appealing to millennial buyers

Posted on Wednesday, January 3, 2018 at 9:39 am

(Washington Post)
Millennials make up more than 50 percent of all first-time home buyers and represent a growing segment of the Washington-area population. These young professionals and activists are looking to make their mark on the world at the epicenter of American politics and culture.
Despite lingering college debt, millennials hold a significant amount of buying power and many see the value of investing in a home versus renting. As products of the information age, they are more committed than their predecessors to the search process and are eager to absorb information from peers, reference sites and, of course, local real estate professionals. Their mobile lifestyle coupled with their innate curiosity will likely result in pursuing real estate transactions more frequently than generations before them, buying and selling at an even higher rate.
To underestimate the millennial influence on the Washington real estate market is to bypass a major opportunity. Here are a few things sellers need to know about millennial buyers and what they look for in a home:
Move-in ready
Call it the Instagram effect, but millennials are in search of the “picture perfect” home. They’ve grown up watching house tours on HGTV, scrolling through Instagram photos of perfectly staged homes and making Pinterest boards of their dream home. And while the DIY trend has its appeal, not everyone has the time or resources to take on a fixer-upper.