While most young millennials in their late 20s are first-time homebuyers, many older millennials in their 30s are learning about a new rite of passage: home selling. The move to sell could not come at a better time, especially for those who aspire Boulder CO luxury living. According to an article by wsj.com, people feel as though it’s a better time to sell a home rather than buy for the first time in a decade. Knowing it’s less stressful to sell makes it easier for millennial homeowners hoping to step-up to a nicer house in Boulder. Whether they enjoyed the luck of buying an inexpensive starter home during the housing decline or bought a home that experienced rapid appreciation in the last several years, millennial homeowners have more options because of the robust Colorado housing market.
Enjoying the sense of optimism
A University of Michigan consumer study showed consumers feel like it’s a great time to sell a home. Some of the factors millennials notice include the tight inventory of homes and fast-rising home prices. If a millennial notices his or her older neighbors aren’t listing their homes, it gives them a unique opportunity to sell and command a better price. Experts point out, though, that it won’t be long before baby boomers over the age of 55 decide to sell. The rate of home ownership is 78.9 percent for people age 65 or older. Seventy-five percent of people ages 55 to 64 own homes.
Staging with the next owner in mind
Most millennial homeowners own entry-level homes or “starter homes,” which are in high demand. Millennials peers will make offers on the home as well as retiring baby boomers hoping to retire. Staging a home or two distinctively different generations is not difficult. The key is to focus on the universally-loved concepts of cleanliness and lack of clutter. When decorating, choose classic but contemporary décor. The most popular interior paint colors include neutrals in blues, grays and beige. If in doubt, buy a few Farmhouse Modern lighting fixtures and décor items to appeal to all age groups.
Selling means staging a home, pricing it as well as improving the curb appeal. First-time sellers do not always realize they have to pay some closing costs. Instead of going it alone, lean on a good real estate agent in Boulder CO to help you price, list and market a home. An agent helps you time the sale of your home to fit in with another home purchase. At Metro Denver Luxury Homes, we work with buyers and sellers in the millennial generation. For more tips on millennial home selling, please contact us today.