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HELPING YOU FIND YOUR WAY home Local Real Estate News Brought To You By The Taylor ∙ Linginfelter Team
SPOTLIGHT ON
MILLENNIALS
This demographic continues to emerge as a real mover in overall residential real estate market. Whether renting or buying, their preferences and patterns are interesting to watch: • Many who are purchasing are doing so with 0% down loans AND avoiding PMI. Obviously, their credit scores need to be high to do this. • Millennials are EXTREMELY reliant on visuals to make their decisions. Sellers and their Realtors who may be appealing to this market must make sure their best presentation is made via photos and other forms of virtual marketing. • Though Millennials continue to make up a large portion of the home buying market, many are opting to rent instead of purchasing. But the rental unit better have lots of amenities and be very upscale in appearance. The space can be as small as 350 square feet (they don’t prefer large living spaces), but interior finishes must be sharp, crisp and upscale. The communities also must offer amenities such as fitness classes, spas, and coffee bars.
We specialize in the Millennial Market. If you or someone you know owns a property that may appeal to Millenials and are thinking of selling, give us a call!
QUICK BUCKHEAD SNAPSHOT
LIST PRICE:
MIN
MAX
AVERAGE
MEDIAN
$70,000
$14,700,000
$1,867,242
$1,335,000
SPOTLIGHT ON
55+
Interestingly, the 55 and up demographic has many of the same preferences as Millennials. However, their reasons for these preferences and how they approach the buying process is quite different than Millennnials. • They also want smaller spaces and prefer not having too much to maintain. This is mainly because they have been there before and know the time, costs, and efforts, of maintaining large spaces. • The 55+ buyer prefers a high end “luxury” feel in their homes. They’ve earned it. • They want active and social communities with amenities. • 55+ homeowners want a lock and leave lifestyle and may own multiple homes. • 55+ differ from Millennials in that they want stepless, one level living, or at the least Mastes on the Main.