Millennials make up 37% of the home buyers in today’s real estate market. This cohort is the largest identified group within the housing market. With interest rates at record lows, older Millennials have paid off their student loans and are more established in their careers giving them the confidence to buy a first home. In some instances, monthly mortgage payments are cheaper than rent payments. Coronavirus has many rethinking urban living; especially, since the virtual office is becoming the new norm for conducting business. Many in their late twenties and thirties are looking to purchase homes in the suburbs over urban areas.
Millennials have made their priorities known when searching for their first home. The most important home attributes to over 80% of Millennials are updated kitchen and bathrooms. So as a seller if your budget allows it you should consider investing in updating the kitchen and bathrooms. The recoup cost on a bathroom is over 100% and kitchen can range from 60%-120%. In order for a seller to maximize their return on investment for these renovations they must know their market. Never go too overboard.
Tile is the best flooring and wall covering choice for both kitchen and bathrooms no matter the family’s lifestyle. Tile has a clean appearance, is extremely durable, made from nontoxic materials, hypoallergenic and easy to take care of. It is a great choice for home sellers trying to get their home market ready. Our sales team here at Paramount Rug Company says that Millennials are looking for rectangle shaped tile presented in neutral colors that aesthetically resemble natural stone, fun kitchen or monochromatic textures. Both our Brockton, MA and Hyannis, MA showrooms have a great selection of affordable porcelain and ceramic tiles that look like Carrara and travertine marble, accent Talavera backsplashes and solid textures in both honed and glazed finishes that can give any kitchen and bathroom a high end updated look. We look forward to helping you get your home market ready!
-
2 mins
