The millennials (known also as the children of baby boomers born between 1972-1992) and the post Second World War baby boomers (born 1946-1965) are making the greatest impact on the real estate industry today.
“Both the boomers and the millennials want move-in ready homes,” says Century 21 Real Estate Canada President Don Lawby. His company, in conjunction with Rona, recently conducted a national homebuyers’ preference survey that looked at the generations’ purchasing preferences and regional differences.
“Time is very important to people… they want to spend time doing what they want to do and not the things they have to do,” says Lawby. The survey also showed that 37% of millennials planned to move within two years.
“The message that it sends sellers is that if you’re thinking of selling or putting your home on the market and something needs to be done, do it before you put it on the market,” Lawby says, adding it may be something as basic as painting a room. Digital images of the home showing its curb appeal are becoming more important, says Lawby. Sellers should be aware of how the home looks when presented digitally.