Friday, November 28, 2014

I Didn't Coin This Phrase, But It Fits!

The 'Senior Sell Off'. Yep, it's going to start in the next few years due to the age of many homeowners, the Baby Boomers (I included) that will be retiring in the next 15 years.

I've been saying it for a while, watching my peers have grand babies. Hearing that so-and-so is retiring next year. Etc. I've been telling people there will be a drove of sellers that are retiring. Whether moving to a smaller home or moving to be closer to where their kids have started raising a family.....there will be many homes available for sale.

Based upon the age of your community there could be many homes available that are 'older' homes. Ones built more than 15-20 years ago.

Particularly in my specialty area, Santa Clarita Valley, where we have had a bevy of new construction over the last two decades. If you've read my blog for a while, you know I call Santa Clarita 'The Town of New'. New homes are what sell best in my market!

Hop in the Millennials, those under 33-ish, prepping to move into home ownership. These little lovelies are the ones that like newer homes. Fancy appliances, updated flooring, smart houses.....yes, different than what we wanted 20 years ago. Mostly because it wasn't available and times have certainly changed.

So, as a soon to be retiree, what do you do to make your home more desirable to a Millennial that comes a browsing? I find it interesting that a home stager feels it's all about staging. I love prepping a home for sale. Suggesting this, moving that, changing something else.

Unfortunately, as this market continues to rebound, we have home builders poised to build more new homes with all the bells and whistles. Gadgets that will be desirable to the Millennial buyer. Not everyone that is selling will be able to compete on that playing field.

And, while staging will help some, and pointing out upgrades is another......price will still be the thing that gets your home sold.

But, keep this in you are preparing for retirement......whenever you are considering upgrading, painting, changing this point in your life be aware of what a younger buyer may find appealing. Usually people do things in their home for themselves, something that makes them happy. Most of the time they don't do anything so horrific that it would turn off a lot of prospective home buyers. But now, as we are aging.....truly consider that next home project.....and ask yourselves....will it appeal to one of those dang Millennials??

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