If you’re an experienced house flipper, there’s a possibility you’re missing out on the new generation of homebuyers simply because you don’t know the type of upgrades that are most important to them. Millennials are actually the largest group of homebuyers now, so it will be important to learn what they are looking for in the upgrades you are about to make on that house you intend to flip.
Carpet: Use Sparingly, If At All
Millennials aren’t very impressed with carpeting according to most of the research. This generation is the most active buyers of flooring out there. Knowing what they want in advance can spare everyone some hassle and have your home move-in ready. So, almost seven out of ten Millennials that purchase flooring are actually purchasing a hard-surface flooring option. Also, three-quarters of all Millennials say they will pay more for sustainable and eco-friendly products. Flooring made from sustainable materials like reclaimed wood, bamboo, FSC-Certified Wood (wood certified as environmentally friendly by the Forest Stewardship Council), cork or even the hardwood hiding beneath your current carpeting will usually impress the Millennial homebuyer more than carpeting.
Most Millennials aren’t expecting green tech in a used home they are buying. So, when it’s there, it really makes the property stand out against all the others they just looked at. Here are some examples of green tech that Millennials tend to love:
- Moisture Sensors
- Smart Locks
- Smart Security Systems
- Solar Panels
- Low Flow Faucets
- Smart Irrigation Systems
- Smart Appliances
- Wireless Thermostats
- Smart Windows
- Solar Blinds
Remember, as we mentioned before, house flippers marketing directly to Millennials are seeing more success. With the sheer size of this generation of adults though, that shouldn’t come as a shock. If you intend to rent to a Millennial, check out our other post about appealing to Millennial renters.
Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.