Is “attractive enough for social media” a must-have for any of your buyers?
According to the 2019 Better Homes & Gardens New Home Buyers report, which featured a survey of recent female homebuyers, as well as real estate agents, 33% of millennial recent homebuyers said that their home must be Instagram-worthy, and close to half of millennial female homebuyers have already posted or plan to post photos of their new homes on their social media feeds. This is significantly higher than both Generation X (36%) and baby boomers (20%).
Millennials aren’t just posting about their homes on social media, they are researching homebuying through these channels as well. Nearly one-quarter of millennials said they have used Pinterest to find more information on buying a house, and 47% reported using social media to determine what type of changes to make to their homes.
What they’re finding is telling them that homebuying is worthwhile. Close to two-thirds of millennial homebuyers said buying a home is a good investment, nearly 10% higher than both Generation X and baby boomers, and 31% said that buying a home is a sign of success, 9% higher than Generation X and 19% higher than baby boomers. Millennials are also more apt to purchase in major suburbs, looking for a good school district and short commute times, and most importantly, room for their pets.
“For the modern millennial homebuyer, it’s about finding a place she can be proud of—and one that’s a welcoming setting for friends and family to gather,” said Editor in Chief of Better Homes & Gardens Stephen Orr. “She wants a place to entertain, to raise a family and that’s pet-friendly. For her, a home represents an investment, of course, but also an important new canvas for self-expression.”
In fact, millennials are planning to entertain in their homes, nearly 90% expect to host social or holiday gatherings. It may have something to do with showing off their dream homes – millennials are most likely to seek a modern kitchen, an outdoor pool and his-and-her bathrooms in the master bedroom.
Ultimately, across generations, people are still using real estate agents for their homebuying transactions, 86% of people surveyed used a Realtor® and 97% said they would use a Realtor® in their next home purchase. Sixty-eight percent of people said they finished the whole homebuying process in six months, seeing about nine homes and spending, on average, $273,000 on a single-family home.