New vs. Old, Generational Differences in Home Buying and Home Selling

This article isn’t about pillows or towels or furniture configuration but an educational article about closing the gap of old versus new: Comparing the paradigms of generations in home selling and home buying.

The way humans perceive what actually needs to be done to sell a home are as vast as the generational differences. The elders say “it’s always worked this way.” We find a listing agent that we like, they tell us to tidy up, take photos, we sign a contract and away we go. Within due time, we’ll be able to sell our home just like we always have. It may take several months but we’re prepared to be patient and wait it out. The first couple of months go by, and it is assumed that if the house goes “on sale” by a price reduction, it may sell a little quicker or perhaps it was overpriced to begin with. Again, we’ll just be patient and wait it out. Our agent will find the perfect buyer that will appreciate all the fine things our home has offered us over the last 40 years.

Conversely, home buyers in the Central Florida market tend to be in the 30-something range. These encompass Gen X and Gen Y. Gen Xers are age 33 to 49 and grew up after the Baby Boom generation. Gen Yers are age 24 to 32 and have grown up in the Information Age. Both Gen X and Gen Y groups are carrying on the human race and are of child bearing years, many parents both working full time.

Gen Ygen x

Now that the economy has picked up, jobs have become more abundant, and families are growing, Gen X and Y are house hunting. Their expectations are very different from the Baby Boomers, who are now shifting their focus to retirement and downsizing. Gen X and Y as house hunters are looking for move-in ready – I repeat move-in ready. Their lives are super busy and moving at the speed of the information age. They simply do not have the time to prepare a home to update it, paint it, and make it their own. They begin their home search on the web. After all it’s where 90% of home buyers begin their search. It’s the information age moving at the speed of the net.

Is your home presented in move-in condition? Do the potential buyers see this in the professional photography on the MLS? Do you give them a hint at how the spaces in your home should be used? Are your accessories playing up the great features in your home? Is your home squeaky clean and odor free? What about curb appeal? Does a potential buyer want to even set foot inside your most valuable asset?

A professional home stager, at a cost of less than your first price reduction, will help you market your home to stand out against your completion. Remember you’re dealing with Gen X and Y who want move-in ready. Don’t linger on the market; prepare that home so you can move on in life to your next adventure.

GenX

 

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Marie Fox

Marie has completed coursework in the Interior Design Program at Seminole State College. With her ISRP (International Staging and Redesign Professional) certification, Marie understands what motivates a buyer when searching for a home. Contact Marie at (407) 314-5076.
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