We’ve all seen it. Plentiful bowls of fruit, numerous throw blankets, pillows galore, chunky area rugs, fake plants in every corner, cluttered knickknacks, and mismatched décor that’s not befitting to any interior.
Art of Staging® specializes in eye-catching luxury real estate home staging and redesign with a focus on marketing to the new generation of real estate buyers: millennials (Gen Y). Millennials are the generation born around 1980 and on top of being the most educated generation to date, they are re-defining luxury. The presentation of your home should appeal to this demographic. Why?
With more than 12 million U.S. millennials exceeding six figure incomes, they are more than likely the potential purchaser of the real estate you are looking to sell. Buyers under 40 years old are the largest group of home buyers and wealthy millennials are among the most active players in the luxury real estate market today.
How effective are these real estate home staging tactics among millennial home buyers searching for that perfect luxury property?
We conducted a simple “millennial home buyer” survey to answer just that, and asked 20 millennials from Los Angeles and the Silicon Valley to New York and Boston questions pertaining to their décor preferences. Here’s some of the most interesting results:
- When asked to describe their style as either traditional, modern or both traditional and modern elements designed in a tasteful way, nearly all survey participants eagerly circled the third option
- Area rugs are becoming a thing of the past – survey participants agreed they prefer to see hardwood floors or glossy concrete
“I see high quality hardwood as the preferred amenity among millennial buyers”, said Timothy Savoy, Coldwell Banker sales associate from Washington D.C. and recent recipient of Coldwell Banker’s 30 under 30 award.
- Unanimously, the survey participants agreed they prefer minimalist design so they could envision themselves adding their personal touch to the space. Furniture doesn’t necessarily sell a home, the architectural focal points – like fireplaces/windows/views/molding – do.
- Just say no to throw blankets. Many millennials said they’re reminiscent of “Grandma’s house” and feel out of place, especially on hot summer days.
- Knickknacks = clutter. Keep it simple – less is definitely more!
- Staging a dining room to look like a luxury restaurant makes potential home buyers picture themselves throwing a dinner party. Millennials dine out more than any previous generation and décor and design has become more important than ever before, partly thanks to Instagram.
- As the most eco-friendly generation, millennials don’t believe in fake plants. Spring for the real ones – green is good!