There is a new demographic looking to purchase houses these days, and old construction strategies aren’t going to cut it. Historically, a well-built house with decent curb appeal would be enough to attract buyers. Not anymore. Here are the top five qualities today’s buyers are looking for in new construction homes.
Homebuyers understand that prices are only going northward. They don’t, however, want to take on so much debt they’ll bequeath a mortgage to grandchildren in their will. New homes are desirable, as long as they are appropriately valued. If a home is so far out of reach that potential homeowners know that they won’t pay it off until well into their twilight years, they are far less likely to take the plunge and take out a loan. Make sure your new construction homes are valued appropriately. If it comes down to it, a smaller home that is monetarily attainable is more likely to sell than a home that is larger and far out of price range.
The new demographic of homebuyers are millennials who have gotten married and started their families. They want a safe place that is family-friendly and conducive to raising a family. Even above tech-savvy features, home buyers want a home that emphasizes their family. Is there a back yard where the kids can safely swing, play, and run around? Are there enough bedrooms for their expanding family? Is there a park and a good school nearby? How close is the housing tract to places of employment? If paying slightly more for a house means a shorter commute and more time to spend as a family, the new demographic will choose that option every time over a slightly less expensive home and a longer commute. Take all these variables into consideration when deciding where to place your new construction track.
Though this will factor more as time goes by, having a home that is connected or can be connected, is still a bonus in the eyes of today’s home buyers. Millennials are the generation of Amazon’s Alexa and Google Home. They’ve connected their apartments seamlessly and are tech-savvy enough to connect newly purchased homes on their own. While a fully connected house isn’t a make-or-break deal for new construction homes, offering connectivity will be viewed favorably. Keep in mind, however, that if they have the opportunity to purchase a non-connected house for 10K less than your already-connected option, they’ll choose the cheaper of the two and set up the smart features themselves. The important thing when it comes to connectivity is to include a reasonable amount of setup without raising the prices incredibly high. Otherwise, your potential customers will likely go elsewhere.
The millennial generation, more than any generation before, are highly attuned to exaggeration and false advertising. They value transparent, honest, and upfront messaging and communication. If you over-promise, they’ll see right through and call it out. If you under-promise, they’ll wonder why. When marketing new construction homes, be precise and real. Never over-inflate what your house can provide and don’t promise things that you can’t deliver. The fastest way to lose a customer is by lacking transparency and authenticity in your advertising, messaging, and communication.
Millennials are a generation of communicators. They grew up during the emergence of social media, instant messaging, and adapted to apps like Snapchat. Being available to answer questions and queries on the fly is highly beneficial in luring in prospective buyers and converting them to homeowners. Want to lose a potential customer? Don’t respond to their Facebook messages or emails for a few days. Consistent communication is key to keeping potential home buyers engaged in your offerings. Don’t communicate, and you’ll lose them overnight.