Campos Research recently released a report on the housing market titled, “Dogs, Digs and Diapers.” They broke down some of the top trends to anticipate as you look to buy or sell in Pittsburgh this year.
Millenials Are Starting to Buy
One of the number one reasons Millenials are still renting is because of student loans. But, in 2016 there was an uptick in home purchases from this generation. Thirty-four percent of homebuyers in 2016 were Millenials.
Dogs Are Driving Purchases
A shocking 75% of Millenials in their 30s have dogs and 44% see them as practice children. There’s also a large majority of Millenials who are purchasing homes because of their pets. So, if you’re marketing your home, consider how you can market it to pet owners. If you have a large fenced in yard, areas for play or running. Extra bedrooms or space for pet beds and crates or tile are all excellent features that could be a selling point for this age group.
DIY and Walking
Millenials are scared away by a good renovation project, so don’t be worried about fixing everything up in your home before you sell. According to the report 25-to-34 year-olds nationally spent an average of $26,200 on home improvements. They’re also concerned about the walkability factor – meaning places like Mt. Lebanon, Dormont and Brookline have good sidewalks and local commercial areas.
Another thing to be ready for is more Millenials making online decisions about your home. Be sure your home pictures are up-to-date, are done by a professional and has excellent curb appeal. Some Millenials are making decisions sight unseen because of their comfortability with online purchasing.
As always, if you find your dream home or you’re ready to move – we are your team. At George, we have a team of professionals on-hand to offer you a free, no obligation quote.