As you may know, Millennials are the generation which was born between 1980 and 2000. They currently range in age from 16 to 36. A large portion of them are just hitting the age when they start to consider buying a home. Statistically, this market is even larger than the baby boomer demographic was. How can you, as a builder, make the most of marketing to this up-and-coming generation?
The first consideration is communication. Because they have grown up with technology as an integral part of their lives, Millennials do not enjoy talking on the phone as much as they are comfortable with texting. In addition, when they search for a builder, they will use the internet to not only locate, but also to evaluate your work. If you do not have a solid online presence, you must develop that to capture this budding market. Also include testimonials from satisfied customers. Keep in mind that when they search online, they will likely do it from a tablet or smartphone, rather than a traditional desktop computer. Be sure that your website is mobile-friendly by having it converted to a responsive site.
The second consideration is technology. Having technology incorporated into a home will entice and pique the interest of Millennials. While there are whole-house technology hubs which control everything in a home, from lighting to security to utilities, if you’d like to just start small in the tech-savvy home building market, a few easy upgrades will make your homes much more appealing to this demographic.
First, consider installing a Nest thermostat for the heating and cooling systems. This type of thermostat can be synced and controlled by a smartphone. Not only that, but it also is intuitive – it “learns” what the homeowner likes as the temperature and programs itself to accommodate that. It also will light up when it senses a person nearby. A smart thermostat will appeal to eco-conscious Millennials in a huge way!
Next, while most of these are not a hard-wired device, consider installing a few smart outlets in strategic locations. Smart outlets plug into a normal wall outlet and feature the ability to turn on and off or dim lights from a smartphone app. Some brands also include programmability, motion sensing and built-in surge protectors.
A third technological venue to increase Millennial appeal is having keyless entry doors. Some keyless entries use a numeric pad, others use a fingerprint sensor, and still others have a remote fob. The appeal of a keyless entry is twofold. It frees the homeowner from fumbling with keys. It also adds security against unauthorized entry.
The third consideration is eco-score. Millennials have grown up with the admonition to protect the environment. They like to think that the home they are buying will help, rather than harm, that effort. Install a home energy monitor, which will track energy consumption from every electrical device in the home. Also, document the eco-score of your windows, insulation and other home components so the buyer can see the efficiency. Millennials love data!
If you follow these steps, you will set yourself apart from the competition in the Millennial home-buying market.