There’s a shift going on in the Canadian housing market, and our Carson Arthur wants to help you understand it! 50% of Canadians are planning to move within the next five years, and these buyers are mostly in two groups: boomers and millennials. Carson breaks down for us who these two buyer groups are, and what each group is looking for when buying a new home.
Millennials
First, let’s start with what the millennials (20-30 year olds) are looking for when buying a house. The three main things that they want before making an offer is: where the location is, if it’s close to their job (or there are job prospects nearby), and curb appeal — they want a character driven home that looks good.
Believe it or not, a home that has a well presented front yard will raise the value of the home by 7%. If you’re looking to fix up your front yard before selling your home, a couple tricks of the trade Carson suggests is to have front lights and well lit house numbers — millennials don’t want their house numbers to look dated or have it blend into the house. This can be as simple as adding a fresh light to the front door! Another great tip is to buy a couple of spot lights (which are mostly run on solar power), and place them around the spots you would like to highlight. Carson also shows a solar light attachment that can be hung above your house numbers if you don’t want to completely replace them.
Want some more tips for transforming your home’s front yard? Watch the video below!
Boomers
Now let’s take a look at what the boomers are looking for when buying a home. The key things boomers want is to have money left over for retirement, to live close to services (such as hospitals and community centres), and to have areas for socializing, such as space to entertain in the home and backyard.
Grass is not as important in the backyard as we think when it comes to selling a home. A nice patio actually will increase a home’s value by 12%. That means that if you had a house valued for about $300,000 you could put in a $3,600 patio without having to worry, because you’re guaranteed to get your money back and then some.
Carson gives us a couple of simple tips to add a quick transformation to your backyard. If you don’t have the budget to do a complete backyard makeover, pick up a couple of nice baskets or containers and choose some colourful flowers to place inside. Or add a nice coloured container and put a green plant in the top so that you’re not worrying about the flowers to bloom.
Remember, regardless if it’s boomers or if it’s millennials looking at your house, they’re not only looking at it during the day. They may be driving by after work or when they get a chance at night. To highlight the best parts of your home, Carson shows a tall spotlight that can be picked up and placed wherever you want to brighten the space. Backyards have to be lifestyle-appropriate, good for socializing and low maintenance.
Paint colours can also make a huge difference whether it’s on the outside, the windows, the doors, etc. Carson Arthur gives advice when looking for a colour to paint the exterior of your home. Pick a colour chart and hold out the wheel, then go into your neighbourhood and look for colours that are already present. Pull from colours that are there year-round and not only in the summertime. These are the colours that will create a harmonious effect and add a nice warming, welcoming feel to your home — boomers especially want to know and feel that they are part of the community. Don’t make your house stand out by the paint colours you choose — if you want your house to stand out focus on the small projects to do so.
Want some more tips for transforming your backyard? Watch the video below!
Courtesy Carson Arthur