The homebuyers of today are different than those of 10 years ago. They’re extremely detail oriented, but most people don’t understand the simple details they’re looking for.
When trying to build wealth from property, you must understand it isn’t all about the house you’re selling; in fact, focusing on the buyer is more important than anything—without a buyer, you make no money.
That’s why I study the type of buyer and cater my properties to their needs. It’s a real estate goldmine and I’m going to give you the key…
I tend to talk a lot about the latest generation of homebuyers (right now the millennials) in these Real Estate Riches articles, and there’s a good reason for that.
They’re the ones that are going to be buying from you. Of course there’ll be some older generations shopping around, but the millennials are fresh out of rented apartments, and are finally entering the housing market after much hesitation and roadblocks.
It would be foolish to not consider their needs.
If I was selling food, I’d find out what the patrons want to eat; if I was selling clothes, I’d find out what the shoppers want to wear; if I was selling sports equipment, I’d find out what sport the customers are playing.
It’s no different with housing. Guessing what your customer wants is like trying to win the lottery— you’ll be wrong almost all the time.
Why would I guess what the homebuyers want when I can figure it out with a simple technique?
And, since there’s no generation more outspoken than the millennials, all I must do is listen.
I’ve incorporated many successful real estate techniques this way, but there’s one that stands out to almost all new homebuyers: solar power.
Millennials will do anything to do their part in helping the world environmentally, and it’s up to you to make a profit off that.
It sounds a little shady at first, but you’re simply giving them exactly what they want, while getting a leg-up on your competition.
It doesn’t necessarily mean that you’re going to overcharge them or rip them off, you’ll just be attracting more potential buyers and the value of—and the desire for—your property will increase.
There are some simple ways you can incorporate solar power into your properties that’ll increase their value and millennial appeal.
For example, there are new solar companies cropping up that can cover all your needs in that department.
These new companies tend to specialize in solar products that have a sleek and trendy look, like their new solar roofs—these roofs sidestep the bulky solar panel look by making the solar panels look like real roof shingles.
Other options include solar powered pool heating. While this isn’t as appealing as the solar powered roof, it’s a little added incentive for the millennial if they enjoy swimming in cooler months and would like to save on standard pool heating costs.
There are other benefits from solar powering your properties, like the 30% tax credit you’re able to claim for transforming your house into a self-sufficient power source. This can also be used as a selling point, if needed.
This is just one key that helps you unlock your property millions by catering to the millennial market of homebuyers.
