The housing market is an uncertain place due to the effects of COVID-19. Still, it’s important to keep an eye on your target audiences and prepare your strategies for when volume returns to normal. Today, we’ll examine millennials, who, as of December 2019, are now the largest home-buying cohort in the United States.
The housing market has changed and millennials, having paid down their student loans (mostly), have recently overtaken Gen X as the biggest proportion of homebuyers.
What appeals to millennial buyers when it comes to purchasing property?
Unlike previous generations, millennials consider more than just utility; the homes they’re into are beautiful, modern and efficient. They like the concept of bringing the outdoors inside — lots of picturesque blues, greens and browns. Millennials also like their bathrooms to have an abundance of glass and stone, and their kitchens islands that have an extra sink, beautiful granite countertops and built-in wine coolers.
Millennials often elect to bypass starter homes, instead going straight for long-term properties. Since millennials are more open to working from home than previous generations, they’re also willing to move into luxurious homes in residential parts of town — they want everything in a house right from the get-go.
Another big differentiator between millennials and previous generations is millennials like homes that are energy-efficient. Environmental issues and their link with climate change is a cause they care deeply about. That means they prefer fluorescent light bulbs, solar energy and panels and lots of natural light/big windows. That also often translates to big open floor plans that combine multiple rooms.
What do these things have in common? They’re all aspirational and beautiful, which makes them ideal for photographs. When you’re preparing a property for sale, make sure you’re taking high-quality photos of these aspirational features for your listing pages. Features like media rooms, wine cellars, playrooms for children and in-home gyms are all a must to include, if available.
And we know that sounds obvious. Of course you want to photograph the most desirable aspects of a for-sale property. But we want to emphasize that these photos should be of the highest quality, shot in the most aspirational way possible. Here’s how one photography publication described the importance of “aspiration” in real estate photos:
“Photographers are being assigned to shoot images that can stir the aspirations of potential buyers with a taste for luxurious amenities, and are often required to shoot more than just interiors. Some of it is about the beauty of the product itself, but some is about being able to convey lifestyle, and in some cases [it’s about] doing both in the same visual experience.”
And then you can…
Reach millennials on Instagram with these aspirational images
Instagram, with its feed of user- and advertiser-submitted photos and videos, is the perfect vehicle for advertising with aspirational images.
Instagram, if you’re unfamiliar, is a social network, primarily used on mobile devices, that has more than 1 billion monthly active users. It’s known for its engaged audience — with 500 million+ people using the app every single day — and its an image-focused platform. Instagram is built for users to show off aspirational, high-quality photos and, oh yeah, it boasts a user base of more than half the millennials in the United States. More than half of millennials use Instagram; in fact — 35 percent of its users are between the ages of 25 and 34, the age in which millennials are entering the housing market.
If you want to reach millennials, there’s no better place than Instagram. Just make sure you have the photos first.