Millennials are the largest generation in Canada, so it’s no surprise that they also make up the biggest share of home buyers. Younger millennials are approaching or entering their 30s, while the oldest are nearing their mid-40s. As they marry, start families, and settle down, many have recently purchased or are looking to buy their first homes.
If you’re selling a home, marketing to millennials is essential. Appealing to the largest demographic of buyers will help you attract competitive offers. While each buyer is unique, there are common trends and priorities that most millennials share when it comes to house hunting.
What Millennials Look for in Homes
Each generation has different homebuying preferences, and millennials’ priorities look quite different from those of previous generations. Here are six key factors they consider when choosing a home:
1. Location
Many older homeowners prefer rural or small-town settings, but millennials are largely drawn to urban and suburban communities. They prioritize connection and community, and living in higher-density neighbourhoods helps meet those needs.
Younger millennials may prefer condos or houses in major cities with access to public transit, parks, shopping, and restaurants. Older millennials who are starting families often look for suburban homes but still value walkable neighbourhoods with strong community amenities.
2. Size and Affordability
Affordability is one of the biggest concerns for Canadian millennials. Rising home prices, stagnant wages, and the high cost of living have made homeownership more challenging than it was for previous generations. With housing supply at historic lows in many cities, millennials are adjusting their expectations and prioritizing smaller, more budget-friendly properties—especially first-time buyers.
3. Open-Concept Layouts
Open floor plans remain a top priority for millennial buyers. They allow for more connection between family members and create an inviting space for socializing. Homes with open-concept layouts often sell faster and at higher prices compared to similar-sized homes with more traditional layouts.
4. Smart Home Technology
Millennials grew up in the digital era and are quick to embrace new technology. They appreciate smart home features such as automated lighting, smart thermostats, and security systems.
Technology and sustainability often go hand in hand, as many modern appliances and home systems reduce energy consumption. Features like solar panels, energy-efficient windows, and upgraded insulation can significantly boost a home’s appeal.
5. Home Office Space
With remote work now more common, many millennials look for homes with dedicated office space. Even a small nook or spare bedroom that can be converted into an office is a major selling point. If you’re listing your home, consider staging a workspace to showcase its potential.
6. Storage Solutions
Many millennials favour a minimalist aesthetic, but that doesn’t mean they don’t need storage. They value functional, well-organized spaces that reduce clutter. Homes with ample closet space, built-in shelving, garage storage, and sheds often attract more interest from millennial buyers.
How to Market Your Home to Millennials
Millennials make up a massive portion of home buyers, so tailoring your marketing to their needs can help you sell your home faster and for top dollar. Here are five key strategies:
1. Appeal to First-Time Buyers
Most millennial home buyers are purchasing for the first time, so positioning your home as a great option for first-time buyers can make a big difference.
- Move-in ready homes tend to be more attractive, as many millennials lack the time or budget for major renovations. Completing key upgrades before listing can make your home stand out.
- Many first-time buyers in Canada rely on government-backed mortgage programs like the First-Time Home Buyer Incentive or the Home Buyers’ Plan (HBP). Being open to buyers using these programs can expand your pool of potential offers.
2. Upgrade Your Outdoor Space
Millennials value outdoor living and entertaining. Backyards with patios, decks, fire pits, or landscaped gardens are strong selling points. If your home has a great outdoor space, highlight it in your listing and ensure it’s staged for showings.
3. Keep It Minimal and Modern
Millennials prefer clean, uncluttered spaces with a modern feel. When staging your home:
- Remove excess furniture to make rooms feel larger.
- Use neutral colours and simple decor.
- Maximize natural light by opening curtains and blinds.
4. Invest in High-Quality Listing Photos and Virtual Tours
A strong online presence is crucial. Millennials typically browse home listings online before booking a showing, so professional photos and a 3D virtual tour can make your home more appealing. Virtual tours are especially useful for out-of-town buyers who may not be able to visit in person.
5. Leverage Social Media
Social media plays a big role in how millennials search for homes. Many real estate agents in Canada now use platforms like Instagram, Facebook, and TikTok to showcase properties. If you’re selling, ask your agent to market your home on social media to reach a broader audience.
Millennials value affordability, functionality, and modern design when searching for a home. To attract millennial buyers, highlight these features in your listing and use digital marketing to showcase your property effectively. With the right approach, you’ll increase interest and boost your chances of securing a strong offer.
Selling Your Home? Start with Experience That Delivers.
At Liv Well Group, we take the guesswork out of selling. With decades of expertise and a strategic approach, we position your home to attract the right buyers and achieve the best possible price—fast and stress-free. Contact us today for a FREE consult.
