Consumer Reports reveals how to maximize sale price of your home

Wednesday, February 17, 2016

If you want to sell your home, there is a group you may really want to focus on -- millennials.

SAN FRANCISCO (KGO) -- If you want to sell your home, there is a group you may really want to focus on -- millennials.

The generation of Americans between the ages of 18 and 34 are entering the housing market in huge numbers. They are now the biggest group of real estate buyers. Consumer Reports told ABC7 News what millennials are looking for in a home and how to maximize your sale price.

If you're selling your home, keep millenials in mind. They're 75 million strong and house hunting. "Millennials want move-in ready. They want to cook in that kitchen from day one and entertain in the backyard that very weekend," Consumer Reports spokesperson Dan Diclerico said.

Consumer Reports said the right renovations can boost your homes' value by 35 percent.

So, spend your makeover money where it will count the most. A Consumer Reports survey of more than 1,500 millennials nationwide found a modern, updated kitchen tops their list of ideal home features.

And you don't need to spend a lot. For as little as $5,000, you could add a new suite of stainless-steel appliances, new flooring, and a new countertop. You'll have a clean, contemporary look that could lead to a three to seven percent bump in the sale price.

If you have a bigger budget, think about knocking down a wall. Millennials are also looking for an open floor plan with flexible living space, which could increase your selling price another four to six percent. "Another good way to add value is by expanding the living space, maybe by finishing the attic or basement and it's always a good idea to use materials that don't require a lot of maintenance," Diclerico said.

Like countertops made of quartz, which shrugs off heat, scratches, and stains.

Also consider ditching dust-catching wall-to-wall carpet in favor of durable hardwood floors.

And don't overlook the power of paint. A fresh coat, particularly in high-traffic areas, can boost your selling price another one to two percent.

Real estate professionals also said energy efficiency is another strong selling point. Lowering your home's energy costs will also save you money while you live there waiting to sell the house.

Consumer Reports is published by Consumers Union. Both Consumer Reports and Consumers Union are not-for-profit organizations that accept no advertising. Neither has any commercial relationship with any advertiser or sponsor on this site.