When renting your property, you have to know and cater to your target market. If you want to sell to younger people, it is important to focus on technological upgrades to make the property more attractive to them. Taking the time to upgrade to solar power, or making the home as smart and technologically advanced as possible will entice younger buyers. These upgrades are easy to make yourself, and with tax credits, savings on utilities, and environmental impact, the advantages are endless.
What’s the Deal with Solar Power?
To a younger renter, being ecofriendly is a top priority. They want to be sustainable, efficient and use renewable resources whenever possible to light, heat and cool their home. Another advantage of outfitting a home with solar power capabilities is that excess power may be sold back to the local utility company. While adding solar panels or other equipment may be expensive at first, the new renter of the home will save money in the long run, which may entice them to pay a slightly higher price when it comes to signing a lease.
Smart Homes Equal Secure Homes
Everyone can relate to the stress of not knowing whether or not the door has been locked or if the thermostat was accidentally left on. If you have these tech upgrades, you can control your entire home from your phone or tablet. With one push or swipe, the owner of a smart home can turn down the heat or make sure that the door is locked.
Smart homes can even be wired to allow an individual to keep watch of his or her property via a smartphone or tablet through a webcam. This may be seen as an added benefit to younger buyers who may be parents who leave their kids at home with a babysitter or want to keep an eye on the dog while they are at work. For instance, having a product like the Ring Video Doorbell wired into your home, you can view whoever is at your door from your phone or tablet wherever you happen to be.
Smart Homes are Easier to Maintain
If your car is having trouble starting or the brakes are starting to go, you may be notified by the car itself through an onboard diagnostic report. The same thing is true with your smart appliances, so if the refrigerator is having trouble maintaining a proper temperature or the washing machine is using more water than normal, you will be notified as the issue happens.
This allows you to troubleshoot minor issues before they become larger and more expensive to maintain. If the fridge or washer decided to overheat or overflow before you knew there was an issue, you could be dealing with significant water, mold and mildew issues. Nest makes WiFi connected thermostats, smoke and carbon dioxide detectors that can alert you to a problem within your home before it is too late to get yourself or others out.
New Features Are Often More Efficient
Adding new appliances, upgrading the home’s siding and putting in new lights and windows can reduce the amount of energy it takes to heat or cool a home. This will create a living space that is comfortable no matter how warm or cold it gets. It also allows you to maintain specific temperatures in each room of the house, which means that you don’t have to heat or cool rooms that no one occupies for most of the day. It also means that the home will have better airflow, which will improve ventilation and prevent attics or basements from becoming too moist due to stagnant air.
Younger renters today have a penchant for technology and being a good steward over the environment. Therefore, making upgrades that can help improve efficiency and make it easier to run the house from afar can help you make the sale to a younger renter if that is who you are targeting.