Generation X buyers were born from the mid 1960's to about 1980.
In the first part of this article, there was insight into an aging category of buyer, the baby boomers. Part Two deals with the next generation of buyers, Generation X. These buyers were born between 1965 and 1980 (give or take a year or two on either side, depending on your source). If the greatest number of potential buyers for your home falls under this category, tailoring your staging to appeal to them may give you an extra edge in the real estate market.
Generation X buyers are a shift in several ways from their predecessors, the baby boomers, but not as much as the generation that follows them, Generation Y. Generation X, or Gen X, buyers are frequently two-working parent families or couples. They are usually well-educated and have a fair amount of disposable income. They do not tend to save like baby boomers and have more of a desire for buying homes that are move-in ready.
Older Gen X buyers may have the time and ability to tackle more projects in their next home, but the majority seem too busy with work and family activities to be willing to work on projects. As such, they may be more willing to pay a premium to purchase a house that’s more complete and updated.
Look at other homes in your area or consult a local REALTOR® to see if your home will most likely appeal to a Gen X buyer.
Gen X buyers were among the first to grow up with video games and emerging technologies, so trendy gadgets may have extra appeal for them. They are more concerned with an appearance of wealth and status symbol. They might expect to see more granite counters and stainless steel appliances because of their perceived grandeur. If you are making any updates or upgrades in your home, such as kitchens or baths, consider what would be an appropriate update or upgrade for the generation of buyer that is most likely to purchase your home.
Stay tuned for the final part in this series, which focuses on the youngest generation of buyers, Generation Y!
If you have a home staging question or would like to share a staging tip, please let me know. Send me a photo of your home staging dilemma and I’ll be happy to help!
Home Staging Tip: The color palette of Gen X buyers may be a bit bolder and more sophisticated. All white walls or wallpaper won’t cut it for these buyers. Take the time and effort to make those updates for a quicker sale and more money in your pocket!