Millennials Prioritize Pets When Buying a Home

dog in yard

Millennials in America are putting their pets first when it comes to finding their dream home, according to information from a Realtor.com survey.

A recent CNBC article delved deeper into the story, reporting that a whopping 73 percent of millennials currently own a pet. This information comes from the results of a recent survey from the American Pet Products Association. If you focus on those millennials who are also home buyers, the statistic is even greater. A full 89 percent of millennials who bought a home so far in 2018 currently own a pet, according to Realtor.com.

With so many millennial home buyers eager to keep their furry companions happy, it should come as no surprise that home builders and existing-home sellers are trying to cater to their desires. Luxury landlords, CNBC’s Diana Olick writes, have long been catering to this demographic, offering perks and amenities like dog run kennels on the rooves of rental towers or pet salons in the lobbies.

Nearly 80 percent of millennial home buyers who closed on a property this year said they would pass on an otherwise perfect home if it did not meet the needs of their pets, according to the Realtor.com survey. What needs are they referring to? Mostly outdoor space. Having a yard or at the very least a park nearby, were top priorities for pet-owning home buyers.

Having additional indoor space was also important. For cat owners, having an optimal space for the litterbox was ideal. Other concerns included having stairs, having a fenced yard and a dog grooming/bathing station.

“More affluent buyers want a dog grooming station in the mud room,” writes Olick. “Also being near pet-friendly restaurants and pet supply stores is a big plus, especially for young urban buyers who might not have a car.”

Knowing this, home sellers that want to appeal to younger buyers or those with pets in general, may want to consider playing up their property’s pet-friendly selling points. Here are a few ideas:

• Have a fenced backyard? Make sure your agent features it in your listing.
• Is the fencing high enough to keep pets in and other animals out? Be sure to mention it to prospective buyers during tours/open house.
• Is your home near a park? Dog-friendly businesses/restaurants? Highlight those when you’re talking up the home’s location.
• No mud room? No problem. Consider adding (or suggesting your buyers add) a dog grooming station in the garage or just outside the back porch).

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