What does color mean to your home buyers and how can color affect their experience? When home buyers see move-in ready color, builders often see a bigger bottom line.
Color is a powerful tool that can help buyers envision themselves in a space and create an emotional connection to the home — in turn, increasing value and helping drive business growth.
Multi-generational households and millennial home buying
To start, it’s important to understand color trends in the context of today’s homeowners and potential buyers.
The growth of multigenerational households, referred to as “Sandwich” households, is the result of a number of factors. These include the aging population, millennials nesting longer, and the demographic growth of ethnicities that have a greater preference for, and history of, environments where parents, children, post-college adults and seniors live together. T
his creates a design need to tie together differentiated spaces while maintaining separate identity with multiple master suites, in-law apartments, and flexible spaces. Color can be a great way to do just that. For example, connect spaces while maintaining individualization by layering colors of various tones, using neutrals as a foundation and then coordinating a palette of accent colors for specific areas.
Millennials are redefining the idea of what a dream home looks like. This tech-savvy generation is sophisticated, has high expectations regarding finishes and customization, and likes less traditional spaces, preferring urban amenities close to cities. Homes using traditional colors or the same colors repeatedly are less likely to capture their attention because it’s important to them that a home feels unique.
More ways to use color to attract customers and close deals
Follow these color tips to capture the imagination of multigenerational and millennial home buyers:
Consider accent colors that are bold and clean, like black, white, and silver. These are reminiscent of the influence of technology when paired with splashes of vibrancy.
The definition of a neutral is changing and drawing inspiration from the earth and sky with deep rich tones like putty, clay, shell, sun, and water. These natural influences feel fresh and modern, while remaining neutral and functional throughout the seasons.
Don’t forget about the fifth wall — the ceiling is considered the foundation of a room. Add dimension and a new look and feel by painting it a color instead of a neutral.
Dark shades make spaces feel intimate and warm, especially in bedrooms and large kitchens. Alternately, highlight architectural details using light colors to celebrate a room’s unique features.