The National Association of Home Builders recently released its latest study tracking the evolution of home buyer preferences, to determine how various design elements influence the decision to buy a house. Based on a national survey of more than 4,300 recent and prospective buyers, the results showed some interesting insight into the preferences of different generations: Millennials (born 1980 or later), Gen X’ers (born 1965-1979), Baby Boomers (born 1946-1964), and Seniors (born 1945 or earlier).
- Gen X’ers expect to pay the most for a house – averaging $231,000.
- The preference for a single-story home rises with age: Millennials (35 percent), Gen X’ers (49 percent), Boomers (75 percent), and Seniors (88 percent).
- Millennials and Gen X’ers want a home with more than 2,300 square feet, while Boomers and Seniors want less than 1,900 square feet.
- All four generations listed a laundry room, exterior lighting, ceiling fan, and ENERGY STAR-rated appliances in their top 10 “most wanted” features.
- Millennials were the only generation to have three outdoor spaces in their “most wanted” list: a deck, patio and front porch.
- All generations except Millennials have ENERGY STAR-rated windows and houses in their top 10 list.
- The least wanted features of all four generations included an elevator, pet washing station, wine cellar, and golf course.
This is an interesting article from my monthly newsletter. for all your real estate needs please feel free to call, email, or text anytime.
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