IRVINE, Calif. – June 24, 2016 –What you want in a home largely depends on which generation you come from. Lesley Deutch, a principal at John Burns Real Estate Consulting, studied the top housing preferences by age and revealed insights that can help builders figure out what types of homes to build for each generation.
1940s: Ages 67 to 76
"These buyers will stay active and live anywhere they want. Growth may be seen in urban areas and grandiose second homes near their grandchildren."
1950s: Ages 57 to 66
"This generation will innovate retirement to be about health and family. They may increase demand for multigenerational living and retirement homes near their children."
1960s: Ages 47 to 56
"This generation is more likely to welcome adult kids living with them. They are empty nesters and may gravitate toward remodels."
1970s: Ages 37 to 46
"This generation gravitates to multigenerational living, due in part to foreign-born preferences."
1980s: Ages 27 to 36
"For now, this generation still prefers the urban city living where they are likely to rent due to delayed marriage and children, however, there will soon be a large demand once they want to move to the suburbs for schools and a cheaper mortgage."
Source: "Here's What Homebuilders Think You Want," HousingWire (June 21, 2016)
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