Building for Generational Lifestyle Goals
Today, Baby Boomers and Millennials make up the largest demographic in the nation. Over the next decade, these two groups of buyers are expected to dominate the housing market as they prepare to purchase new homes. By incorporating design features that are sensible along with wow-factor solutions that pack a punch, you can successfully appeal to both markets, giving them exactly what they want based on their similarities and the lifestyle they are striving to achieve.
The desire to downsize. Millennials don’t have a lot of “stuff,” while Boomers no longer need as much space being empty nesters. Both groups are looking for a smaller size home that utilizes space smartly. Your plans should reflect this simple but very important request.
Offer a great room. Buyers want a space to enjoy and to be themselves. Design your great room to serve many functions. Both Boomers and Millennials desire a space that can be used for an array of living situations and can entertain family, friends and guests!
Focus on fantastic kitchen space. The kitchen is the “heart” of the home. Boomers and Millennials recognize this phenomenon and seek out homes that offer a large and functional kitchen optimized for entertaining and cooking as a family.
Find space for flex rooms. Providing flex space in your plan will appeal to your type of buyer looking for an area to designate according to their needs. Offering spaces that can be used for individual interests like wine tasting and storage, a crafting area, or dual storage/bedroom give buyers a number of amazing options.
Pets are important! A surrogate child to Boomers and an extension of the family before children to Millennials, pets play a precious role in the home. Whether a nook under the staircase or a built-in kennel in the laundry room, pet areas peak buyer’s interests and show buyers that you’ve thought of everyone in the family.
Outdoor living is a premium! So much so that both groups are willing to pay over $5,000 for this upgrade. Treat these outdoor spaces as a part of the indoor living. Don’t skimp on outdoor living areas – these are sure to be one of your hottest selling points!