Baby Boomers Housing Preferences

Dated: February 29 2016

Views: 265

NAHB study: Boomer generation housing preferences

WASHINGTON – Feb. 26, 2016 – Based on a nationwide survey of recent and prospective homebuyers conducted in 2015, The National Association of Home Builders (NAHB) compiled data to answer one question: What do today's baby boomers want in a home?

NAHB released the information in "Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers," a study recently released by NAHB's publishing arm, BuilderBooks.

The study discusses the way various designs influence the home purchase decision; the location, features and size of the homes consumers want, and the influence of certain events and people on the decision to move to another home.

"As the housing market continues to recover, more consumers are in the position to purchase a home, and it's important for builders to have this knowledge about their customers," says Rose Quint, NAHB's Assistant Vice President for Survey Research

Buyer key points

  • 63 percent of boomers would like a single-family detached home.

  • 64 percent of all buyers prefer a single-story home, but 75 percent of boomers prefer to avoid a second floor compared to 35 percent of millennials, 49 percent of Gen X'ers and 88 percent of seniors.

  • Boomers like living rooms (63 percent). When asked if they would buy a home without a living room, 37 percent of all buyers say they would; 42 percent would not and 21 percent are not sure. However, the demand for a living room rises with age: Millennials (43 percent would forego a living room), Gen X (40 percent), Baby Boomers (37 percent) and seniors (26 percent).

What buyers don't want

  • Few buyers (8 percent) or boomers (7 percent) prefer a central city location. About two-thirds prefer a home in the suburbs (close-in or outlying), and just over a quarter prefer a rural area.

  • Only 14 percent of buyers overall (13 percent of boomers) are willing to pay more for a home out of pure concern for the environment.

© 2016 Florida Realtors®

Latest Blog Posts

Dealing With Popcorn Ceilings

Popcorn is great with a movie or possibly for stringing around an old-fashioned Christmas tree, but it’s a little less universally loved when it’s applied to the ceiling as a texture. “Popcorn

Read More

Oct 1 2020 71067 1

Where Are Home Values Headed Over the Next 12 Months?As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market.

Read More

Sep 1 2020 71067 1

Builders & Realtors Agree: Real Estate Is BackWhen shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit.

Read More

Aug 3 2020 71067 1

Read More