08/16
How old are you? It may predict your home style preference.
We’ve talked a lot about how different generations have preferences when it comes to communication and customer expectations, so it shouldn’t be a surprise that they have different housing preferences as well.
While every buyer – and transaction – is unique, it’s important for our real estate friends to keep this information in the back of their minds. If you’re a buyer or seller, we hope you find this information helpful, too!
Generational differences are very significant for real estate when it comes to buying and selling. For that reason, in 2013 The National Association of REALTORS® started putting out a yearly Home Buyers and Sellers Generational Trend Report. This report is updated every year based on the annual profile of home buyers and sellers.
Wait, there’s more. A recent survey by HomeAdvisor identified the most popular style of home by buyers’ age. Here are those results. If you click this link, you’ll see the findings are broken down by state, too.
- Baby Boomers and Gen X prefer craftsman homes
- Millennials prefer contemporary homes
- Gen Z prefers cottage homes
Whether these align with your personal preferences, or not, data is always important. Of course, there are many factors to consider when looking at home buying preferences. For a real estate agent, knowing all of the factors and each generation’s preferences can make your job much easier. Catering your marketing efforts, and targeting the right audience for the properties you’re listing, can increase your chances of finding the perfect buyer!
As far as the popularity of preferred housing styles, beyond generations, there are a handful of other factors to be considered, such as; the region the house is in, the climate, the neighborhood, and just personal preference.
It’s important to always ask your clients for their own personal preferences as everyone is different. These statistics can, however, help steer you in the right direction for those who may not be as opinionated. Following the generational trends can give you a great starting place that can potentially get your buyer in a new home fast.
Then, when all parties involved are ready to partner with a title agency ready who gives all of its customers the kind of closing they deserve, reach out to us. We can’t wait to work with you again.