Are you looking to buy a home? As you may have noticed, one size does not fit all. Everyone has different needs and wants in a home, and different generations want something different than the one before or after.
Your generational home needs are unique and should be embraced, not ignored. Here are some home buying tips for three of the biggest home owning generations today. Remember that every family is different too, so look at these as guidelines rather than rules.
Generational Home Needs: Baby Boomer
Baby Boomers, born between 1945 and 1964, are mostly becoming empty nesters now with children already out of the house, or soon on their way. With a family now shrinking back to two, housing needs are likely less than they were with kids at home.
Baby boomers are often best served by a one to three bedroom home based on their needs for overnight guests and a home office. Selling a bigger home and moving into a smaller one can save money each month on the mortgage payment, or consider buying the home outright to lower your monthly bills during retirement.
Downsizing and urbanizing are great trends here. Moving from a big house in the suburbs to a condo or ranch with walkability and a main floor master bedroom is future proofing future needs when mobility is no longer as easy as it once was, and can save on the budget.
Generational Home Needs: Generation X
Generation X, born between 1961 and 1981, Generation X was known for its counterculture mentality, but now is likely to have kids at home and in school.
For this Generation, a larger home with enough room for the family and a yard for the dog may be desirable. Generation X is at the age where they typically have the biggest need for a home with enough bedrooms for all the kids and everything that comes with it.
Most likely, a Generation X family will enjoy a suburban setting with a yard, garage, and local neighborhood amenities.
Generational Home Needs: Millennials
Millennials, born from 1975-1995, have less predictable generational home needs than prior generations. There is a big mix of millennials preferring to stay in an urban, walkable neighborhood and others who prefer the spacious homes of the suburbs.
Millennials likely don’t have a family yet, or have a young family, so they don’t need as much space as Generation X quite yet, but planning ahead for future family growth isn’t a bad idea.
The Right Realtor for the Right Home
Whether you are a downsizing retiree who would benefit from a specialized agent or a young, first time homebuyer, finding the right Realtor can make all the difference in finding a home you love or a home you regret.
Before you start house hunting, you have to find the right agent. And for that, start your search at AgentHarvest.