Age Clearly Impacts Preferences in Home Size

The year 1965 can be considered the dividing line when looking at home size preferences among home buyers. The seniors and baby boomers (those born before 1965) clearly have different priorities than the millennials and Gen-Xers (born in 1965 or later).

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An NAHB survey of more than 4,300 recent and prospective home buyers found that more than half of the older buyers want a three-bedroom home, compared to just to 20% who seek to buy a four-bedroom home.

In contrast, nearly half of millennials (48%) prefer a four-bedroom home to just 39% who want a three-bedroom. Meanwhile, Gen-Xers (those born between 1965 and 1979) reported an equal preference for either three- or four-bedroom homes.

The older-versus-younger divide is also apparent when it comes to desired square footage. Older generations tend to look for homes under 1,900 square feet, while the younger generations want to upgrade to at least 2,300 square feet.

More details can be viewed at EyeOnHousing.com.

 

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