Housing Preferences across Generations (Part III)

A majority of home buyers across all generations, whether Millennials, Gen X’ers, Boomers, or Seniors, want to buy a single-family detached home and most want to see the laundry equipment on the first floor. A majority of the oldest two cohorts also prefer single-story homes. These findings come from the latest NAHB study on housing preferences, Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers.

When it comes to the type of house they would like to buy, 65% of all buyers prefer a single-family detached home. Looking at the data across generations shows that a majority of each of the four groups also prefer that type of home, ranging from 72% of Gen X’ers to 55% of Seniors.

SF Detached

Although a majority – 64% – of all buyers in general would prefer a single-story home, it is important to point out that this trend is driven primarily by older buyers. Whereas 75% of Boomers and 88% of Seniors want one-floor living, the share is significantly lower among Millennials (35%) and just under half among Gen X’ers (49%).

Single Story

Yet regardless of how many stories they may want in a new home, most buyers of all generations want the washer and dryer to be located on the first floor of the home. All combined, 68% of buyers want the laundry equipment on the first floor, an opinion shared by 51% of Millennials, 60% of Gen X’ers, 74% of Boomers, and 83% of Seniors.

Washer

This is the third post in a series exploring findings from Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers. The first and second posts are available, as well as a more complete article.

Note: This study was sponsored by Reverse Mortgage Funding (RMF) and Beazer Homes.



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