Who Will Lead Hawaii and the Rest of the Nation to Housing Recovery?
If you guessed the Gen X, you are absolutely right!
According to a recent webinar, produced by the National Association of Home Builders, Generation X is expected to lead us to the promised land. 10,000 buyers in 27 metro areas were surveyed and this demographic, ages 31 to 45, were planning to buy.
They are not the largest population group, only 32% compared to 41% of baby boomers, but they are the most mobile. That leads me to believe multiple purchases and sales in a lifetime. The Boomers are downsizing, but not Generation X. They are in full swing with their careers, and now they are settled, they need to accommodate for their families.
Here are some criteria of the Gen X buyer:
- They are looking for room to grow, so larger lots are preferred.
- They want something compelling, from a design standpoint.
- They want “green,” energy-efficient features (70% say they are willing to spend an additional $5K for a home with more “green” features).
- Only 21% said they are looking for a traditional, walkable neighborhood.
Some other random preferences include dark wood cabinets, separate tub and shower enclosures, and a fireplace in the living room. Keep in mind, this survey was done by the National Association of Home Builders.
With that in mind, take a look at my Hawaii “Green” and Energy Efficient Homes Gallery for homes of that type on Maui. I can also help you find a home with a large lot, or some compelling architecture! Contact me.