“Generation X homebuyers consider themselves deserving of luxury items, and they are not afraid to spend money on them,” said Mark Delaney of The NPD Group at this year’s IBS.
When you consider that there are more than 120 million homebuyers in the 20- through 40-year-old age bracket, and that bracket has a spending volume totaling more than $700 billion, Delaney’s statement is not to be taken lightly.
Clearly, being aware of what the typical Generation Xer looks for in a home can work to a builder’s advantage.
Dawn Michelle Evans with The Evans Group and Ashley Jennings with Kay Green Design Inc. offered a few insites into what homebuyers in this age bracket are looking for. Jennings said that with the emphasis on color and self-expression, this is not your parents’ home.
• Fun colors are in. Taupe and gray no longer appeal to this demographic.
• Good design means clean lines and the use of primary shapes.
• This generation is all about style, so allow for options and upgrades that will allow your buyers to express themselves.
• Style is important, but so is warmth. Design rooms that the buyer will want to curl up in (for example, plush beds and garden bathtubs).
• This generation is having kids, so “family-centric” areas that include lots of seating and “stop-and-drop” centers are important.
• Kids’ rooms should serve as a memory point for both the children and the parents. Select themes that are geographically appropriate (for example, a surf theme for a house on the coast).
• Gen Xers are becoming more environmentally aware, so green is good.