Nov
01

New Home Features That First-Time Buyers Want

November 01, 2009
Edgebrook Glen Chicago

Edgebrook Glen Chicago

Generations X and Y are quickly establishing themselves in the new home market as a new / different type of buyer than that of their parents, or the baby-boomer generations.  The differences are subtle but yet enough to change some very basic thought patterns and design considerations of how to build the next generation home.  Generally, generations X and Y want the same design features as other home buyers, its just that they have subtle differences in their lifestyles, attitudes and priorities.  Sixty-Five percent of the national home sales were made by first-time buyers in the first quarter of 2009.  Builder must take notice and in order to compete, listen to these buyers.

A recent article in Professional Builder magazine detailed these subtle design elements and community attributes that help convince the younger home buyer to purchase a home.    Firstly, smaller, more efficiently used square footage, meaning ‘flex space’ that can be used for more than one application are expected.  Home offices that can be converted into a bedroom for example.  First-time buyers like the modern versions of architectural styles such as Colonial, Craftsman and Victorian exteriors with curb appeal and brightly colored siding.  They also prefer the ability to relax or entertain with outdoor living spaces that flow to the interior of the home.   On the inside, they prefer loft-like feel with high ceilings to enhance the appearance of space.  Communal kitchens that can accommodate several cooks and create, again, the ability to socialize and entertain.

Perhaps most importantly, generation X and Y buyers want location near employment, major highways, mass transit, services, shopping, restaurants and entertainment.   Really, this all comes down to a sense of community and socialization.   This requires density that the last generation of buyers shied away from.

When the housing market regains a footing in the coming years, developers and builder must listen to these buyers as they will be their primary customers.  For more Chicago real estate news, follow Chicagoland Real Estate Forum on Twitter.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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