March 1, 2016 12:04 am
According to a recently released study by the National Association of Home Builders (NAHB), “Housing Preferences in the Boomer Generation: How They Compare to Other Home Buyers,” boomer homebuying activity hinges on everything from location to size and design:
• Sixty-three percent of boomers cited in the study would like to purchase a single-family detached home, a finding in line with the 65 percent of all buyers.
• Seventy-five percent of boomers prefer to purchase a single-story home.
• Fifty percent of boomers express interest in a full or partial basement. This preference appears to decline with age.
• Thirty-seven percent of boomers are willing to purchase a home without a living room. This preference appears to decline with age.
• Just 13 percent of boomers are willing to pay more for a home out of concern for the environment.
• Only 7 percent of boomers prefer to purchase a home in a central city location. Approximately two-thirds prefer to purchase a home in the suburbs (close-in or outlying), and just over one-quarter prefer to purchase a home in a rural area.
Published with permission from RISMedia.