The generations tend to have different opinions about the world. This is no different when it comes to housing preferences. The Silent Generation, Baby Boomers, Generation X, and Millennials want different features and structure when it comes to buying a house. Here are a few differences the generations look at when searching to buy a house:
The Silent Generation and Baby Boomers are looking more at downsizing. Their children have all grown up and moved out. Now they have more space than they need. They tend to look for houses around 1,900 square feet. Generation X and Millennials are thinking about starting or starting families. They need bigger spaces depending on how big they want their family to be. They typically look for a house about 2,300 square feet.
Number of Rooms:
Since they are looking for larger houses for a family, Generation X and Millennials will be looking for houses with 3 or more rooms. The Silent Generation and Baby Boomers are content with only having 2-3 rooms in their house. It provides them with space if their family members visit or stay the night.
Number of Floors:
Since the Silent Generation and Baby Boomers are growing in age, physical challenges may arise that prevent them from going up the stairs. They search for houses with only one floor or with the main bathroom on the first floor. This ensures the occupants will be able to access the needed amenities. Generation X and Millennials are looking for more space and rooms which usually require to build on multiple floors.
Millennials want the most living space out of all generations. A majority want a finished basement to turn into another area they can use as a living area. Less than half the Silent Generation and Baby Boomers find basements to be important when searching for a house.
As stated before, Millennials want the most living space. They prefer the option to expand their living space into outdoor spaces. They ranked decks, patios, and porches in their top 10 most important features in a National Association of Home Builders study. The Silent Generation and Baby Boomers would rather not have an outdoor space to take care of but it is not a large determining factor.