What do boomers, Gen X, and Gen Y have in common? Their top priority, in terms of amenities, is a grocery store close to their new home.
In its third annual Consumer Insights survey, John Burns Real Estate Consulting asked more than 20,000 new-home buyers which amenities were most desirable in their next community, and ranked the top 25 preferences for each generation. As it turns out, everyone agrees on the second-place amenity as well: restaurants close by.
Generational differences become more apparent as you go down the list. For instance, in the number-five spot, boomers chose a village square; Gen Y a recreational center; and Gen X a children’s park. Skip down to number 14 and you’ll find that boomers prefer a yoga/Pilates studio, Gen X prefers running, and Gen Y wants a dog park.
According to Burns, the major differences in the ranking relate to the presence of children for the younger generations. Dog parks scored higher with Gen Y than the other two groups, and community-wide events are more important to all generations than swimming pools, parks, and other typical amenities. In fact, events and experiences as a whole scored higher than bricks-and-sticks amenities. This suggests that home buyers are reluctant to pay extra for a pool, tennis court, or park they may not use very often.
Read the survey in its entirety here.