Grouping Homebuyers By Age
Millennials are different from Baby Boomers in many ways, especially when it comes to buying a house. The difference in wants, needs, and financial stability is stark.
Among Baby Boomers, though, how is a buyer born in 1945 different from one born in 1956? Lesley Deutch with John Burns Real Estate Consulting offers some general guidelines for buyer tendencies based on what decade the buyer was born.
Buyers born in the 1940s are affluent, desire second homes, and want to customize their living spaces, while those born in the 1950s flock to masterplan communities and will drive the multigenerational housing market in the near future.
The youngest group profiled, buyers born in the 1980s, are delaying marriage and children, and seek homes built on a small lot.
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