Our last blog post highlighted some of the key differences in the housing preferences of Boomers and Millennials. By understanding these differences, we can create flexible floor plans that will appeal to both generations.
DESIGN FEATURES FOR BOTH GENERATIONS
Boomers are at the age where they may be ready to downsize, or maybe they haven’t saved enough for retirement, so they are looking to save a few pennies. Millennials also want smaller homes because they don’t need as much “stuff,” and they sometimes have difficulty qualifying for financing and finding down payments. The lower price points of smaller homes can mitigate these challenges.
Most buyers in both generations (92% of Boomers and 87% of millennials) find a great kitchen extremely important. After all, it is an entertainment space, and Boomers love to show off their kitchens. Millennials have had access to thousands of recipes from Pinterest and online that have spiked an interest in cooking. Plus, many are coming from apartments with updated kitchens, leading to their desire to not sacrifice their high-end kitchens.
OPEN CONCEPT FLOOR PLANS
Entertaining spaces are very important to both generations, so creating flow from the kitchen to the living room to outdoor space is crucial. Consider using a portion of the open concept for a wine display or wine cellar, especially since 34% of wine drinkers are Boomers – and 36% are Millennials!
Outdoor living spaces are important to both generations, and 78% of Boomers and 68% of Millennials are willing to pay more than $5,000 extra for a great outdoor space. Boomers are famous for their grill nights, while Millennials love their outdoor yard games. A combination sounds like a great party to us!
The bonus of this space is the flexibility that comes with it. Boomers can utilize flex space as a hobby room, such as an exercise area or a man cave, while Millennials may prefer other options, such as an extra bedroom for their growing family.
When downsizing, Boomers don’t need a ton of bedrooms. Their kids are typically grown and out of the house, so they may just want a guest room for visitors or grandchildren. Records show Millennials are waiting longer to have children, so they need fewer bedrooms, too. But having an extra room is still appealing. Think Airbnb!
GARAGE WITH STORAGE
A garage with plenty of storage options will appeal to both generations, even though they’ll likely use the space differently. Boomers appreciate three-car garages with room for their cars and golf carts or other items, while Millennials may like an optional third bay for space to store paddle boards or bikes.
For Boomers, the dog often “replaces” their kids, so including space where they can spoil a furry family member is a great option. Millennials tend to get a dog before they think about marriage and kids. Dedicating space to the family pet, or providing ways to integrate pet-focused functionality into the design, will resonate with both generations.
NOT SO DIFFERENT AFTER ALL
Considering these factors during the design phase can help a home appeal to both Boomers and Millennials. Reaching both generations with one flexible product design is a sure way to find success and capitalize on these growing groups of home buyers.