Save Money / Consumer News
Generation Y brings new home building trend
LOS ANGELES (KABC) -- If there is going to be another housing boom it may be because of Generation Y. Those are the people born between 1982 and 1995 and there are 75 million of them. As Consumer Specialist Ric Romero reports, what they want in a home is a bit different from what their parents want and builders are taking notice.
"They're really focused on not having rules and not being told how they can live," said Steve Ruffener, KB Homes President.
Ruffner is talking about today's younger home buyers and what they want in their homes. At KB's new home development in Palmdale, one design change includes bigger yards.
"We believe a wide footprint house, this house is 55-feet wide a little bit shallow in depth, gives them great livability and great backyard space because the house isn't as deep," said Ruffner.
Ruffner says the younger home buyers like flexible spacing for the interior design of the home. He goes on to explain how older architectural designs come with already made living rooms and dining rooms. Nowadays, homes are built to have space that is much more flexible. "You've got your great living room still but now they can have a living room, they can make this a formal dining room, they can make this a den or they can make this a bedroom," said Ruffner.
Each year, four million Generation Y consumers are becoming home buyers. They use blogs and websites and social network sites like Facebook and Twitter to do their house shopping, and they want that same technology in their homes. But then they want something as simple as a kitchen island.
"Through the research we found that the island is really where you go to in a party or when you're sitting there together as a family, that's where they gather and that's really the central spot of the home, the nucleus," said Dottie Peak, Pulte Homes marketing manager.
Pulte Homes are under construction in Pasadena and they are being geared towards the environmentally conscious with solar power as a choice.
"With the energy efficiency and the consciousness of the buyers today, we are offering that as an option," said Peak.
So the new home of today is flexible, spacious, technically advanced and environmentally efficient. In addition, it is much less expensive than three years ago.
economy, save money / consumer news, ric romero
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