What millennials, baby boomers want in new home construction

CHARLOTTE, N.C. – When it comes to must-haves in new home purchases, 72% of baby boomers seek out a particular layout or floor plan compared to 56% of millennials, whereas 24% of millennials look for a home that could also provide rental income while 14% of baby boomers do the same.

Seattle-based online real estate firm Zillow Inc. shared findings from its 2017 Consumer Housing Trends Report in a conference call June 20, along with housing research firm Metrostudy.

Millennials now make up 36% of all new home construction buyers, the report found. When looking at neighborhood amenities, 81% of baby boomers prioritize a neighborhood they consider to be safe compared to 69% of millennials. Neighborhood amenities, proximity to work, friends and family, and public transportation are prioritized by millennials more than by baby boomers.

Read more about what each demographic is looking for, here.

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