How Different Generations Buy Homes

What are people looking for when buying a home? Every home buyer will be different so knowing who you are shopping for and what they want and need during the homebuying process is important.

Younger generations

When looking for a home, there are some things that most younger people are looking for. It is important to keep in mind that the younger generations of people searching are most likely still paying off their student loan debt. These homebuyers could be recent college grads who are just starting off in the “real world” and looking for a home.

Technology is much more advanced now than ever. When browsing for a home, younger generations might look for a virtual tour instead of in-person. This doesn’t mean that they will completely throw out the idea of bringing in a realtor, it just means that they are looking for convenience. You should still be in contact with the buyers and help them through the process of looking online.

Since the homebuying budget might be tight, giving options to expand the search might be a good idea. Talking through all of the options and what might be best for the price range could be very helpful to a new homebuyer who might not know the best options for a smaller budget.

Older generations

When someone from an older generation buys a home, the process could be a little different. Typically, these buyers will have more money to put towards buying a house. Their reasons for buying a home could also be a little different.

Older generations might be searching for their forever home since they could have more money to spend on it. They could also be searching for a home because they are relocating for a job.

Since the older generations might have more money, they might also have a better idea of what to do with their money. Older generations might be looking for more space for a reasonable price in a home, since they could be looking to live there for the rest of their life.

Keep in mind, the younger generations might not have the type of budget to buy the same type of homes as the older generations.