As the economy improves, young adults who are out of college and starting careers are being wooed from their parents’ place into new homes that fit their unique ‘Generation Y’ lifestyles. From modern condo options like One Pearl Bank in Singapore, to revolutionary smart homes, there is a huge appetite for property among this up and coming generation.
That means high-tech convenience and energy efficiency for young home buyers.
More than 80 percent of Gen-Y consumers, or Millennials – those born in 1977 or later – said they prefer a highly energy-efficient home that results in lower utility bills during the home’s lifetime, instead of a lower-priced home without energy efficient features. That’s according to a consumer preference survey by the National Association of Home Builders taken last year.
New homes frequently feature Energy Star-rated appliances, along with windows, doors and insulation that better control the home’s interior climate. They also include tankless water heaters and HVAC systems that save costs on utility bills if they’re regularly maintained. You may think that there is nothing worse than having to spend a lot of money on things that you consider to be a necessity, such as your heating and air conditioning? And you’re right. But there are cost-effective methods that you can think about, like buying your systems from wholesale retailers similar to National Air Warehouse instead, (click here to find out more) so you can save a considerable amount of money that can be used for other things. That is all well and good, but it is also important that you regularly have your HVAC systems inspected in order to keep them functioning as they should. Removing any dust or dirt that may be clogging the air duct is always a good way of making your HVAC system last longer. Why not consider having a look at the services Willard provides? You never know, cleaning your HVAC system could increase its lifetime. This will mean younger buyers hopefully won’t have to purchase a new system anytime soon.
“As the economy recovers and young people who had to live at home with their parents move forward with their lives and achieve their dreams of homeownership, home builders are delivering homes that cater to the floor plans, features and affordability that this generation desires,” said NAHB Chairman Rick Judson, a home builder and developer from Charlotte, N.C.
Cost-conscious young buyers might be surprised to hear that a new home actually costs less to maintain than an older home.
A NAHB study found that homes built before 1960 have average maintenance costs of $564 a year. A home built after 2008 averages $241. Additionally, mortgage rates are still very low, still hovering below 4 percent, but slowly expected to climb over the next few months.
Gen-Y buyers prefer media and game rooms more than any other specialty rooms. New homes are also outfitted with state-of-the-art electronic and wiring components that can accommodate high-definition televisions, full-house sound systems, hard-wired fire and security alarms and other set-ups. People with homes that perhaps have somewhat outdated wiring, which could use the attention of a professional electrician, may want to reach out to the likes of SCV Electrical who are there to help their customers with their home’s electrical issues.
During National Homeownership Month in June, the NAHB is making a push to draw more young home buyers.
Young buyers, or anyone for that matter, can check out designs and features included in homes built by NAHB members at the group’s social media communities: http://facebook.com/homebuildrs, http://pinterest.com/nahbhome and http://google.com/+nahb.