Gen Y Buyers Coming – But Are We Ready?

This week RISMedia reported that this house-buying will be the first one where most buyers are from Gen Y.

Good news as this niche represents a very interesting pool of buyers for High Performance Homes (HPH) – either new or existing.

According to RISMedia, Gen Y has sat on the sidelines of the housing crisis, picking up lessons along the way.  They are determined not to make the same mistakes as their parents, the they are tired of either living with mom and dad again, or blowing money on rent.  They are looking for cool technology to make the buying process easier.

Despite what they have witnessed, Prudential Real Estate study also found that Gen Y has more positive views on home ownership than other generations. For example, 77% of potential home buyers aged 25-34 say homeownership is “very important.  Only 72% of buyers age 55-64 say the same.

For home performance contractors and programs, Gen Y represents a group of buyers where the total price picture on their next home is very important. Mortgage costs simply will not be enough. They will be expecting information on utility costs too.  The benefits of good home performance will matter, as long as there are data points to back it up.

We may finally be seeing a generation of buyers where efficiency really matters as part of the home buying process!

 

 

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