The demographics of people buying homes can be dizzying. Old, young, kids, no kids, urbanites, suburbanites, men, women…and everyone seems to want something different! One of the most interesting demographics are younger home buyers. They could be buying their first of many homes over the course of their lifetime, so they might represent repeat customers.
Redfin has some interesting thoughts about what they want. Let’s review this battle of the sexes:
- Younger men and women have different timelines when buying: Women buy with long-term intentions, while men buy with a short-term outlook. As a builder, it’s important to know your customer and who is driving the purchase decision. A man might be OK with something good enough, whereas a woman might hold out for that perfect house.
- Younger men are all about urban living, while younger women prefer the suburban lifestyle.
- Want women to buy houses? Maybe start hanging around bridal boutiques. For younger women, home buying and marriage go hand-in-hand. Younger men on the other hand see buying a house as an investment that is disconnected from marriage.
What do you think of these male-female differences in the younger set (defined by Redfin as under 35)? Have you seen this in your work or in your life?