What Generation Y Wants In A Home

January 13, 2011
3 Comments

CityVista

Frankly, the Generation Y label is getting a little tired these days, but since we reported on the fact that this group (born between the years of 1980 and 1990) is more focused on the neighborhood where they live as opposed to the property, this seemed like a logical follow-up.

The Wall Street Journal is down in Orlando reporting from the National Association of Home Builders conference this week and recently had an article about what Gen Y is looking for in a home. In short, the priorities seem to be a house or unit that is in an urban/walkable setting, which also has outdoor space.

From the WSJ report:

“Gen Y housing preferences are the subject of at least two panels at this week’s convention. A key finding: They want to walk everywhere. Surveys show that 13% carpool to work, while 7% walk, said Melina Duggal, a principal with Orlando-based real estate adviser RCLCO. A whopping 88% want to be in an urban setting, but since cities themselves can be so expensive, places with shopping, dining and transit such as Bethesda and Arlington in the Washington suburbs will do just fine.”

The article says that this generation also wants amenities like a fitness center, smaller rooms, showers over tubs and a community room or rooftop area (if in a large complex) where they can have a party. The last point, in particular, rings true for DC as residents in places like City Vista have told UrbanTurf that one of the best aspects of the Mount Vernon Triangle project is that it has a roof where they can take friends when they get tired of sitting around in their condo.

This article originally published at http://dc.urbanturf.com/articles/blog/what_generation_y_wants_in_a_home/2836

3 Comments

Nikki Smith said at 11:54 am on Friday January 14, 2011:
I enjoyed that article from WSJ as well. I fit in with said demographic and recently bought a place in Southwest. Just about everything listed in that article was right in line with qualities I was looking for in my first place.

Kristin said at 12:03 pm on Friday January 14, 2011:
425 Mass tops my list for the Gen Y crowd in the DC market. Their rooftop pool and sundeck with pergolas and intimate seating areas, Wi-Fi, BBQ grills and best of all stunning views of DC…You almost feel like you’re at a swanky rooftop event or venue like the rooftop lounge at Hotel W.

Not to mention all of their latest and greatest amenities, including DC’s fist electric car charging station, and software that emails you when a package or your dry cleaning arrives at the front desk.

Oh, and did I mention, most of their floor plans only offer stand in showers or separate shower and tub? I had a client in the Gen Y age group move their and he’s just thrilled to have all these cutting edge services and amenities afforded to him.

Different strokes for different folks, but definitely Gen Y approved.

Less Than More said at 12:07 pm on Friday January 14, 2011:
I agree with most of the “wants” as well. I think that like New York City, people just want to be close in and the size of their place doesn’t matter all that much (pun intended).