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
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