Young Buyers Finding Buying New Homes More AttractiveJune 4th, 2013 by DWM Magazine
The National Association of Home Builders (NAHB) is telling young people that now is the time to buy as National Homeownership Month kicks off. Accordingly, homebuilders are building the homes these young people want, according to a recent report from NAHB.
“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, homebuilders are delivering homes that cater to the floor plans, features and affordability that this generation desires,” says NAHB chairman Rick Judson, a homebuilder and developer from Charlotte, N.C.
According to a 2012 NAHB consumer preference survey, more than 80 percent of Generation Y say they prefer highly energy-efficient homes resulting in lower utility bills over lower-priced homes without energy-efficient features. Homebuilders are currently doing just that; putting houses on the market that contain Energy Star-rated products, such as doors and windows.
“The time has never been better for young people to become homeowners, whether it be a new home or existing,” says Judson. “There are outstanding opportunities in the current market, with near-record-low interest rates, competitive prices and new homes being built that include open layouts, energy-efficient components and other features that cater to young buyers.”