In 2012, Woodley Architectural Group, which serves Southern California and Denver, designed two BUILDER concept homes, one for boomers (Gen B) and one for younger entry-level buyers (Gen Y). Empty nesters loved the smaller, open home without a formal dining room or guest room that had been designed for entry-level buyers. That project taught him that boomers and millennials have virtually the same needs. For perhaps the first time ever, similarities between a parental generation and the generation it raised far outweigh the differences. They mingle at concerts, over craft beers and cocktails, on bike paths and hiking trails. They’re all foodies. AND: Boomers are in the process of downsizing and getting rid of junk, and millennials don’t have junk. “Neither wants a big yard, but they both want a place for a dog!
We think that the home building industry has focused too heavily on meeting the needs of over-50 buyers while largely ignoring millennials. Builders are finally starting to get that they need to build a different kind of home! Today’s Boomers are looking for different things than in the past. A lot of the things they want—walkable communities, natural light, open space, outdoor living—are also very important to Generation Now.
Excerpted from Builder News: Boomers Move in on Millennial Building Stock!