What Florida’s young, old and in between want in a new home

by James McClister

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Earlier this month, Lesley Deutch, a principal at John Burns Real Estate Consulting, hosted a panel featuring three of Florida’s most distinguished builders – Stock Development, David Weekley Homes and Homes by WestBay. Among the topics the trio discussed was demographics, and how certain age groups prefer certain styles and home types. The builders revealed that the preferences between generations were so defined that they can, in fact, build homes to target each age group.

Here’s what Deutch learned about how Florida builders are constructing to satisfy each particular age demographic’s new construction needs:

Achievers – 1940s (aged 67-76)

“Affluent, and will innovate retirement to be about health and family. May move several more times. Will drive demand for multigenerational living and active retirement near kids.”

Equalers – 1960s (aged 47-56)

“More likely to welcome adult kids living with them. Empty nester life more likely to include a remodel. Will be the first generation to rely on 401(k) and to be shorted on Social Security”

Balancers – 1970s (aged 37-46)

“Multigenerational living, partially due to foreign-born preferences. High achievers made it through a bad economy, but with less affluence than they deserve.”

Sharers – 1980s (aged 27-36)

“More likely to rent and live urban due to delayed marriage and kids as well as huge improvements in big city living. A big boom will come when they move to the suburbs for affordability and schools.”

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