While Millennial and Empty-Nester are decades apart in age, when it comes to home buying they often look for the same qualities: quiet sanctuary, comfort, upgrades and low-maintenance. For Baby Boomers, luxury living was commonly thought of as large homes on acreage. Today the allure of a custom home on a low-maintenance lot has both Empty-Nesters looking to downsize as well as first-time home buying Millennials in the market for the same type of home.
LOCK AND LEAVE LIFESTYLE
Builders have noticed the need for low-maintenance living and are designing and constructing luxury homes designed to do just that. Thoughtfully designed, moderate square-footage homes, with custom upgrades throughout, on zero-lot lines is the new building trend.
The perfect design for Empty-Nesters, young professionals and families who don’t want their time to be consumed with the upkeep of an expansive home or property. The lock and leave lifestyle allows the freedom to travel or just enjoy all the amenities Central Coast living has to offer rather than being tied to household chores.
Once the kids are gone, many home-owners are deciding between remodeling their existing home or start looking for a new home. The daily maintenance and upkeep of lawn, landscape and cleaning can cut into valuable time spent relaxing, traveling and pursuing much-loved hobbies.
Remodeling a home designed for larger families can often be an expensive, daunting task. Many home buyers have decided to find a new home designed to meet their pre-sent-day lifestyle. The perks of new construction in a luxury community, such as builder home warranties offers peace of mind for future maintenance and upkeep costs for homeowners.
Millennials are not interested in fixer-uppers the way past generations have been, and do not budget for significant repair and maintenance costs when planning to buy a home. According to the National Realtors Association, nearly half of millennials who bought newly built homes did so to avoid major repairs and renovations.
Another important factor for these young home buyers is value for money. They want unique details, not cookie cutter layouts, made with durable high-quality materials. Zero-lot line developments allow home-buying dollars to be invested in custom upgrades within the home which make them an appealing option.
In order to satisfy the growing demands of both Millennials and Empty-Nesters, low-maintenance, luxury living will continue to be a building trend in future neighborhood developments.
For an example of low-maintenance, luxury living, check out Oak Arbor Court, Arroyo Grande’s newest neighborhood.
About CENTURY 21 Hometown Realty – Hometown Realty is the leading real estate firm on the central coast of California with offices spanning Santa Barbara County and San Luis Obispo county offering expert agents and convenient locations.