Generation X?young families and adults ages 31 to 45?are likely to lead the Los Angeles real estate recovery as it gets underway, according to real estate experts who spoke at an educational webinar produced by the National Association of Home Builders (NAHB) in partnership with Builder magazine.? These potential home buyers are most likely to think it?s a good time to get off the fence?and have strong opinions about the design features their new homes will include.
Those born roughly between 1965 and 1978 place a high priority on a kitchen and on amenities like large walk-in closets. As these sons and daughters of baby boomers grow older, their aspirations for dream houses are now dovetailing with those of their parents, and their buzzwords are ?family? and ?informality.?
When the market r
esearch company GfK Roper Reports asked generation X owners of Los Angeles real estate to prioritize the amenities they'd have in their dream home, a state-of-the-art kitchen ranked number one, and large walk-in closets and a fireplace tied for second.? Other desired features in their top ten list included a pool, a game/billiard room, a gym/fitness area, and a workshop/hobby space--all indicative of an emphasis on family activities.
In addition, having grown up with parents who spent much of their time working at jobs and home maintenance chores, these children of baby boomers want an office in their?Los Angeles real estate to accommodate their ability to work from home.? They also prefer building materials which do not require periodic upkeep.? ?Wood decks are what the baby boomer generation grew up with and put on their own homes. But their kids -- Gen X homeowners -- remember annual staining duties and painful splinters from playing on the deck. This generation wants non-traditional materials, including decking made from non-wood products,? says Dan Gauthier, director of consumer products with Universal Forest Products, makers of Latitudes Decking and Railing, a fast-growing composite deck material producer.
Seventy percent of those surveyed by Roper said that they were willing to pay $5,000 more for a green home, but that they expected new homes to already have many green technology features. They also said they would pay a premium for dark wood cabinets, a separate tub and shower, a fireplace in the living room, a great room, and livable outdoor spaces.
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Source: http://www.eileenwalshrealtor.com/Blog/What-Does-Generation-X-Want-in-Los-Angeles-Real-Estate
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