3 Characteristics Of The Future Gen Z Homebuyer

Published On: May 7, 2019|Categories: Blog, Buyers, Home Buyers, Home Security, Home Sellers, Moving, Neighborhoods, Staging, Things to Do|Tags: Gen Z, homebuyers, millennials, Smart appliances, Smart homes, Smart phones|

The next up and coming generation of homebuyers recently started becoming adult consumers. In the real estate industry, we are already taking note of these young adults because it’s about to account for 40 percent of all consumers by next year. Before long, they will replace Millennials as the largest generation of homebuyers. This post-Millennial generation will have billions in spending power and they are incredibly diverse. Still, they do have some general characteristics shared by many in their generation. It’s time to take note of Gen Z.

Gen Z Is More Anxious About The Future

The New York Times says that this generation is a very hardworking group and they are anxious about the future. They will be looking for a secure living experience. They will likely be looking to become actively engaged in their communities and within their neighborhoods to promote stability and a calm environment for living. Right around seven out of ten people in Gen Z say that anxiety is a major issue in their generation. Those interested in selling their homes to the Gen Z market can take steps to help the property and the home feel calmer.

Technology Shapes Gen Z’s World Views

Members of Gen Z are absolutely going to be seeking out smart homes. They will be looking for homes with smart appliances and other smart systems. They will want to be able to control the thermostat from their smartphone before they leave work to make sure the temperature is set right. They will want to be able to check their robot lawn mower’s productivity for the day while they are on a break from work. They are also going to absolutely need high-speed internet access with no data caps. If your community lacks high-speed internet access, you can appeal to your local government now to try to encourage this service. Remind them that it will be hard for many in the community to sell their homes without internet access suitable enough for Millennials and Gen Z homebuyers.

Gen Z Are Self-Starters

People of Gen Z are statistically better at self-starting. They are more likely to start their own businesses fresh out of high school and they are expected to seek out a home to purchase much earlier than their Millennial counterparts. What this means is that we could begin seeing the effects of this group of homebuyers increase even within the next year.

Are You Thinking of Buying a Home in Dubois County?

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