“This approach enhances living experiences, boosts marketability, and ensures homes meet the specific interests of residents,” she said.
For retirees, communities can offer social events and shared spaces to foster interaction. In contrast, neighborhoods designed for young professionals or families promote lasting relationships through shared amenities.
Ms. Ceresa emphasised that real estate agents align homes with each generation’s design and lifestyle preferences. Millennials and Generation Z favor urban apartments with smart technology and eco-friendly options, while Generation X prefers spacious suburban homes with safety and storage features.
Baby boomers and seniors typically seek low-maintenance, single-storey homes or retirement communities with accessible designs and social opportunities. Economic conditions and collective changes influence generational homeownership patterns, starting with rentals and moving through stages of home purchases.
However, Ms. Ceresa noted that multi-generational living is on the rise, driven by economic pressures and housing affordability issues. While this generational focus meets unique needs, it can also reduce intergenerational interaction and lead to market challenges.
“Understanding specific needs and using available resources allows each generation to make informed decisions and find homes that best suit their lifestyles and goals."
For the full article, see the Saturday 17 August edition of The West Real Estate.