Sell Your Home to a Generation X Buyer

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate

If you’re selling your home, it’s a smart move to design some of your ads to reach the Generation X homebuyers. According to the National Association of Home Builders, Generation Xers are expected to rev up homebuying this year because they’re the most mobile among the population cohorts.

MetLife also said that homeownership is important for Gen Xers. In its 2008 study, it found that 70 to 84 percent of married Gen Xers owned their homes.

Gen Xers are those born between 1965 and 1980, so they’re now aged 31 to 45. The bracket is not fixed, as some define Gen Xers as those born after the baby boom generation, putting the dates between the 1960s and the 1970s, and others extend the date up to 1982. Photographer Robert Capa, who coined the Gen X term, said that the generation seemed without identity and facing an uncertain future.

These young adults grew up in an uncertain environment that include the following:

• Two-income households
• Mothers working
• Rising divorce rates
• Layoffs and downsizing
• Release of the First Apple Macintosh computer
• Fall of the Berlin Wall
• The 1990 Persian Gulf War
• First registration of .com domain name
• Release of the first IBM laptop computer
• Launching of the first Microsoft Office

According to MetLife, the Gen X population in 2009 was 49.6 million, with the numbers of men and women about the same. White Americans accounted for 62 percent, followed by Hispanic Americans who accounted for 18 percent. All in all, Gen X represented 16 percent of the total U.S. population in 2009.

John Burns Real Estate Consulting said that Gen Xers represent 32 percent of the homebuying population, which is generally described as consisting of those who are 30 years old and above. The Gen X percentage is lower than that of boomers – 41 percent – but Gen Xers are more motivated to buy a home, as they need to put their families in good homes while they rev up their careers.

When designing your ads, consider the following general characteristics of Gen Xers:

• Internet savvy
• Technology user
• Tolerant about differences
• Accepting towards people from diverse backgrounds
• Independent, self-reliant and individualistic
• Skeptical and cautious
• Multi-tasker
• Reject rules and wary of institutions
• Practical

Based on the survey conducted by NAHB among 10,000 Gen X home buyers and prospective buyers, the following are their insights and preferences:

• 85 to 89 percent believe today is a good time to buy a home.
• 70 percent are willing to spend $5,000 more for green features.
• 46 percent want a large-lot home in suburban developments.
• Many buyers are looking for a flexible floor plan and a connection between interior and exterior spaces.

You don’t have to be a Gen X expert to sell your home to this group. If you’re rushing to sell, contact Tampa4U.com. This team holds a list of motivated homebuyers.