ORLANDO, Fla. – Generation Z is optimistic when it comes to real estate investments and is showing a lot of interest in homeownership despite a young age, according to a new report by PropertyShark.com, a real estate website.
Generation Z includes those who were born after 1995, with the oldest members of the group being 23 years old. The survey polled more than 2,000 renters, owners and adults living with families.
Eighty-three percent of Gen Z respondents said they plan to buy a home within the next five years – and they’re not letting their youth stand in the way. About 100,000 Gen Zers are reportedly already homeowners, the survey found, and they’re less likely to default on their mortgage than baby boomers, millennials or Gen X mortgage holders.
While those in Gen Z are much more optimistic about homeownership than their older peers, the millennials, they do have one thing in common. Both generations agree that “college debt” is the biggest obstacle that could delay them from becoming homeowners.
As real estate buyers, they could be easy to work with: They dream of plenty of space and amenities, but they say they’re ready to compromise on almost anything to keep their costs to a minimum, the study finds. They show a fondness for suburbs (60 percent), followed by urban living (30 percent).
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ORLANDO, Fla. – More newly-built homes are featuring smart-home technology because builders are realizing more buyers want it and are willing to pay the extra costs.
Recent research from John Burns Real Estate Consulting found that more than 60 percent of new-home buyers say they’d pay more for an exterior security camera and smart locks. Sixty percent of buyers also would spend more on a home with a smart thermostat, the survey revealed.
According to a separate John Burns Real Estate Consulting survey of more than 300 home builders, 53 percent say they now incorporate smart-home technology into new construction. Even so, 42 percent of buyers say they would purchase additional smart-home technology.
Buyer segments differed on which smart-home tech they liked the most, according to the survey:
- Young singles and couples: most likely to choose smart thermostats
- Families: most likely to choose a smart garage responsive to app controls and voice commands
- Older buyers: most likely to pay extra for smart locks
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ORLANDO, Fla. – More home buyers are asking their Realtors about green and sustainable home features, according to the Realtors and Sustainability 2018 report from the National Association of Realtors® (NAR).
The report surveyed Realtors about sustainability issues in the residential and commercial real estate markets and the consumer preferences they’re seeing in their communities. Many clients tell their Realtors that environmentally friendly neighborhoods and home features are important to them when it comes to deciding where and what home to buy.
- 71 percent of agents and brokers reported that promoting energy efficiency in listings is either somewhat or very valuable.
- When asked what they consider to be the top market issues regarding sustainability, agents and brokers listed understanding lending options for energy upgrades or solar panels (36 percent), improving the energy efficiency of existing housing stock (34 percent) and the lack of information and materials provided to real estate professionals (30 percent).
- 39 percent of Realtors said they’re comfortable or extremely comfortable answering questions about home performance and efficiency.
- 40 percent of respondents say they’re confident or extremely confident in their ability to connect clients with green lenders.
- 40 percent reported that their Multiple Listing Service (MLS) has green data fields, compared to only 15 percent that do not. Among those that do have green data fields, 37 percent of respondents use them to promote green features, 27 percent to promote energy information and 16 percent to promote green certifications.
- 80 percent said that solar panels are available in their market, and 39 percent said that solar panels increased the perceived property value.
- 23 percent of brokers indicated that tiny homes – 600 square feet or less – are available in their market.
- Transportation and commuting features very or somewhat important to clients: Easy access to highways (82 percent), short commute times and distance to work (81 percent) and walkability (51 percent).
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ORLANDO, Fla. – When it comes to enjoying their home and adding value, homeowners should pay attention to their property’s landscaping, according to The Appraisal Institute.Read More »
ORLANDO, Fla. – What do homeowners say is the No. 1 priority for kitchens? Storage, according to the 2018 U.S. Houzz Kitchen Trends Study.Read More »
ORLANDO, Fla. – Hurricane season will be here June 1, 2018, and lasts until Nov. 30. For the next six months, Floridians face an increased possibility of major storms and should take steps to help weather a severe storm. Forecasters predict the 2018 Atlantic hurricane season will be an active one, anticipating 14 named storms, with seven of those strengthening into hurricanes – and three becoming major hurricanes that are Category 3 or higher.Read More »
ORLANDO, Fla – Florida remained the top destination of foreign buyers purchasing U.S. residential real estate in 2017, with 22 percent of all foreign buyers who bought residential property in the United States. Florida Realtors® latest report, the 2017 Profile of International Residential Real Estate Activity in Florida, finds that international sales hit $24.2 billion this year, up from $19.4 billion in 2016.Read More »
ORLANDO, Fla. — Flush with the pride of homeownership, new homeowners spend an average of $10,600 in the first year of homeownership for household-related items, according to a recent National Association of Home Builders (NAHB) analysis.Read More »
ORLANDO, Fla. — When it comes to selling a home, helping would-be buyers “see” themselves living in the residence can make the process happen more quickly and easily.Read More »
ORLANDO, Fla. — Looking for a remodeling project with strong buyer appeal and a potentially high return when it comes time to sell your home? A kitchen upgrade may be just the ticket.Read More »