In a recent consumer preference survey conducted by the National Association of Home Builders (NAHB), it was found that if given a chance to own a home, the Gen Y of America would prefer to own a super-energy-efficient home.
According to the survey, 80 percent of the 'Gen Next'- those born after 1997- respondents said that they prefer a home that has high energy saving abilities and wanted a house that could go easy on their wallets, maintenance wise. Apparently, they would like a new home that would save much on their utility bills rather than an old home stuffed with energy-saving appliances.
The new generation home buyers also prefer to have game rooms and media rooms in their new homes rather than any other specialty rooms.
Considering the overwhelming response from the upcoming generation of home buyers, builders have turned their attention toward building homes that cater to the exact demands of these buyers.
"As the economy recovers and young people who had to live at home with their parents move forward with their lives and achieve their dreams of homeownership, home builders are delivering homes that cater to the floor plans, features and affordability that this generation desires," Rick Judson, chairman of NAHB said in a statement.
These homes are more affordable than regular homes. Young buyers can easily avail a mortgage to fund their purchase. Mortgage rates recently rose to reach the highest level on a year-on-year basis.
Builders are urging young buyers to go for a purchase soon. Industry experts say that the market conditions are ripe for a home purchase now as the prices are right and many new homes are being built. Besides, since June is the National Homeownership Month, this seems to be the best occasion to buy a house.
"The time has never been better for young people to become home owners, whether it be a new home or existing," Judson said. "There are outstanding opportunities in the current market, with near record low interest rates, competitive prices and new homes being built that include open layouts, energy efficient components and other features that cater to young buyers."
Meanwhile, Green Buildings are gaining much popularity now. In a recent survey by McGraw Hill Construction, it was revealed that a number of companies are moving or planning to move their operations to "Green Buildings". The report surveyed around 62 companies around the world.
Check out some of the greenest buildings of the world, here.
