Different generations and different buyer needs

There are several different generations of home buyers, each with their own preferences and priorities, and understanding these differences can help you to craft a home listing and marketing strategy designed to attract the most likely buyer for your property.

That's the advice of Gerhard Kotzé, MD of the RealNet national estate agency group, who says that most Baby Boomers, for example, prefer homes that are spacious and comfortable, with designated spaces for entertaining. "Born between 1946 and 1964, almost all Boomers are of course also over-60, so it is not surprising that they also tend to prioritize security and lower maintenance, as well as locations close to amenities such as restaurants, shops, and healthcare facilities.

"Indeed, while demand from this generation has for many years been the major driver of home purchases in lifestyle estates, many are now downscaling and looking to buy homes in the more upmarket retirement villages."

For Generation X homebuyers, he says, the major preference is for a home that is practical, functional and unfussy. Born between 1965 and 1980, these buyers favour features such as a home office, plenty of storage space and modern kitchens.

"They also tend to prioritize value for money and may be more willing to consider fixer-uppers or suburban homes that require some renovation work, as long as they have relatively large gardens."

Next come the Millennials, born between 1981 and 1996, who are most often looking for a home that is move-in ready and fully 'connected', says Kotzé. "The next most numerous generation after the Boomers, they like Smart home systems, energy-efficient appliances and simple designs.

"They are most likely to be attracted to homes in a secure, walkable area or a gated estate with easy access to shops, schools, restaurants and sports and entertainment facilities. However, there is also trend among Millennials to move back to traditional suburbs, where they are placing a high value on homes with more outdoor space and eco-friendly features such as solar panels or a rainwater harvesting system."

The youngest generation of buyers in the real estate market are dubbed Gen Z, and were born between 1997 and 2012, which makes the oldest among them 26. "They are the first generation of 'digital natives', so it is not surprising that they automatically expect their homes to be equipped with the latest technologies, including Smart climate control, security, entertainment and lighting systems," he says.

"Gen Z are however also the most environmentally conscious buyers, so a bigger differentiator for them is 'green', open-plan home design that maximises natural light and airflow, and the use of natural building materials including wood, glass and stone.

"Most buyers from this generation are only just getting started on their careers so tend to favour more affordable home options such as tiny homes or new apartment and townhouse complexes in convenient locations, especially if these also offer features such as a rooftop garden or a co-working space."  

To target the most likely buyer for your home, says Kotzé, it's important to consider the property's specific features and location and to work with an experienced property practitioner who understands buyer demand in your area and will help you tailor your marketing strategy accordingly.