When people are looking at Boston North Shore homes for sale, different people will have varying tastes. The same can be said for those who are in different generations or groups. Baby Boomers, Generation X’ers and Millennials have different ideas on what they want in a home, especially when it comes to size, price and location. Here is a look at what different types of groups are currently looking at Boston North Shore homes for sale.
Who’s Buying What When It Comes to Boston North Shore Homes for Sale?
Baby Boomers
Of all the groups, many of the Baby Boomers out there are looking to downsize from what they currently own. This is because they are the older generation and may no longer have kids in the house, which means that having such a big home is no longer necessary. Boomers who are in the 51 to 60 group tend to look for homes that are 1,960 or more square feet, with a median price range of 239,000 dollars. Those from 61 to 69 tend to go a bit smaller and not as pricey. But of course, prices and size may vary when it comes to Boston North Shore homes for sale, simply because price factors do come into play in our area more so than in some others.
Gen X
Generation X, on the other hand, is looking to expand on what they own, and typically start looking for homes that are about 2,000 square feet or more, and homes costing above $250,000 dollars on average. A typical buyer is considered to be someone who is 44 years old, makes around $80,000 a year, and wants to see homes between $220,000 to $250,000 dollars.
Millennials
Millennials want homes, however, since they are just starting out, they may not be able to pay for big houses. That is what makes the suburbs such an interesting choice. Living in an urban area can be quite expensive, but houses in the suburbs can be found at a more affordable price, and still allow them to travel to the city when needed.
Common Issue
No matter what group someone belongs in, one issue remains the same: the down payment. Many people still have trouble coming up with the money needed for a down payment, but fortunately there are ways you can receive guidance from our agents in this department when the time come for you to start looking at Boston North Shore homes for sale.
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