Working with multigenerational buyers in real estate

There is all sorts of advice on marketing homes to baby boomers, millennials, and so on. But what about when you are working with multigenerational buyers a household of more than two generations?

RISMedia’s Senior News Editor’s Zoe Eisenberg offers some tips on pleasing everyone in the family when house shopping.

1. Make sure everyone is on the same page. When working with a multigenerational buyer, you will likely be lugging mom, dad, grandma and grandpa (and maybe a second cousin or four) around to showings. Before you begin your property search, request that everyone is on the same page with needs and wants. That way, if a home with a separate “in-law” suite is a must-have, you will know before you head out, saving time and energy. As an agent, don’t shy away from involving the entire household in the discussion before a search has begun. You never know who has the final say.
2. Consider space and accessibility. Accessibility is crucial with multigen buyers. A home with an abundance of stairs—or even five stairs up to the front door—may be too much for grandpa’s knees, and this is important to consider from the get-go. Open floor plans and wide doorways are common multigen must-haves, as they make moving around a breeze for everyone under the roof. In-law suites with their own private entrance can also help bolster the older generation’s independence and accessibility.
3. Seek versatility and privacy. When three or more generations are sharing a space, that space needs to be versatile, as it will likely shift over the next few years as family members age and needs evolve. A home meant to meet the needs of a six-year-old child and a 65-year-old grandparent will likely be outdated when the child is 16 and the grandparent is 75. So, seek homes with spaces that can rotate; perhaps grandma will need to move into that first-floor bedroom, and little Timmy—who is not so little anymore—will really enjoy that finished basement as a private hangout for him, his friends and their gosh-darn rap music.
4. Find adequate storage. An extra generation means an extra lifetime of stuff. A home with above average storage space will be necessary. Look for an abundance of closets, a spacious attic or a garage with space for shelving.

Just like any other buyer, multigenerational shoppers will have specific needs in mind. Below are a handful of typical multigenerational requests:

• Main floor bedroom, living area. For those who may have trouble tackling stairs, easy-to-access bedroom, kitchen and living area may be on the want list.
• Finished basement or playroom. Space is key when the house is full, so a finished basement or playroom may be key for keeping the kids—and parents—happy.
• Nearby public transportation. Is there a bus stop nearby so seniors who are unable to drive can savor their independence by catching a ride somewhere?
• Top tech. These days, many homes have automated technology built-in. Auto locking doors or appliances that shut themselves off may be key for living with forgetful kids and seniors.