Panama City Beach Condo Sales
NEW YORK – Oct. 20, 2017 – Home shoppers without children are a growing segment of the housing market, and they tend to want smaller houses than previous generations.
In the latest numbers released by the CDC, the fertility rate among women 15 to 44 years old hit its lowest level since data collection began 108 years ago. And as more couples delay having kids or opt to have fewer children, their housing needs will differ from previous generations who tended to have bigger families.
Fewer than eight in 10 childless buyers purchased a detached single-family home between July 2015 and June 2016, according to the National Association of Realtors®. Condos and townhomes are becoming a popular option among those who do not have children.
“Buyers may value smaller/attached homes in the future,” The Mortgage Reports notes in a recent article. “Increased demand for these types of homes could amp up your resale value.”
In general, detached homes have been known to appreciate faster and hold their value longer than attached homes, according to Tamara Dorris, adjunct real estate professor at American River College in Sacramento, Calif. But that could change.
“We’re seeing more and more people not having children by choice or purchasing homes as singles,” Dorris says. “These people tend to live in urban areas and have homes with less maintenance – such as attached homes.”
Could the rise of childless couples lead to less demand for detached single-family homes?
“If others fit the mold of not having children, there could be a decline in buyers who might have an interest in your detached home,” Mark Lee Levine, professor at the Burns School of Real Estate and Construction Management at the University of Denver, told The Mortgage Reports. “But there is no right or wrong answer as to whether it’s better to buy attached or not attached. Buyers need to consider many issues that will impact the potential interest in their home and when they become sellers.”
Source: “Studies Show Mistakes Childless Couples Make When Buying Property,” The Mortgage Reports (Oct. 15, 2017)
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Life’s A Beach Real Estate is a full service Real Estate Company on the beautiful Emerald Coast. Our headquarters is located in one of the most unique condominium buildings on the beach, The Origin Beach Resort. We have over 700 condos for sale on Panama City Beach as well as beachfront and vacation homes in the world famous 30A area. A large part of our business is Condo sales but we also assist our clients with new homes, investment opportunities, commercial properties, new construction and development.