Basements more popular with younger buyers

Basements are most popular with younger home buyers, according to new research.

A study by the National Association of Home Builders, What Homes Buyers Really Want, found that basements are considered especially desirable in homes by younger house hunters and those living in colder climates.

“The study findings show that 76 percent of Gen Y respondents and 74 percent of Gen X respondents would prefer a basement in their homes," says Jim Costello, president of Superior Walls of America. "Once you get to Baby Boomers category that preference drops to 63 percent --- and then down even lower to 54 percent with Seniors.”

"I believe we can surmise from these results that younger home buyers are looking for added living space and easily-accessible storage areas in the homes they purchase," says Costello.

Indeed, for younger buyers who may have less readily-available cash, options such as self storage can be a costly extra that older home buyers may not mind so much. On the other hand, older home buyers "may be ready to 'trim back' on their living space and also prefer one-level dwellings," adds Costello.

Costello points out that the geographic areas where respondents most prefer a full or partial basement in their homes coincides with where Superior Walls precast concrete foundation systems have seen the most sales increase in recent years: the areas of New England, East North Central and Middle Atlantic.

"The study shows that more than 80 percent of respondents in these cold climate areas prefer to have a basement, as opposed to areas of the Pacific and West South Central areas where less than 50 percent of respondents stated a preference for basements."

The same study showed that energy efficient features of products are extremely important to home buyers in all age ranges and in all geographic locations. This does not surprise Costello, whose company has seen steady growth of sales over the years thanks to the energy efficiency qualities of their precast concrete basement foundation systems.

"When homeowners select a Superior Walls basement system, they're adding comfortable, energy efficient living space to their home," says Costello. "Choosing a precast Xi™ or Xi Plus™ concrete foundation can help save on the total heat loss in a home. That's a 'bottom up' consideration that has long-term financial benefits for a home buyer."

Another survey finding illustrates the growing importance of energy efficiency with home buyers, 89 percent of respondents said they would prefer "a highly energy efficient home with lower utility bills over the life of the home" versus just 11 percent who said they would choose a home without energy efficiency features that costs two to three percent less. This preference toward low utility costs reflects a realistic look at the rising costs of energy and home buyer's desires to address this issue at the initial time of purchasing a home.