Signing on the Dotted Line.......Sooner!

Could it be Mom and Dad are right—it’s better to own than to rent? The twenty-something crowd seems to be taking this advice to heart, considering the numbers from the 2006 U.S. Census Bureau. These days, 42 percent of people between the ages of 25 and 29 are homeowners and those numbers show no sign of slowing down.

“I think the perspective of wanting to own something, wanting ownership, have become more important to the young professional,” says Jim Swingle, director of sales and marketing for 1st American Builders. Swingle says his Renaissance Park Townhomes, at the corner of 401 and Tryon Road near downtown Raleigh, has been extremely popular with young professionals. “Whereas there may have been a time when renting for five or ten years to save up a down payment to get into a home was more acceptable. Our buyers today, they don’t want to wait.”

As a result, builders and developers nationwide are exploring this demographic and are eager to design and build homes and townhomes that inspire commitment among young professionals. The Triangle is no exception and offers many of the amenities these potential homeowners are looking for.

The Mindset

The mindset Hampton Pitts, division president of Centex Homes, says location is most important to young professionals—especially regarding shorter commutes, but also entertainment venues. Greenbrier, a town home community near Triangle Town Center, has been especially popular, as have many other Centex communities, known for high style and a low price.

As first-time homebuyers, young professionals are usually a little nervous about their purchase, often bringing a parent with them, says Pitts.

“I believe the young professional is usually more flexible in their buying choice than many other buyer types,” says Pitts. “They want convenience, value, quality and something they can look back on in a year or two and feel good about their investment. In most cases, they don’t see themselves staying in that home for more than 5 years, so making a sound investment in a quality home by a reputable builder is critical to them.”

Scott Dixon, a partner with Beacon Street Development Company, is seeing a lot of interest from young professionals in Davis Park and Waterford at Cary Glen, a mixed use community offering condominiums, lofts, row houses and single-family homes from $149,000 to $379,000. Many of the buying patterns of young professionals, he says, reflect our culture at large.

“I think it’s important to recognize and understand that the rise of nontraditional households over the past 25 years has changed the housing landscape, Dixon says. “In addition, because more young professionals live alone and wait longer to marry and have children, they tend to prefer close living—compact apartment, condo, loft and townhome product types where they can interact with their neighbors.  Their home designs tend to emphasize open space, ample light and flexible room uses.”

The Technology
 
The technology Young professionals are also often idealistic and spend a lot of time cultivating political interests and environmental concerns. Some are looking for ‘green’ housing, in addition to amenities, location and fiscal responsibility.

Christopher (Kip) Guyon, president and COO of Anderson and Vanguard Homes, says young professionals are attracted to the fact that all of the company’s homes are built to Energy Star standards, as well as the fact that the company was just recognized by the US Department of Energy and the EPA as an Energy Star Partner of the year.

“We feel young professionals really value the personal savings offered by our Energy Star homes, but are also excited to be part of a larger societal trend towards reducing energy consumption. We are also finding that ‘green’ features, such as energy efficient lighting and water fixtures are also becoming more popular. We offer several ‘green’ options in our Design Studio,” says Guyon, noting the company has several communities geared toward young professionals with square footage ranging between roughly 1,200 and 2,000 square feet.

Technology is important to the young professional. As a result, most new homes, townhomes, lofts and condos in the area are pre-wired and ready for the technologically savvy.

“Features such as wireless interface, surround sound and home theater systems are becoming more and more popular,” says Guyon. In fact, builders and developers really have to keep on top of new technology trends, at the risk of getting left behind.

“A few years ago it was surround sound that was the cutting edge,” says Pam Schawel, vice president of sales and marketing for Standard Pacific Homes, with nine communities in the Triangle ranging from the $140s to the $400s. “Now it’s being able to plug in your I-Pod to your home sound system and having
wireless internet in the home. The young professionals follow the latest technologies.”

The Amenities

Like everyone, young professionals love the extras—amenities both in the home and in the community. And since the ‘young professional’ demographic is not always single or childless, this means many communities feature at least some amenities, including playgrounds, pools, walking trails, clubhouses, weight rooms, business centers and proximity to daycares, schools and restaurants. Builders are also diligent about creating unique homes with character and appeal.

“Almost all of our new neighborhoods contain their own amenities center and offer a wide range of house styles like transitional, Charleston, Victorian and Colonial, that fit individual needs,” says Dallas Berry, production manager at Homescape Building Company, which currently has townhome and single family communities in Carrboro, Chapel Hill, Cary and Holly Springs.

Indoor amenities are important as well to young professionals. Berry says the average age of those buying his communities are between 34 and 40 years old.

“Young professional couples are looking for better quality and custom features that set their homes apart,” Berry says. “They like all the features that many builders consider upgrades. They want to know they are getting their money’s worth in more than just square footage.”

Guyon says many of his buyers want low maintenance or no maintenance as well as interiors that are open and conducive to entertaining.

“We are also seeing a trend towards glamour master baths and ‘flex rooms,’ as they entertain on a frequent basis,” says Guyon. “Gourmet kitchens with large center islands, cook tops and wall ovens are also very much in demand.”

These days rarely do buyers have to settle when they’re considering new construction; most builders offer an array of upgrades and choices with upscale designs built into the floorplan.

“Our buyers appreciate creative new architectural styles that do not look ‘cookie-cutter,’ as well as interior designs that offer creativity and options that allow them to personalize their home,” says Centex’s Hampton Pitts. “Finally, a high quality community that places an emphasis on open space and landscaping is important.”

Seeing is Believing

These two and three bedroom row houses at Davis Park
feature a multi-level floor plan that is distinctively designed
to be both modern and traditional fpr young professionals.


When it comes to shopping for a new home, seeing is always believing. Peruse the “Homes side” of this magazine and find what best suits your needs, whether it’s technology, design, numerous amenities or architectural detail and open space. You’re sure to find something exciting in the Triangle. The landscape of real estate changes here every day—and sometimes comes around full circle.

“Some young professionals want an authentic feel to their homes and neighborhoods,” says Dixon. “Older neighborhoods evolved over time, creating an architecturally interesting and diverse look and feel. Residents felt as though they were part of something bigger, yet maintained their individuality. New neighborhoods and homes that are designed to take on the appearance of having been developed over time are appealing to this younger market segment.” 

Christa gala is a Freelance Writer