Boomers and millennials are looking to move sooner

Your New Year’s resolutions may not have survived the first few months of 2020, but if buying a new home was on the list, there is still time. And with historically low interest rates, baby boomers and millennials are looking to move sooner making for a fast and exciting market in Charleston. 

Hunter Quinn Homes builds a variety of options across the metro ranging from low maintenance townhomes to single-family homes in rural communities to fit the wide array of families’ needs. 

A dive into the numbers

According to the America At Home Study conducted in April, 35 percent of homebuyers aged 55 and older want to move out of their current homes sooner than they originally planned. Some of the major priorities they cited in the study were health, technology and storage with 46 percent wanting germ-resistant countertops and flooring, 45 percent looking for better technology and energy efficiency, 43 percent needing more space to store food and water, and 38 percent interested in air and water filtration systems.

The only group more motivated to move is renters aged 25-34 and 36 percent of them are looking to own since the start of the pandemic. Overall, 50 percent of renters are ready to take a little more control of their environment. 

New priorities

A large part of the strain put on homes is the requirement to act as more. A home is now an office, a classroom, a restaurant and even a gym depending on your family dynamics. Forty-five percent of millennial respondents to the same survey are using rooms for multiple combined purposes and 31 percent are creating space for multiple home offices. 

These changes prioritize flexibility which we at Hunter Quinn Homes try to solve by leaving you with extra space that can quickly transform into whatever you need at the time. This may be an extra bedroom or even a designated office space that offers a little separation from the rest of the home. 

The timing

Hunter Quinn Homes currently has more than 100 available homes spread from Charleston to North Charleston, Moncks Corner, and Summerville. An available home gives you the ability to move on your own time whether that’s before the start of school or in time to host the family for the holidays. Our staff can also help you plan to build on your lot through Hunter Quinn HomeSights if you are eying a spot outside our current communities.

Mortgage rates are on your side too with a 30-year fixed mortgage rate of 3.150 percent with an APR of 3.420 percent on Monday. Contact one of our experienced lending partners to learn more about your options and how you can earn up to $3,000 in closing costs when you finance through them. Call us to schedule an appointment to tour one of our available homes or models and start on the path to a new home now.