Why Gen X Should Consider Home Building
Instead of avoiding another home purchase because of the lasting hesitation from the Great Recession, it’s time for Gen X to consider a new approach to homebuying: building.
Gen X got hit hard by the housing crisis. In 2008, many people in the generation born between the mid-1960s and the early 1980s were early on in their careers, starting families, buying homes, and taking on mortgage debt—just as prices hit their peak.
When the market crashed and home values tanked, many Gen Xers felt the impact. But luckily, they are also the only generation to have recovered everything they lost—and more—in the years that followed.
Instead of avoiding another home purchase because of the lasting hesitation from the Great Recession, it’s time for Gen X to consider a new approach to homebuying: building.
Capitalize on Peak Earning Years
Right now, Generation X is in their peak earning years. Since 2010, their median adjusted household income has passed that of every other generation—and for many, the peak earning years from 45 to 64 are actively happening or right on the horizon.
In their 50s, men on average bring home nearly $100,000 per year, while women average around $60,000. By allocating that increased income towards custom-built real estate, they can grow their wealth while also getting every feature on their wishlist.
Homes are a Historically Stable Investment
As they bring in more money, Gen X can continue to build wealth by making strategic investments. Along with traditional investment options like stocks, bonds, or IRAs, real estate is a savvy investment for the long-term.
Despite Gen X’s past experience with the housing crash, homes are a historically safe investment in the U.S. Home appreciation continues to outpace inflation, even in areas where home values are traditionally below the national average. By purchasing a lot and building a home, they will increase the resale value of the land while also crafting their ideal living space from the ground up.
A Personalized Living Space
Like every generation, Gen X has specific living preferences. Nearly half prefer single-story homes, while over 40% want at least four bedrooms. Their most-wanted features include a laundry room, ceiling fans, a front porch, and energy efficiency.
While existing homes may only have one or two of these Gen X must-haves, building their own home gives them the opportunity to check off every box. Instead of purchasing and renovating, which can lead to delays in move-in or unexpected costs, they can have the perfect home right from the start.
Building a home with Atmos decreases the timeline and increases efficiency by bringing together your entire core team in one place. Finding your lot, building your home, decorating, and financing all become simple and streamlined by bringing it all under one roof.
Get started on your dream home today with Atmos.
