Chart Of The Month: Elasticity of Demand
Dec 05, 2018
Housing Trends
What men and women want in a new home are not completely different. What are women’s and men’s top 5 wants in a new home? How do you address both sets of wants while acknowledging who has the most influence in the decision? My research shows that women have 92% of the decision making when it comes to a new home purchase. Both men and women want a home to shout “comfortable” but how they get there is a little different.
Men’s top wants have connections to TV watching, work and family:
He wants a comfortable room to be able to relax and turn on the TV, maybe with his family joining him. As jobs have become more flexible, it’s nice to be able to work in the comfort of your own home.
Women are looking for a lovely retreat into their master suite with its inviting bathtub. She also wants a nice room to spend time with her family. Woman are less concerned with the size of the space, and more concerned that it functions well. We all have a lot of “stuff”. Where do you put it? I remodeled a coat closet in my own home into a pantry that doesn’t waste one inch of space. Woman can certainly relate to my wonderful pantry and its smart use of space. To a woman, better organization equals more time with family.
My research is drawn from home shopper lists provided by builders and developers across the nation, and reveals that owning a great home for a man is a sign of accomplishment that defines success, and he’s more concerned with location and outward-facing issues, whereas for a woman, the inside of the home is important, and how it will engage and serve whatever family means to her.