When it Comes to Buying a Home, Children Rule the Roost

Parents have long suspected it’s true, but a new study from Coldwell Banker Real Estate confirms it: When it comes to making decisions about buying or selling a home, and where to locate, children may be the defacto “Chief Purchasing Officers” of the family.

The survey, which was conducted among 2,800 parents across three generations, revealed that 79 percent of Millennial parents (parents age 18-34) and 70 percent of Generation X parents (parents age 35-49) said most of their major purchasing decisions revolve around their children, including home purchases.


In comparison, just over half of Boomer parents (parents age 50-69) said this was true when raising their family.

Some additional key findings:

• Parents today are more concerned with how moving will affect their kids than before: When thinking about moving homes, two thirds of Millennial and Gen X parents said that they are more concerned with the immediate impact a move would have on their children’s emotional well-being than whether or not it is a good long-term decision for the family.
• Each generation believes they are more involved than the past: All three generations believe they are or were more involved in their children’s lives than their parents were in their life.
• Parents today increasingly want to live near mom and dad: According to the survey, far more Millennial and Gen X parents said it was important to live near their parents or their spouse’s parents than Boomer parents did when thinking of raising their family.

The emotional connection to family members has always impacted major life decisions, including moving to a new home or city, but the Coldwell Banker survey results demonstrate a more striking generational difference between parenting styles than ever before.

Janice Lee
415-832-9151
JaniceFLee@gmail.com
www.JaniceLeeHomes.com
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