DESIGN
BABY BOOMER APPEAL
Design is Crucial to Attracting Discerning Baby Boomers BABY BOOMERS ARE EXPECTED TO DRIVE THE BUILD-TO-RENT SFR TREND FOR SEVERAL YEARS AS THEY RETIRE, MOVE TO WARMER CLIMATES, AND DEMAND HIGH-END LUXURIES.
by Bruce McNeilage
t’s been well-documented that the single-family rental
selecting a granite or quartz coun- tertop to create a dream kitchen. Another reason to pay attention to design is more retiring baby boomers are entering the SFR market. They will push demand for higher-end luxuries. TAKING SFRUPSCALE The biggest change taking place in the SFR industry is catering to higher-end tastes. Several SFR operators have build-to-rent SFR houses to tap into this emerging demand. These houses will be larger and located in more affluent ZIP codes. Larger spaces and higher-end finishes will mean increased rents, likely ranging between $2,500-$4,000.
If you are going to ask for higher rent, you must deliver a property that is truly exceptional. The fol- lowing are some of the design elements to help you stand apart from the competition. FAMILYROOMS Most customers demand more open floor plans with sight lines from kitchen to the family room, creating a greater sense of together- ness. They also spend most of their waking time in these two rooms. It’s essential they feature a blend of comfort and luxury. In a family room, everything starts with the fireplace. The fireplace is often the focal point of the room and needs to set the tone for the overall design. Stacked stone fireplaces create a cozy ambiance, adding to the overall aesthetic and comfort in the room. Wood floors or high-end engineered wood floors are also a nice feature for families with chil- dren and pets. KITCHENAND BATH Most realtors will tell you the kitchen and bath can make or break a sale. It’s no different for SFR homes. In the kitchen, granite countertops, stainless steel appliances, tile backsplashes,
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(SFR) business has been on a hot streak lately. Today, SFRs make up about 6% of all new homes being built in the United States. That number is expected to double in the next 10 years. Wall Street is taking notice and pouring more money into the sector, creating intense competition for tenants. Anyone wanting to win in the SFR space must have something that sets them apart from all the players entering the fray. One of the most important differentiators is interior design. Paying close attention to design can pay dividends, whether it’s creating a stacked stone fireplace to enhance a family room’s ambiance or
36 | think realty magazine :: may – june 2022
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