RIP Forever Homes: Millennials More Inclined to Move

Posted on May 24 2017 - 9:24am by Zoe Eisenberg

a young couple celebrate getting the keys to their new home by taking a selfie in the garden .

Say goodbye to the idea of a “forever home.” No, I’m not talking about taking home a rescue pup. Instead, I’m referring to the antiquated idea of buying that dream house and living there forever.  A recent community survey from Taylor Morrison showed that over half (56 percent) of homeowners no longer believe in the forever home.

To get these results, Taylor Morrison employed Wakefield Research to survey 1,000 U.S. adults who have purchased a home in the last three years, or who are likely to purchase a new home in the next three years. While the study focused on homeowners of all ages, it’s clear that millennials (the next gen of homeowners) are way beyond the forever home trend. Fifty-eight percent of millennials believe that the forever home is dead, and expect their home to evolve as their life does. From a growing family to a new job or a lifestyle change (buh-bye bar scene, hello golf course!), millennials want their living situation to be adaptable.

According to the survey, a third of millennial buyers intend to live in the next home they buy for less than 10 years, and 80 percent are equally or more interested in a newly constructed home over a resale home.

The following infographs offer a bit more insight into the survey.

unnamed-1 unnamed

Source: Taylor Morrison

2 Comments so far. Feel free to join this conversation.

  1. Jane Evans June 8, 2017 at 4:01 am - Reply

    Amazing Post. Thank you for sharing.

  2. Kalos Business Solutions May 26, 2020 at 1:38 am - Reply

    Great post. I can understand there’s many reason contributing to this kind of mindset. With housing in desirable locations increasing in price beyond affordable ranges and student-debt rising, people are less likely to find their dream homes.

Leave A Response