Marketing Focus: The Live-Work Lifestyle

Are you familiar with the phrase Live-Work Lifestyle?  According to a recent BuilderOnLine article, this term, particularly popular with Millennial workers, pairs telecommuting with opportunities for connection.

Many of us are familiar with telecommuting or working remote without a "typical" office to go to on a regular schedule.

SalesTouch provides focus on Flex Space options

But, BuilderOnLine suggests today's remote worker also wants to incorporate the element of seeking out camaraderie.

Not every telecommuter can or wants to live in an urban area. Housing prices as well as the need for larger living spaces, good schools, recreation and the like mean many remote workers are moving out to the suburbs suggesting home builders find creative ways to satisfy the demand for a vibrant lifestyle outside the city. 

In other words, telecommuting and flexible work options (such as 4x10 work weeks) are changing what home shoppers want not only in a home but in the neighborhood, as well. 

Take a look at the top image: CPS' SalesTouch in use at Cornerstone Communities new Agave neighborhood in North County San Diego displays structural features such as the optional Flex Space providing the home shopper with the home office so often needed for remote work.

SalesTouch highlights walkability

And, now take a look at the lower image: SalesTouch provides an interactive, pinch to zoom surrounding area map highlighting neighborhood locations meeting lifestyle objectives in the KBHome Reunion area. Those objectives can range from walkability as well as "work away from home" locations such as the library or Starbucks plus dining options and recreation hot spots such as parks, trails and dog walks!

Lifestyle marketing, in other words, is expanding as the interest in live/work options grows!

Yes! Boomers Are Buying Outside the "Smile States"

John McManus noted in a recent BuilderOnline Consumer Trends article that the US population is now 325.3 million and added a fact, that frequently goes unnoticed: the US population is getting older.

Millennials, Boomers .. and multigenerational, too!

There's been quite a bit of fanfare recently noting Millennials are finally entering the new homes market; yet, the median age across the board has gone up 7% since 2000.  More startling: the 65+ population has grown 40.5% in the same timeframe.

And, every state has experienced an increase -- or remained constant.  Maine has the highest median age (44.6) (compare that to Utah with the lowest at 30.8)!

What ideas might be drawn from these numbers?

Certainly, there's demand for 55+ communities in what are thought of as "traditional 55+" areas (for example, Sumter, FL has a 67.1 age median).  McManus suggests that builders and developers consider every area has 55+ potential -- and that there's a significant demand for multigenerational product, as well.

In other words, communities are drawing buyers from a wider audience than ever before -- and the audience is more diverse.  What seems to be consistent, McManus notes, is the interest in carefree living.  Accessibility -- in terms of interior space as well as outside the community -- and lifestyle -- think both community and surrounding neighborhood amenities -- are drivers as folks think about how they want to live as they get older.

Take a look at recent Solutions Blogs regarding walkability, amenities, green living, even floorplan options -- and how an interactive presentation -- we're highlighting CPS' SalesTouch -- will help tell your story more effectively to the range of today's home shopper audiences.

Let Your Interactives Help Foster Sense of Community

Recently, Mary Cook, writing in Builder Developer, noted that Millennials are finally ready to move out of their parents' home and find their own. Her firm is known for creating innovative environments targeted to market demands and her article focused on 7 Ways to Design Residential Developments for Millennials. 

What was top of her list? Foster a sense of community!

What's behind that thought? Cook notes that many Millennials telecommute -- finding them with little interaction with co-workers and managers. The typical, work-related social interactions are missing. And, like many new home buyers, they're probably relocating (even if a relatively short distance). As a result, they're looking for their home (both specific and general) to provide relationships.  That's driving the popularity of amenity-rich communities as community pools, tech centers, fitness centers encourage residents to gather and engage.

Do you recall the Solutions Blog about walkable neighborhoods (or Walkups)? Consider using your location as a way to encourage thinking of the new neighborhood in terms of walkability and its benefits from a social interaction perspective:

1. Offer Walk Abouts: One of walkable neighborhood's driving forces is access to convenient, interesting and unique shopping and dining venues.  Think of the possibilities -- run into or invite neighbors as everyone is learning the area! Why not create an "It's in the Neighborhood" map highlighting 15 close-by locations that are probably new to your home shoppers? Think: ethnic restaurants, unique bookshops, unusual hardware stores.  Let your potential buyers explore (virtually!) and see themselves living the experience! Drones are making aerial photos so much more affordable -- take a look at Richmond above and consider using this type of visual introduction to the neighborhood.
2. Shine a Light on Educational Institutions: Here's another opportunity for introducing a new way of thinking about community! And, these opportunities don't need to be just traditional colleges and universities. Think outside the box and consider adult education and interest-focused centers, too. Look for places like innovative yarn shops, photography studios, art centers.  Let your home shoppers explore neighborhood learning opportunities and imagine the opportunities available.

Let an interactive touchscreen presentation tell your community story -- from amenities to neighborhood "hot spots" to all sorts of educational possibilities. Take a look at a CPS' SalesTouch  presentation's aerial photo detailing shopping, dining, recreation and community options in Richmond (above); can't you see your buyers virtually exploring and enjoying their new community?

Walkable Neighborhoods: Both Millennials & Boomers Love 'Em!

While traditional suburban communities continue to attract, urban environments are opening new home neighborhoods -- and attracting buyers! Both Millennials and Boomers are considering and buying in areas that previously wouldn't have offered new construction.

Use SalesTouch to Take a Virtual Walk About!

One of these neighborhood's key features (or, you could think, amenity) is walkability. There's even a new term: walkable urban places (sometimes referred to as WalkUps -- but completely different than multi-story buildings from the early-mid 1900's!!).

WalkUps are defined, in a June 2016 BuilderOnline article by Lauren Shanesy, as a development with substantially higher density, mixed-use product, emerging and new product types and a variety of transportation options.

Following are several marketing ideas you might consider using with a  WalkUp community: none are too complicated or expensive yet provide good touch points for your home shoppers:

1. Highlight Transportation Options: Home shoppers in all demographics love the idea of reducing their reliance on a car. Residents in WalkUps spend less on transportation so why not highlight options for your home shoppers?  Provide maps, schedules -- even signage from your local metro.  While Millennials and Boomers are key demographics for the new urban community, reduced transportation costs appeal to moderate-income home shoppers, as well.
2. Offer Walk Abouts: One of the reasons WalkUps are popular is easy access to convenient, interesting and unique shopping and dining venues.  Why not create an "It's in the Neighborhood" guide highlighting 15 close-by locations that are probably new to most of your home shoppers? Think: ethnic restaurants, unique bookshops, unusual hardware stores.  Let your potential buyers explore (literally or virtually) and see themselves living the experience! Drones are making aerial photos so much more affordable -- take a look at Richmond above and consider using this type of visual introduction to the neighborhood.
3. Shine a Light on Educational Institutions: Washington, DC is considered the second highest ranked WalkUp and over 50% have B.A. degrees.  One of the urban neighborhood attributes frequently mentioned by Boomers is access to educational opportunities.  These don't have to be just colleges and universities. Consider adult education and interest-focused centers, too. Look for places like innovative yarn shops, photography studios, art centers.  Let your visitors know what's in the neighborhood with an easy-to-read map focused on neighborhood learning opportunities!

Go one step further and add an interactive touchscreen system to tell your WalkUp story. CPS' SalesTouch offers the aerial photo detailing shopping, dining, recreation and community options in Richmond (above); can't you see your buyers virtually exploring your neighborhood?

New Home Marketing: Put Walkability in Your Buyer's Sights

Did you happen to see the recent Builder article, How to Make a Home More Appealing to Millennial Buyers? Redfin's Whitney Bennett suggested several ways to make a home more Millennial friendly.

SalesTouch highlights your community's walkability!

In an earlier CPS Solutions blog (you can read it here), we mentioned the author's first sales/marketing point: Create an Open Floor Plan and highlighted how CPS' interactive touchscreen system, SalesTouch, with its mix/match floor plan and drag 'n drop furniture features helps buyers imagine and design their new home consistent with their interests.

Another Bennett suggestion is to Tout Your Community's Walkability.  What's particularly noteworthy about this idea is that the Boomer demographic is also becoming interested in the livability features associated with new urbanism and considering moves away from the suburbs.

SalesTouch is particularly effective in showing buyers that your community is "close to everything" of interest: shopping, dining, recreation, transportation. Interactive touchscreen systems are particularly good at narrowcasting -- allowing home shoppers to focus on those items of particular interest.  Are you an Arts and Culture fan? Just as easy to see the museums, concert venues and studios in the neighborhood!

One extra benefit of highlighting walkability: Bennett suggests each point on your community's walkability score can can increase a home's price by an additional $3,250!

Marketing Homes to Today's Millennial Buyers

There's a recent Builderonline article called How to Make a Home More Appealing to Millennial Buyers (you can read it here). 

Redfin's Whitney Bennett points out  the Millennial demographic makes up a large portion of the home buyer market and suggests several ways to be more Millennial-friendly in your marketing.

SalesTouch: Let buyers start creating their multi-functional living space!

We'll focus on Suggestion #1 and follow-up with others, soon: Create an Open Floor Plan.

Bennett (and the National Association of Realtors in 2014) says most younger buyers are interested in large, open spaces with fewer walls and partitions. Why? These buyers like entertaining in large spaces and are also interested in multi-functional rooms.

How to market that open floor plan? Let's look at a recent CPS SalesTouch installation at Cornerstone Homes' new Agave community in North County San Diego. You'll notice a great open first floor area -- along with the ability to interact with the floor plan and drag and drop furniture letting home shoppers dream and create their new living space!

Next on the Millennial wish list: walkability -- and according to Redfin.com's recent study, each point on the walkability score can increase home prices by an average of $3,250.  More to follow!

3 Ways to Market Your Community's Walkable Urbanism

While suburban communities still have their appeal, it is becoming more and more apparent that urban environments are attracting new home neighborhoods -- and buyers!  Both Millennials and Boomers are considering and buying in areas that previously wouldn't have offered new construction.

Downtown Richmond -- start exploring!

One of these neighborhood's key features (or, you might think, amenity) is it's walkability. There's even a new term: walkable urban places (sometimes referred to as WalkUps -- but completely different than multi-story buildings from the early-mid 1900's!!).

WalkUps are defined, as BuilderOnline's Lauren Shanesy notes in a recent article, as a development with substantially higher density, mixed-use product, emerging and new product types and a variety of transportation options.

There are a couple of concepts associated with WalkUps you might consider as part of a community-based marketing program -- not too complicated or expensive yet providing good touch points for your home shoppers:

1. Highlight Transportation Options -- Home shoppers in all demographics love the idea of reducing their reliance on a car. Residents in WalkUps spend less on transportation so why not highlight options for your home shoppers?  Provide maps, schedules -- even signage from your local metro.  While Millennials and Boomers are key demographics for the new urban community, reduced transportation costs appeal to moderate-income home shoppers, as well.
2. Offer Walk Abouts -- One of the reasons WalkUps are popular is easy access to convenient, interesting and unique shopping and dining venues.  Why not create an "It's in the Neighborhood" guide highlighting 15 close-by locations that are probably new to most of your home shoppers?  Think: ethnic restaurants, unique bookshops, unusual hardware stores.  Let your potential buyers explore the neighborhood (literally or virtually) and see themselves living the experience!  Drones are making aerial photos so much more affordable -- take a look at Richmond above and consider using this visual introduction to the neighborhood.
3. Shine a Light on Educational Institutions -- Washington, DC is considered the second highest ranked WalkUp -- and over 50% have B.A. degrees.  One of the urban neighborhood attributes frequently mentioned by Boomers is access to educational opportunities.  These don't have to be just colleges and universities --  there's always adult education and interest-focused centers, as well.  Think: great knitting shops, photography studies, art centers.  Let your visitors know what's in the neighborhood with an easy-to-read map focused on neighborhood learning opportunities!

Take one step further and consider highlighting these factors using an interactive touchscreen system.  CPS' SalesTouch offers the aerial photo detailing shopping, dining, recreation and community options in Richmond (above); can't you see your buyers wanting to be able to virtually explore your neighborhood?

Downtown: Calling Boomers!

It turns out that, like many other things, today's retirement location is not your father's retirement community!

Clare Trapasso, a Realtor.com staff member, reviewed a 2016 National Association of Realtors report and noted, in a Realtor.com article, an increase in the number of buyers aged 50-59 purchasing homes in urban areas -- and there's been an almost 10% increase year-over-year.

And, it's not unexpected, to some extent.  Boomers have changed many things over the last 50 years; why not retirement living?  Instead of moving to traditional retirement areas in the South and Southwest, Boomers are moving to urban centers from the suburbs in increasing numbers.

And, they're looking for many of the same amenities as Millennial home shoppers: walkability, amenity-rich environments offering shopping, dining, cultural venues and opportunities for learning -- through both traditional colleges as well as learning centers.

What's a builder to do?  First, minimize all of the entanglements associated with suburban living -- maintaining all of the amenities, driving to shop, locating services and the like.  And take a serious look about incorporating elements at the top of Boomer wish lists:

• On-site services -- think fitness centers, on-site pet and housekeeping services and a concierge. As well as "neighborhood" rooms for cooking lessons, wine tastings and book clubs!
• Neighborhood walkability -- this is key; in many cities, Boomers are revitalizing the historic downtown as they have the money to spend to dine, shop and enjoy museums, concerts and theater. While employment hubs aren't as important to this buyer, the ability to live life without relying on a car is critical. 
• Flexible floor plans -- Many Boomers are downsizing but they're interested in designing their new home around current interests and needs.  And, cookie-cutter doesn't work.  One person's second bedroom is another's craft room and another's home office.  

Communicating these new urban amenities and features requires thinking outside the traditional sales office static signage -- it's not your father's sales office, either!  Engage your buyers with SalesTouch -- an interactive touchscreen system designed to highlight community amenities, the surrounding neighborhood and flexible options available in your floor plans.  

What about involving your home shopper in the conversation surrounding your neighborhood and community lifestyle? Take a look at CPS' Social Media Wall -- designed to merge traditional marketing content and copy with social media to focus the discussion on what makes your community talk to these new urbanites! #GetSocial!

Multifamily Demand Reaches Beyond Millennials and Boomers

Ask most people working in the multifamily industry about demand for their communities and many will say there are 2 basic and key demographic segments: Millennials and Boomers.

SalesTouch showcases amenities as well as location!

But, a recent Multifamily Executive article by Stacy Stemen notes that even though those groups generate significant demand, there's a third, sometimes overlooked, demographic in the demand equation: divorced people.

And, it's a population that shouldn't be ignored by multifamily marketing given that almost 50% of marriages in the US end in divorce.  One or both of the individuals involved in a divorce are likely to move back into rental housing.

Have you taken this market segment into consideration in designing and marketing your property?  Have you considered what amenities and/or features would make a property more attractive to this third demographic? Stemens suggests incorporating the following elements in a property to attract the third demographic:

• Include child-friendly amenities -- You could become a divorced parent's top choice with this one item alone! Parents want to be able to provide a "sense of home" as well as gathering places for their children so you'll see real interest in community spaces, pools and party rooms as well as fitness center/playroom combos.
• Focus on walkability -- Millennial and Boomer consumers are known to value easy access to the surrounding area's amenities -- and divorced individuals value both the sense of community and the need for easy access to schools, shopping and employment centers.  
• Incorporate on-site services -- Services can range from time-saving items such as concierge services, on-site dry cleaning and in-house housekeeping services to activities including movie nights, wine tasting events and other engaging activities that encourage social interaction and reduce the time needed to go off-property.

Wondering how to effectively communicate these demographic-friendly elements?  Talk with us about SalesTouch -- CPS' interactive touchscreen system designed to showcase your property, features and amenities!