The Future is here. Brought to you by Lennar Homes, the largest homebuilder in America, celebrating 50 years of doing business in Arizona. It is called 'Next Gen' homes and the innovation that started in 2011 is now one of the fastest growing segments of Lennar’s new home developments.
What exactly is a Next Gen home? A solution for families who want to live together, but separately with complete privacy. The multi-generational home model can accommodate the young adult, or Gen Z who does not quite have the resources to rent or buy. As the Gen Z population struggles with prohibitive rental rates, buyers are seeking new ways to save on home purchases. Consequently, Lennar is seeing a major shift in the reasons consumers are buying. Adult children moving back in with their parents is the quickest growing Next Gen demographic and at the highest percentage ever seen historically. For many, the decision to buy this ‘home within a home’ is more of an economic decision. The Next Gen model can also be a solution for an elderly parent needing a little assistance.
Lennar's floorplans have always been cutting edge. Yet, it is the creation of the Next Gen model that has caused the greatest demand in Lennar’s history. The demand in 2022 and 2023 for Next Gen models is now up 35 percent. Lennar has filled a need for families seeking options beyond the typical single family home.
Lennar premiered the Next Gen model in Phoenix in 2011. Since then, the demand has increased. It has provided a unique opportunity for multigenerational families to live, work and play together, while still establishing a sense of independence. The Next Gen home concept is sought after because it provides so many ways to lifestyle, economic and family choices. Many Next Gen buyers also use the additional space for classrooms, businesses, art studios and offices. The “home within a home” is one of the most desirable and cost-effective housing options available.
The National Association of Realtors found Gen Z makes up 2% of the buying market right now, while a Realtor.com survey found 72% indicated they would like to buy a house in the future.
“We have never seen Next Gen home sales in the 35% range,” says Alan Jones, Division President of Lennar. “It’s changing the way we are doing business and developing our new communities.”
