BABY BOOMERS IN "STAND-OFF" WITH APARTMENT DEVELOPERS
Written on the 30 March 2015
BRISBANE baby boomers accustomed to designing their own homes are struggling to adjust to having minimal input when downsizing to off-the-plan apartments, according to Grow Consulting Group.
The boutique property agency has reported "design stand-offs" between high-end buyers and developers, stemming from buying experiences in an earlier generation.
Grow Consulting Group managing director Ayda Shabanzadeh says luxury developers are reluctant to offer customised plans to prospective buyers.
"In the past when baby boomers bought suburban homes which weren't yet constructed, builders allowed them input on the design and layout of their future homes," Shabanzadeh says.
"Because of these experiences baby boomers downsizing for luxury apartments, particularly those buying off-the-plan, have similar expectations that are rarely met."
Shabanzadeh says baby boomers often seek one-level apartments rather than two, as well as kitchen alterations.
"I sympathise with developers because many are good people who would like to be able to offer individually customised design plans in an ideal world, but the reality is they would suffer a financial hit if they did," she says.
"For developers to vary units, they must adjust to structural constraints to keep the price affordable.
"This is challenging because land is selling at a premium and inner-city buyers want locations close to the river."
Shebanzadeh says design variations have been accepted after the agent encouraged the developer to implement buyer input however it is rare.
"That's why buyers should always engage the services of a respected agency that has a rapport with developers, because a personal connection can often result in design variations coming to life," she says.