Meritage Prepares for 2M Millennial Homebuyers over Next Decade
Originally published by: EconoTimes — October 6, 2016
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Meritage Homes Corporation, a leading U.S. homebuilder, unveiled its LiVE.NOW.™ homes focused on the growing first-time buyer market. The Company’s strategic decision comes at a time when demand for new homes is increasing among first-time buyers who desire to enter the market to escape continuously escalating rents that make homeownership more attractive.
“According to Harvard University’s Joint Center for Housing Studies, the Millennial generation is expected to form two million households per year over the next decade. Many of them will be purchasing their first homes,” said Steve Hilton, chairman and chief executive officer of Meritage Homes. “We are offering those buyers more than a no-frills entry-level home by incorporating Meritage’s industry-leading energy efficiency and other upgraded features in an ‘entry-level plus’ home at an affordable price.”
LiVE.NOW. homes will generally range from 1,800 to 2,500 square feet, with prices starting in the low $200’s in most markets. A selection of homes will be available for quick move-in, making the dream of home ownership an immediate reality.
Unlike most entry-level homes, Meritage incorporates features that enhance a homeowner’s lifestyle, such as kitchen islands, pantries and granite counter tops, in addition to upgraded cabinets, laundry rooms, plumbing fixtures and appliances. While move-up homes may include those features, they usually come at higher price points that make them unaffordable for most first-time buyers.
LiVE.NOW. homes also include Meritage’s standard suite of industry-leading technologies, including spray foam insulation that is not available from other production homebuilders. Those technologies and features allow Meritage homeowners to enjoy greater comfort and energy-cost savings of up to 50 percent on heating and cooling their homes.
“People want a quality home that is comfortable, safe and healthy for their family to live in and enjoy for many years, and it’s our job to make that affordable for them,” Hilton added. “With the improved quality of life offered by our LiVE.NOW. homes, homeowners of those Meritage homes will be inclined to stay in their first homes longer before making the decision to move up to their next homes.”
In addition to the comfort and upgrades offered in LiVE.NOW. homes, buyers of those homes will also enjoy a streamlined and efficient home buying process and experience. Meritage is encouraging buyers to MOVE SOONER. LIVE BETTER. WHY WAIT? Its LiVE NOW. homes are currently available in Phoenix and Houston, with more coming soon across the country.
About Meritage Homes
Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2015. Meritage Homes builds and sells single-family homes for first-time, move-up, luxury and active adult buyers across the Western, Southern and Southeastern United States.