Luke Juday grew up in a spacious house in a quiet suburb. But at age 25 he and nearly all his friends live small in urban apartments. And they intend to never move to suburbia.

"The suburbs are extremely boring," he says.

Juday says his strong preference for urban living mirrors that of many in his age group. How does he know? Because as a demographer for the University of Virginia, he authored a new study titled "The Changing Shape of American Cities," which relies on census data to show how ever more young adults are gravitating to walkable town centers and cities.

"The trend is clear in every single U.S. city. I think it's a major cultural shift," he says.

Though many of Juday's friends are still renters saddled with a lot of student debt, he says some are beginning to buy property, usually in the form of condominiums, in the city, and he expects one day to follow suit.

Fred Meyer, a long-time real estate broker whose clients include many of Juday's millennial generation, underscores their strong preference for urban living and their willingness to live in a condo to gain an ownership stake in the city.

"What often happens is that they start with a small condo and move to a larger one as they get older," Meyer says. But he cautions condo buyers of all ages to exercise considerable care when selecting a unit to purchase.

"Before you buy, make sure you love that condo with both your heart and soul. If you love it completely, the odds are others will love it too. That means that whenever you eventually put it on the market for resale, it should be easier to sell," Meyer says.

Here are a few pointers for condo buyers:

-- Search for a building in a community with a resilient job base.

The vitality of any local real estate market is tied closely to the employment strength of the area. But as Meyer says, homebuyers shouldn't count on a single employer to keep the local economy robust.

"To guard against the impact that layoffs can have on property values, buy in an area with multiple major employers," he says.

How can you investigate the strength of a local economy?

"One way is to go to the offices of the local Chamber of Commerce and ask what's happening to jobs in the area," Meyer says.

By avoiding an economically depressed region, you not only increase your chances of owning a salable condo, you also increase the likelihood of living there happily.

-- Review data to validate your hunches about the right condo building.

Your subjective reaction to a condo building can help with the selection process. But you and your real estate agent will also want to seek out objective information to better analyze the strengths and weaknesses of a particular building.

"Ask your agent to look at the resale history for the building going back as far as four years. Take note of the median number of days it has taken to sell a unit there. The more days it takes to go from list to sell, the less liquid the building," Meyer says.

-- Show skepticism about a building with rock-bottom condo fees.

Nearly all condo buildings impose "condo fees" on their owners. Among other expenses, these monthly charges cover the cost of routine upkeep on a building and its grounds, along with support services.

John Rygiol, a real estate broker who works exclusively with buyers, says some purchasers mistakenly shop for a building with the lowest possible monthly fees. But he warns against that approach.

"A building with very low fees could actually decline in value, due to poor routine maintenance. That could make your unit hard to sell in the future," he says.

In addition, check the "reserves" of the building --meaning the amount of money set aside for major renovations.

"Suppose a building needs a new roof and there's no money for that purpose. That means that you and other owners might suddenly get hit with a big special assessment," says Rygiol, who's affiliated with the National Association of Exclusive Buyer Agents (www.naeba.org).

-- Avoid buying in a building with numerous renters.

Meyer is wary of condo buildings where a large number of units are not owner-occupied. That's because renters have a lesser stake in the maintenance of a property.

"Owners who live in their units feel a natural pressure to ensure there's sufficient money available for upkeep. Renters feel no such natural pressure," Meyer says.

What percentage of owner-occupants is enough? That depends on the location of the building. In most cases, Meyer says you'll want to see more than half the units occupied by owners. However, this rule may not hold in a resort community where seasonal rentals are the norm.

Even though it's not wise to choose a building with a large number of renters, Meyer says it's also important to avoid a building that prohibits owners from renting out their units should they wish to do so.

"Imagine you had to move suddenly for a job transfer and you couldn't rent your unit. You shouldn't give up that prerogative," Meyer says.

-- Shop for the best available unit in the building of your choice.

Even in the ideal condo building, not all units are created equal. Some are much more salable.

"Two units could have the same exact floor plan. But one that overlooks a beautiful park will be worth a lot more than one which overlooks a parking lot," Meyer says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Over the next 10 years, the number of U.S. households led by someone 65 or older will increase by nearly 11 million. And a surprising number of those older people could soon move to larger, rather than smaller, homes.

"Stunningly, three out of 10 older households who've already moved actually upsized. And many more are renovating the place where they now live," says Ken Dychtwald, a psychologist and author who heads Age Wave, a consulting firm that tracks aging trends (www.agewave.com).

Age Wave partnered with Merrill Lynch to produce a new study of baby boomer housing and lifestyle preferences that included a nationally representative survey of more than 3,600 older Americans of retirement age.

According to the survey, retirees' top reasons for upsizing were to have a home large enough for family members to visit (33 percent) or to live with them (20 percent). One out of six retirees has a "boomerang" child who's moved back in with them.

Although a surprising number of retirees are upsizing, the Merrill Lynch study reveals that a solid segment of older Americans still plan to downsize. Those in this category cite multiple factors including greater freedom from financial burdens (64 percent) and fewer upkeep demands (44 percent).

Are you a boomer perplexed by the array of housing choices available to you? If so, these tips could prove helpful:

-- Factor in both your preferences and those of your partner.

If you're expecting to retire and live on your Social Security plus limited withdrawals from a small retirement fund, you may have no choice but to step down to a smaller, less-costly-to-maintain property. But if you've accumulated more substantial retirement assets, you and your spouse could have many more interesting housing options and may need to reconcile differences of opinion.

Rosemary McMonigal, a residential architect who's advised clients for 31 years, recommends that couples with differing visions create priority lists and acknowledge the validity of each other's housing preferences.

McMonigal says many of her retirement-age clients favor downsizing over upsizing. Still, she says it's not unusual for one member of a pair to prefer a larger habitat to gain more personal space.

If you and your spouse disagree on how large a home to buy for your retirement needs, McMonigal suggests you let go of preconceptions and find a way to compromise.

"Discussion works," she says.

-- Try to avoid buying a retirement property with superfluous rooms.

McMonigal is a proponent of the "not so big home" philosophy espoused by widely quoted architect and author Sarah Susanka. As such, she argues that most retirees are happier living in a space no larger than they can actually use rather than trying to pursue a fantasy ideal.

For instance, she says buyers should question the commonly held notion that a home should have multiple dining areas, including a formal dining room, an in-kitchen eating area and an informal dining nook off the kitchen.

McMonigal also suggests you question the common assumption that you should have a dedicated media room and a huge master suite complete with a spacious master bathroom and an adjoining sitting room.

"Most people don't have the time or inclination to use a sitting room for conversation or reading. For that reason, one large armchair in the master bedroom is enough. And media rooms usually go unused, as do extra bathrooms," she says.

-- Realize that the floor plan you select is as important as the size of your home.

Would you like to downsize, but have agreed with your spouse to buy a bigger place?

If so, Ashley Richardson, a long-time real estate agent affiliated with the Council of Residential Specialists (www.crs.com), recommends you look for a home that seems intimate despite its large size.

"It's easy to feel lonely when rattling in large spaces you rarely use, especially if all your grown children live far away," Richardson says.

To locate a large home where you'll feel comfortable, she recommends you avoid a property with a two-story atrium or ceilings that soar 10 feet or higher. Also, avoid a property with an oversized formal living room that you'll rarely use. Instead, look for a place with a relatively large family room where you can both dine and entertain.

"Lots of people like having their family room right off the kitchen, which is the area where people spend most of their time," Richardson says.

-- Remember that the home you buy for retirement may not be your last purchase.

Many people assume that when they buy a home for retirement, they'll live there for the rest of their lives. But it's very common for homebuyers in their 60s to go on to later live in two or three other places during their retirement years.

If you have sufficient financial assets to consider a wide array of alternatives in terms of housing size and location, Dychtwald suggests you investigate a short list of options before committing to a move.

"Remember those college tours you took your kids on? You could do the same to check out different locations and types of housing for your retirement years," he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

With spring up ahead, many people living in cramped apartments are yearning for a house with a yard.

"For many renters at this time of year, home ownership sounds like nirvana," says Tom Early, a consumer advocate who was twice president of the National Association of Exclusive Buyer Agents (www.naeba.org).

For many wannabe buyers, the catch, of course, is financial. How can first-timers get an excellent price on a solid property? Steve Israel, the president of a real estate firm that caters to homebuyers, says one strategy is to consider properties were once rental units but are now up for sale.

He says some of the most willing-to-negotiate sellers include those who had to move due to a job change. These are people who moved before their property had sold and decided to rent their place out on a temporary basis.

"They never intended to become landlords and dislike the headaches," Israel says.

The owners of a rental property who live far away are often so eager to sell that they'll give you a very good price, says Sid Davis, a broker and author of "A Survival Guide for Buying a Home."

Here are few pointers for buyers pondering the purchase of a rental:

-- Visit the property when the renters are absent.

With a few rare exceptions, those living in a rental home are usually displeased upon learning that their landlord plans to sell and force them to move.

"Some tenants will openly seek to sabotage their landlord's efforts to sell," by leaving messes or exaggerating minor problems, Davis says.

Davis urges buyers trying to evaluate a rental property to schedule their visits at times when the tenants are away.

"That way, you'll avoid the annoyance of having the tenants follow you around in the house. You'll also feel a lot more comfortable scrutinizing the property. For example, you won't be embarrassed to open the closet doors or kitchen cabinets," he says.

-- Realize that a detailed home inspection is a must.

A fair number of rental properties are overseen by professional management firms. Still, they rarely receive the same level of attention as owner-occupied homes. That's why it's important to make any bid conditional on a satisfactory home inspection.

Without a good inspection, Israel says it's hard to know, for instance, if the heating and cooling systems have been serviced regularly or whether plumbing problems were fixed.

Davis says one way to find a qualified home inspector who serves your area is to go to the website of the American Society of Home Inspectors (www.ashi.org). Another is to ask your real estate agent for recommendations.

"Ideally, you'll gather the names of at least 10 candidates and then narrow your list to three who you can interview by phone," he says.

Davis recommends you refuse to hire any inspector who's also in the home improvement business.

"Watch out for any guy who tries to contract with you for home improvement or repair work," Davis says.

-- Obtain cost estimates for potential repairs.

As a real estate investor, Davis once owned seven rental properties, all of which he's since sold. His experience as a landlord taught him that tenants often fail to tell their landlord about problems unless they become serious.

"Suppose the dishwasher has malfunctioned for a year, yet the landlord has never heard about the problem until a home inspector determines that the dishwasher leaks and must be replaced, along with the subflooring beneath," he says.

Davis says the prospective buyer of a rental, or any property, for that matter, should determine in advance how much needed repairs will cost. Before finalizing your bid, he recommends you get estimates for all the work on your inspector's list. Then make sure these costs are factored into the price you negotiate.

-- Distinguish between houses with superficial vs. serious issues.

In those neighborhoods where available homes are still in short supply and buyers continue to outnumber sellers, bargain properties are now tough to find. Even so, Davis says those who keep an open mind about purchasing a rental unit could still get a good house for an under-market price.

"Lots of folks attach a stigma to buying a rental. So if you're the people who can look beyond that stigma ... you could score a very good deal," he says.

The key to finding a genuine bargain in a rental unit is to carefully consider each property on its own upsides and downsides.

"The reality is that some rental properties -- especially those that have been occupied by tenants for five years or longer -- are a terrible deal that would drain your savings and make your life miserable. But a house that's been rented out only briefly could present you with a wonderful buying opportunity," Davis says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)