There’s one thing to be said about housing trends that baby boomers have an influence on in the new home industry. There’s another to be said about baby boomers wants in general in relation to the lifestyle that they are living. And America is getting older, which means more baby boomers who are reaching the age of retirement. Those born in the U.S. after World War II and before 1964 are a part of this age group, and they aren’t quiet when it comes to particular housing demands.
Once baby boomers retire and settle down, they want to relocate and downsize. They want to get back to a simpler lifestyle inside a friendly community. Along with that comes these six things:
A home office
Baby boomers are choosing to work past the age of retirement, sometimes using it as a hobby. Home offices provide flexibility for maintaining a business from the comfort of one's home. However, it should also be noted that most boomers don’t want to have to go up and down the stairs all the time. Most prefer a master bedroom and home office that can be found on the main floor.
According to a Merrill Lynch survey of baby boomers, home equity among homeowners aged 65 and older is more than $200,000. This equity means that boomers want to be able to save more on the cost on “maintaining a home” by turning to downsizing. This equals more money for travel and leisurely activities. A recent study showed that 47 percent of baby boomers intend to go smaller if there’s a chance to lower home-maintenance costs and property taxes.
Smaller homes don’t always equal less work. An old home that needs renovating can take up a lot of time and money from boomers’ schedules. Instead, boomers are looking for homes with the best of everything including modern appliances, energy-efficient doors, and large windows that allow for lots of light. And larger kitchens for moving around in. Because they have been saving for a while, boomers are willing to invest more money into having others do their yard work, painting, and landscaping for them.
Many new homes built today are ENERGY STAR certified, which equals thousands of dollars in savings per year in electricity costs and maintenance.
Boomers have spent a decent chunk of their lives driving to and from work, chauffeuring their children to practice or running around in the grocery store. Now, they are looking for neighborhoods with shopping close by.
Town homes are the popular option for boomers, with close proximity to downtown areas and parks. Anywhere that offers a close distance to dining, entertainment, and shopping is a guaranteed sell.
To thrive on their own
Health and fitness has become more of a priority for many baby boomers in today’s day and age. Instead of eventually moving into a retirement home, boomers desire to stay at home for as long as they can. If care is needed, they prefer for it to be administered from the comfort of their own home. Thankfully, many communities that cater to boomers offer active-adult options and community groups that keep people in this age group fit and healthy, and also provides a community of friends.
To be close to family or friends
Family is the focal point for most of those who are aged 50 and above. If it’s not family, then it’s a community of friends who live nearby. Baby boomers are choosing to move largely due to the desire to be close to children and grandchildren. A tip of advice to any boomers looking to make a big move? Make sure you like the area, regardless of where your family is. A job promotion for a loved one can happen at any point, and you don’t want to end up being miserable where you live. Thankfully, many communities now offer clubhouses with fitness classes and other opportunities to meet neighbors.