There are about 76.4 million baby boomers living in the United States today according to the US Census bureau.
Within this generation, there are various segments and one piece sets them apart are their housing needs.
“As millions of baby boomers across the country begin the next phase of their lives, buying the right home is top-of-mind for them,” says John McManus, editorial director of Hanley Wood’s Residential Group.
His company is focusing on the younger half or second-wave baby boomers. They have different needs than older boomers.
“People talk about baby boomers as a homogenous group, but there are very different segments within this generation,” adds McManus.
Who are the second-wave baby boomers?
They are the segment of baby boomers who are seeking a fun, dynamic lifestyle with a home that can adjust to their changing needs in the future.
McManus says, “Living space should either include accessibility features, such as doorway space, lower shelves, and nonslip surfaces or be easily adjustable when the time comes.”
The Farnsworth Group conducted a study and the participants revealed their reasons for purchasing a new home.
The top three factors are area/location (50.2%), price/affordability (37.4%) and layout of home (19%).
The report also revealed their concerns when buying a new home. Among these include quality of construction (9%), a safer neighborhood (8.4%), and better floor plans (8.25%).
They were asked what rooms or areas of a home are important to them. They revealed their top three choices – kitchen (82.8%), master bedroom (59.2%), and great room (36.0%).
Grey Matter Research and Consulting reveals that first impressions are important when entering a new community, as is feeling welcome in the community. Amenities such as clubhouses, pools, and walking trails featured prominently in the decision to purchase in a community. The location was key, as residents want their new homes to be near shopping, dining, medical services and entertainment.
If you’re one of the many second-wave baby boomers who feels like your current home no longer fits your needs, take advantage of the low inventory of existing homes in the market today. Sell your current home and move to the one that will truly fit your new lifestyle.
It’s very important to ask the help of a professional when choosing a home that will fit your lifestyle. At Burgess Group Realty LLC, we help our clients find the best deals in the market. Let’s meet up so we can help you find your dream home!
CALL Catherine at 303.506.5669.