What Baby Boomers Want in a Home
Top 3 ‘Must Haves” for Second-Wave Baby Boomers
According to the U.S Census bureau, there are approximately 76.4 million baby boomers living in the United States today. There are different segments within this generation – one piece setting them apart is their housing needs.
John McManus, editorial director of Hanley Wood’s Residential Group reports his company “is focusing on the preferences of the younger half, or second-wave baby boomers, as they exhibit different needs than the older boomers.”
What ‘second-wave baby boomers’ want
McManus says, “They are seeking a fun, dynamic lifestyle with a home that can also adjust to their changing needs in the future. Living space should either include accessibility features, such as doorway space, lower shelves, and nonslip surfaces, or be easily adjustable when the time comes.”
In a homebuyer study performed by The Farnsworth Group, the top three factors that influence their purchase include area/location (50.2%), price/affordability (37.4%), and the layout of the home (19%).
Additional concerns are quality of construction (9%), a safer neighborhood (8.4%), better floor plans (8.25%). The most important rooms or areas are the kitchen (82.8%), master bedroom (59.2%), and great room (36%).
Technology also plays an important role! Second-wave baby boomers prefer wireless security systems (7.1%), lighting that senses and adapts to them (6.3%) and integrated home technology, including ‘smart’ thermostats and lighting controlled by a smartphone (6.2%).
Grey Matter Research and Consulting points to a sense of community as a major factor in wanting to purchase:
“The 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. Location was key, as residents want their new homes to be near shopping, dining, medical services and entertainment.“
Real Estate Bottom Line
If you are a ‘second-wave’ baby boomers whose current home no longer fits your needs, take advantage of the low inventory of existing homes in today’s market by selling your current home and moving to one that truly fits your lifestyle.