Baby Boomers-Real Estate-Trends Part 1

 

 

Reality tells us that aging is not going to disappear.

Baby Boomers were the largest group until the Millennials came along. 

Baby Boomers are aging and it is getting their attention. They are starting to look ahead and are trying to figure out what will work best for them in the coming years.

In the Real Estate world we are beginning to see the Trends that are developing.

 

In Part 1, let's look at 3 of the trends.

 

1. Baby Boomers have a desire to be Independent.

    Being Independent means they want to live in their own 

homes. 90% do not want to live in a Retirement Community.

    They are thinking ahead and will modify their home to

    accommodate future health needs. They may take the bath tub out to      replace with a walk in shower. They would install grab bars and enlarge doors to be wheelchair accessible.

    In their desire for independence, Boomers may choose to

    utilize the services of Home Health Care rather than going

    into an Assisted Living community.

2. Boomers Are Into Family and Want to Be Near Them.

    Boomers  love to be with and near their children and

    grandchildren. They also value their friends and want to

    be able to continue to socialize with them.

    Some Boomers will decide to move out of the area to go to

    where their children live.

3. Boomers Are Becoming Money Conscious.

    After living life with low housing payments or no

    mortgage, good income and investments, Boomers, as they

    age are becoming more concerned about Debt. They do 

    want to be in debt. As aging becomes more of a reality, 

    often worry if they will have enough money for 

       retirement living.

    Financial Planners that I talk with are telling me they are

    having serious discussions with Boomers about what level

    of living they can afford now.

    The closer to retirement the more they think about 

    reducing debt.

In Part 2, we will look at 4 more Trends of the Baby Boomer.

 

For more information on how John Wiley can help Seniors as they Transition in Lifestyles: 

Lifestyle Transitions Specialist