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
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
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: