Baby Boomers Reject Elderly Stereotyping in Housing Choices

It’s slightly depressing, but it’s a reality, nevertheless. The eldest of Baby Boom generation has hit the ’60’ mark. The largest demographic group in the country – those born between 1946and 1964, are certainly growing older, but – contrary to what manytwenty somethings seem to think – act and appear anything but old andfeeble, as a whole. In fact, Boomers (as they’re sometimescalled) represent a widely-diverse group of adults in the way theythink, and especially, the way they live. Many of them even mimictwenty somethings or thirty somethings when it comes to tastes infashion, cars, and music, for example.

Inaddition, the sheer spending power of this enormous faction of Americansociety (estimated to hover around $2.1 trillion annually) certainlycan’t be denied. And the fact that Boomers currently representabout 26.3 percent of the nation’s total population definitely hasn’tescaped the attention of the real estate community.

Home builders and developers, in particular, have stepped up their efforts to cater to the mighty boomers. They recognize that the eldest baby boomers are approaching retirementage, and that they demand more choices when choosing the home in whichthey will spend their retirement years. The want to have moreoptions than their parents or grandparents had available to them.

Inresponse to this demand, restricted-age communities -- comprised ofluxury homes -- are springing up rapidly. So-call “active adult”subdivisions would also fall into this category. Many of themfeature community centers, and activities which belie the notion thatboomers are “over-the-hill” and content to just drift through each dayin a rocking chair after retiring. Internet cafes, coffeehang-outs, aerobic classes, fitness centers, hiking trails, andentertainment, such as live theatre and weekend concerts – concertsfeaturing – dare, we say it – rock â€˜n’ roll bands, are commonplace.

Developerscatering to Baby Boomers also provide them with a host of amenities tomake their lives more carefree – almost as a type of reward for havingachieved a certain status in life. Beauty salons, restaurants,24-hour security, valet parking, and concierge service are distinctive“touches” found in many of these communities.

Aboveall, Boomers abhor the thought of feeling elderly, and are equallyadamant in their disdain for anyone who views them as beingdecrepit. Likewise, they certainly don’t want toperceive their homes or communities as places designed for theelderly. They long for a sense of community, and expect theirretirement digs to be part of a very social and vibrant atmosphere.

Andas far as the Baby Boomers who are opting for more traditional housing,an interesting trend is developing. Many of them are snatching upsecond homes like crazy, especially the Boomers between the ages of 45and 54, who represent the country’s largest group of homeowners who ownvacation homes. For the time being, they are using these homes asvacation retreats, but with the intention of converting them into theirprimary homes upon reaching retirement age. At that point in time, they plan to sell their current residences andusing those profits to pay off the mortgages of their second homes.

Interestinglyenough, Boomers are purchasing second homes (their future retirementhomes) that are relatively close to their current homes – oftentimes,just beyond the suburbs where they’ve dwelled for the past fewdecades. This represents a complete reversal of the scenario manyof their parents followed upon retiring, whereby they sold their homesand headed straight for retirement havens in Florida or Arizona.

Andas more that 76 million Boomers who are entering their “empty nest”years – whereby, their children have grown up and moved out – searchfor that dream second home, it would be wise for sellers and homebuilders trying to attract this market segment to heed their wants andneeds.

Some of the things surveyors havediscovered as far as which amenities are particularly significant toBaby Boomers in this market:

Smalleris better: Boomers are looking to downsize to smallerhomes. Those with open floor plans -- dominated by a masterbedroom, bathroom suite and laundry room on the first floor and guestbedrooms and bathroom on the second floor -- is typical of the type ofhouse which appeals to many Boomers.
Wider hallways
Non-slip flooring
Bathroom: Larger is better – Boomers desire more luxurious, more spacious masterbathrooms, now that their kids are gone. Key amenities includedual-sink vanities, dual shower systems, a whirlpool, bathroom grabbars, skylight, heated tile floor, and a TV/VCR/Stereo entertainmentsystem.
Sunrooms
Fireplace
Workshop/Studio: Can also be used to display art pieces.
Walk-in closets
State-of-the-art kitchen