Before millennials came along, baby boomers were the largest generation in America, with more than 76 million born between 1946 and 1964. A lot of buying power is wrapped up in this aging population, but as real estate trends show, they’re not headed to the old folks home!
When the housing bust hit, many baby boomers held off on selling their homes. Now that the real estate market is more robust, many are getting in the game and they’re making their move.
The draw to be near family is driving a good portion of boomers to pull up stakes and relocate. In the process, they’re choosing to right size by paring down their possessions and opting for one-story living. These single-level homes feature fewer bedrooms and more space in the main rooms, along with expanded Outdoor Living Areas to create more room for entertaining both inside and outside. For Homeowners in our Encore at FishHawk Ranch community, baby boomers can remain near children and grandchildren who live in the larger, master-planned FishHawk Ranch while still embracing an active lifestyle in an exclusive, 55+ community that features the amenities and activities they’re looking for.
Activities that baby boomers are looking for include opportunities to cultivate new friendships with like-minded neighbors, such as grabbing a workout buddy to stay in shape in the fitness center, competing in a spirited game of pickle ball, sipping wine while watching the sunset around a fire pit, enjoying sunrise yoga or participating in a myriad of other activities organized by a full-time lifestyle director.
This generation is more active than their predecessors and they’re exercising their desire for sophisticated style and options in their homes. With many boomers choosing or needing to work past the age of 65, the home office is a big draw in choosing a home design. Some who have transitioned from a Monday through Friday position into part time work like the flexibility a home office offers.
The boomer’s need for additional and improved lighting is catching the attention of builders. Homes are being built with larger windows that allow more light to fill a room. Interior lighting is getting a boost with additional lighting fixtures in areas like under cabinets and stairwells. Dimmers are popular options for controlling the intensity of the light along with eliminating glare.
The need to change with the times is important to the boomer in how they live in their home. Elements that allow them to age in place will keep boomers in their homes longer. With creaking knees and sore backs, more boomers are bypassing stairs and opting for either one-story living or having their Owner’s Retreat on the first floor. Their bedrooms and bathrooms tend to be larger to accommodate the possible need for a walker or wheelchair in the future. An elevator is no longer a luxury feature, but one that will provide easy transport to all levels of a home, and allow them to remain in their new home even longer.
The baby boomer has changed the face of many things in society, so it’s no surprise their retirement years will look different from generations past. They’re after more than a recliner and empty schedule. Their next chapter is ready to be lived with friends, family and a full life… In a lovely new home.