The economic problems and challenges facing most US citizens are forcing changes in real estate buying habits, and one with a great impact is the trend away from the traditional view of retirement in a golf community. Downsizing is taking hold among all housing consumers, but it is particularly evident among the 55-plus crowd that includes the older baby boomers. And that downsizing includes housing plans in retirement.
While "warmer climate" was the reigning factor in choosing where to retire in the first boomer survey Del Webb conducted in 1996, today "cost of living" is the most important consideration on where to locate. As reported by RisMedia, "Despite the broadening of potential destinations, baby boomers' desire to move in retirement has remained relatively stable over the years. Between 30-40% plan to move to a new home in retirement, about the same as in 1996, and half of those plan on moving to a new state."
"How times have changed when it comes to the golf course," said Paul Cardis, chief executive of AVID Ratings Co., a survey research firm. His recommendation to builders: Eliminate it. Bike paths and walking trails are the new greens and fairways.
A recent survey by the National Assn of Home Builders found that 55+ buyers want the practical and the cost-effective:
-Washers and dryers in their units
-Storage space
-Windows that open easily
-Garage-door openers
-Easy-to-use thermostats
-First-floor master bedrooms
-Private patios
-Porches
-Attached garages
-Bigger bathrooms
-Bathroom aids such as grab bars
-Kitchen aids
-Light home-repair services
-Outdoor maintenance services
-An entrance without steps
-Accessible public transportation
-Wider doorways
-Nonslip flooring
The emphasis on services related to home and community is an important one that cuts across many age groups. There is an emerging trend among builders to look for ways to partner with providers of such services to the residents of their active adult/lifestyle communities.
RisMedia reports, "Among technology features, older home buyers tend to act like younger buyers when it comes to the basics: Both groups have a preference for security systems, energy management, structured wiring and lighting controls...
"The 55-plus age group represents 38% of all U.S. households and is projected to rise every year to be almost 45% of households by 2019. And that group has high homeownership rates: while the U.S. as a whole has about a 67% ownership rate, those 55 to 74 own homes at an 80% clip. 'Most buyers in this market are looking for an easy-living lifestyle. They would like easy access to services that will free up their time from maintenance both inside and outside their homes,' said Mike McGowan, a 50-plus builder from Binghamton, N.Y. and chairman of the National Association of Home Builder's 50-Plus Housing Council. 'This data tells builders that the homes they build for older active adults will remain attractive to the consumers who will be entering that market for the foreseeable future.'"
Read more about these trends in Real Estate Retirement Options at RisMedia. Our Daytona Beach and Ormond Beach areas still offer strong incentives for your retirement: low prices, great weather, active lifestyle, senior resources, and many housing options. If you still want that golf community, learn more about what we offer on the Golf Page of my web site. If Waterfront is your dream, now that prices are not inflated and inventory high, take a look at the Waterfront Page and search for homes. You'll find you have plenty of choices here in Daytona Beach to retire, own real estate, and live as you dreamed.
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