Those Boomeranging Boomers Are At It Again!
Many boomers in Clark County, WA have gone full circle - from large homes, to small homes, and now back to larger homes again. It's a trend we've noticed in our business that specializes in baby boomers and multigenerational estates and housing solutions.
My husband and I are often amused by the Boomer "trends" reported by the media. Especially since we're part of that group, we like to see how our personal experiences and lifestyle differ from the perceived "norm." One lagging indicator - especially in the real estate press - is the notion that most boomers are downsizing. Really? Our recent experience (and a recent Nielsen survey) points to the opposite trend - many Boomers are actually up-sizing their home purchases.
Certainly there was a short period when many baby boomers started to downsize - moving into super efficient homes with a smaller footprint and easier maintenance. We actually did that too. However, we soon learned that smaller does not accommodate all the things we want to do. Especially since we intend to have a multi-generational household (with my parents) and often have visiting children and grandchildren.
So, to set the record straight, here are the Top 5 Myths About Boomer Downsizing, at least in our neck of the woods. How does it stack up for you?
Myth #1: Boomers Want Smaller Yards. Many age groups - not just Boomers - dislike maintaining the typical grass lawn because it requires a lot of work - and chemicals that leach into the watershed. But these days, Boomers are not opting for smaller yards - they want room for outdoor activities, gardens, fire pits, trampolines and swing sets for their grandchildren. They will replace the lawn with low-maintenance plants and flowers, and create room (and time) for their favorite activities like cooking, gardening and hosting family get-togethers.
Myth #2: "Empty-Nesters" Want Smaller Living Space. Once the kids have moved out, you might assume we want smaller square footage. Yet, we actually want more rooms to accommodate our new lifestyle. The Nielsen study supports this trend - many Boomers continue to work - often from home - and need office space in addition to rooms for their new hobbies and activities. One of our recent buyers actually converted the giant media room into her sewing and weaving area - complete with loom and material storage!
Myth #3: "Empty-Nesters" Need Fewer Bedrooms. In addition to office space, we need flexible space for visiting family and guests who come on a regular basis. Often, spaces will be converted with built-ins and sofa beds to accommodate kids and grand kids who come to stay. Plus, we need play areas outside of our own space.
Myth #4: Boomers Want a Single-Level Home. True, a single-level home addresses the issue of our aging population and the challenge of stairs, but that floor plan is becoming harder to find. We're finding that Boomers still like the two-level home so long as there is a master on the main. As a practical matter, it's nice to have a separate level for guests - it provides privacy and separation from the main living areas.
Myth #5: Multi-Generational Living is Due to Boomeranging Kids. Yes, during the recession some households experienced adult children returning to live at home until they could become economically stable. But now, families are choosing to live together again, and not just for economic reasons. In fact, this trend is being led by Millennials as much as Boomers - they enjoy the lifestyle of family togetherness. They want, and respect, their separate living quarters, but like the option of spending time with each other when they want. We are seeing the increased popularity of not just separate "mother in law" quarters, but also two-level homes with separate living quarters to accommodate this trend.
If you would like to learn more about Boomer trends and multi-generational housing in Clark County, just ask us. We're Your Locals!
Comments(51)