There are 76 million Baby Boomers. Boomers were born after the end of WWII, between about 1946 - 1964. Boomers have long been considered the "Me" Generation. It's been all about them for a long time. They are the generation who said, "You can't trust anyone over 30." There is a Boomer turning 60 every 11 seconds across America! They believe they can accomplish anything if they put their minds to it.
Boomers comprise 33% of all home buyers. 80% of Boomers own their own home. They own more than 50% of all second homes. And, 25% own at least 1 commercial, land or rental property. (Source: Kenneth Harney-Realty Times)
Today's 50-60 year olds have more than a trillion dollars in spending power/year!
Boomers are transitioning into the next life stage. You have the opportunity to play a role in the broader experience for launching into this next stage. You have the opportunity to help them with their Real Estate needs. Here are some of the options Boomers may want:
- Adult communities
- 55 and over, active community, golf course, etc.
- Buying rentals
- Teaching them to invest in real estate
- add to their portfolio,
- become their real estate advisor
- Contributing to children or grandchildren to buy property
- Buying vacation properties
- Timeshares, etc.
Don't forget to refer if necessary. Make sure they get the help they need!
What have you found Boomers want? Downsizing, upsizing, vacation homes...
Comments(2)