Top 3 Things Second-Wave Baby Boomers Look for in a Home

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Real Estate Agent with REMAX Real Estate Experts 317824
Top 3 Things Second-Wave Baby Boomers Look for in a Home | Keeping Current Matters
According to data from the U.S Census bureau, there are approximately 76.4 million baby boomers living in the United States today. Contrary to what many think, there are very different segments within this generation, and one piece that sets them apart are their housing needs.
John McManus, editorial director of Hanley Wood’s Residential Group says his company “is focusing on the preferences of the younger half, or second-wave baby boomers, as they exhibit different needs than the older boomers.”

What are ‘second-wave baby boomers’ looking for?

McManus says, “They are seeking a fun, dynamic lifestyle with a home that can also adjust to their changing needs in the future. Living space should either include accessibility features, such as doorway space, lower shelves, and nonslip surfaces, or be easily adjustable when the time comes.
In a homebuyer study performed by The Farnsworth Group, the participants revealedtheir reasons for purchasing a new home. The top three factors that influence their purchase include area/location (50.2%), price/affordability (37.4%), and the layout of the home (19%) (as shown in the graph below).
Top 3 Things Second-Wave Baby Boomers Look for in a Home | Keeping Current Matters
The report also found that when buying a new home, there were other concerns like quality of construction (9%), a safer neighborhood (8.4%), better floor plans (8.25%). The most important rooms or areas are the kitchen (82.8%), master bedroom (59.2%), and great room (36%).
Technology also plays an important role! Second-wave baby boomers prefer wireless security systems (7.1%), lighting that senses and adapts to them (6.3%) and integrated home technology, including “smart” thermostats and lighting controlled by a smartphone (6.2%).
Grey Matter Research and Consulting points to a sense of community as a major factor in wanting to purchase:
The first impressions are important when entering a new community, as is feeling welcome in the community. Amenities such as clubhouses, pools, and walking trails featured prominently in the decision to purchase in a community. Location was key, as residents want their new homes to be near shopping, dining, medical services and entertainment.

Bottom Line

If you are one of the many ‘second-wave’ baby boomers who is starting to feel like their current homes no longer fits their needs, take advantage of the low inventory of existing homes in today’s market by selling your current home and moving on to one that truly fits your new lifestyle.
 
Source: Keeping Current Matters /The KCM Crew 01112017
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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Will Nesbitt 01/11/2017 08:08 AM
Topic:
Home Buying
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jennifer carstensen
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Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Jennifer,  I think you nailed this blog for sure.  I have to say Location is a major factor.  Make it a great day!

 

Jan 11, 2017 08:04 AM #1
Rainmaker
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Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Memphis, TN phone (901) 685-6000 Jennifer Carstensen Real Estate Agent with REMAX Real Estate Experts; reblogged.

Jan 11, 2017 09:03 AM #2
Rainmaker
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Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Millions of baby boomers have homes with equity and will be considering a move to a new home that meets their changing needs. This segment should be part of almost every agent's marketing strategy.

Sep 05, 2017 03:25 PM #3
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Rainmaker
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Jennifer Carstensen

I specialize in selling houses (License: 317824)
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