Baby Boomers-Real Estate-Trends, Part 1

By
Real Estate Agent SL3287291

 

 

Reality tells us that aging is not going to disappear.

Baby Boomers were the largest group until the Millennials came along. 

Baby Boomers are aging and it is getting their attention. They are starting to look ahead and are trying to figure out what will work best for them in the coming years.

In the Real Estate world we are beginning to see the Trends that are developing.

 

In Part 1, let's look at 3 of the trends.

1. Baby Boomers have a desire to be Independent.

    Being Independent means they want to live in their own 

    homes. 90% do not want to live in a Retirement  

    Community.

    They are thinking ahead and will modify their home to

    accommodate future health needs. They may take the bath

    tube out to replace with a walk in shower. They would

    install grab bars and enlarge doors to be wheelchair

    accessible.

    In their desire for independence, Boomers may choose to

    utilize the services of Home Health Care rather than going

    into an Assisted Living community.

2. Boomers Are Into Family and Want to Be Near Them.

    Boomers  love to be with and near their children and

    grandchildren. They also value their friends and want to

    be able to continue to socialize with them.

    Some Boomers will decide to move out of the area to go to

    where their children live.

3. Boomers Are Becoming Money Conscious.

    After living life with low housing payments or no

    mortgage, good income and investments, Boomers, as they

    age are becoming more concerned about Debt. They do 

    want to be in debt. As aging becomes more of a reality, 

    often worry if they will have enough money for 

       retirement living.

    Financial Planners that I talk with are telling me they are

    having serious discussions with Boomers about what level

    of living they can afford now.

    The closer to retirement the more they think about 

    reducing debt.

In Part 2, we will look at 4 more Trends of the Baby Boomer.

 

For more information on how John Wiley can help Seniors as they Transition in Lifestyles: 

Lifestyle Transitions Specialist

 

 

 

 

Comments (10)

Debbie Walsh
Shahar Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Yes alas aging does go on and on.  Very good points that are useful to us in real estate.

May 24, 2017 01:22 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Thanks Debbie. If we could only find the fountain of youth we would be set.

I want to encourage agents to understand the many needs of the Boomers.

May 24, 2017 01:57 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

You nailed it John Wiley and sometimes the being "near family" may mean back to a colder climate rather than staying retired in a warmer one.

Jun 04, 2017 01:24 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Sally K. & David L. Hanson you are right. There comes a time in seniors lives they start to set different priorities for their lives. Often, being near family is more important than sitting on the beach.

Thanks for commenting.

Jun 04, 2017 04:44 AM
Cindy Logan
Mark 1 Real Estate Advisors - Huntington Beach, CA

John, great information for Boomers.  And yes, this is how we Boomers feel.  I'd like to leave California and my kids are here.  I'm at the tail end of the Boomers and so am not at that stage of needing assistance and I can see it coming.     Looking forward to reading Part 2!

Jul 06, 2017 05:32 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Cindy Logan Boomers have many different factors to deal with. Really wanting to leave a particular area is often subject to desire to be near family.

Not easy decisions but finding what best meets your needs.

I appreciate your great comments.

Jul 07, 2017 03:55 AM
Cindy Logan

John, I had lunch with a couple of millenials recently.  I've been thinking about doing a blog on that.  Every age has different challenges.  

Jul 07, 2017 08:34 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

John Wiley - I love this topic. You've provided a wrinkle free composition of what it means to be a Baby Boomer. No make-over can turn back the clock to make one younger. We are what we are and our birthday proves it. BB's are creative thinkers. They never wanted to be like their parents. BB's learned quickly the Ozzie Nelson family, Donn Reed, and My Three Sons was fabrication and unfortunately, Father didn't always know best. 

Baby Boomers were the Mavericks, with Superman/Superwoman dreams. Men when to battle or they dodged the draft. Women went to business schools, became nurses, teachers, or into some field that caused many to pull the night shift while doing double duty balancing the household and the budget. No way does anyone wake up one morning and say, I think I'll check out nursing homes or retirement villages where I can be dependent on others.

I hope you continue this series. It's the best!!!

Aug 04, 2017 06:30 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Patricia Feager I love the way you share your thoughts, they always add value.

Great description of Baby Boomers.

Thanks for your encouragement.

Aug 04, 2017 06:34 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Wonderful post, John and I hate that I'm just now seeing this! I just posted something on the increase in multi-generational home sales today! It's just a fact of life - we age and we want to be near our children, be independent and certainly watch our pennies! ;-)

Oct 01, 2017 05:03 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Thanks Debe, I am glad others like yourself are aware of the needs of the consumer as they age. Multi-generational homes is a topic that needs more awareness. I will check out your post.

Oct 02, 2017 03:44 AM