February, 11 2019
Marketing TOD: The Baby Boomer Edition
PREPARE YOUR PORTFOLIO
Create a checklist of amenities - Get to know what is on their priority list. When it comes to buying a house, this is not their first rodeo!
TIP: Boomers want to know cost up front!
The boomer generation is more active than generations past, has a more sophisticated style and wants options and choices in their homes. Whether they are selling the homes where they raised their children and heading to sunnier pastures, or staying put and redesigning to accommodate their retired lifestyle, boomers are making an impact on housing trends.
Some features that home builders and re-modelers are seeing as they begin to cater to the Boomers include:
- Home Offices: Some boomers are choosing to work past the age of 65. As they transition from a traditional 9-to-5 job, however, they want home offices for flexibility. A second career or part-time employment often eliminates the hassle of commuting while keeping them active and bringing in supplementary income.
- Tech/Media Centers: The tech-savvy boomer generation wants top-of-the-line amenities for their homes such as a media room with surround sound and central control systems, which manage all media sources in one location. The house may include a wireless home network, remote control lighting and security features.
- Wider Doors and Hallways: As a person ages, there is a likelihood that use of a wheelchair might become a necessity. Designing a home that is livable now but can transition and be functional as the occupant ages is important in ensuring that the home will be a good long-term investment. Wider doors and hallways are useful for moving larger furniture today, and will also be wheelchair accessible tomorrow.
- Better Lighting/Bigger Windows: The need for more lighting usually increases as we grow older. To accommodate this, builders are adding more windows and making them larger to let in more natural light. They are also adding more light fixtures in areas including under cabinets and in stairwells. Multiple switches to reduce the number of trips and dimmer controls to eliminate glare are other options.
- First-Floor Bedrooms and Bathrooms: More than 40% of new homes have master suites downstairs, a 15% increase over a decade ago. Boomers not wishing to go up and down stairs with bad knees and aching backs have helped fuel this trend. The bedrooms also are also larger, with more spacious walk-in closets and bathrooms that have a separate tub and shower and dual sinks.
- Easy to Maintain Exteriors/Landscaping: Yard work, painting, and other landscaping chores may no longer be enjoyable to aging home owners. People who move to a new home when they retire may opt for a maintenance-free community. Those that choose to stay in their homes might make improvements to exterior surfaces such as installing stucco, brick or low-maintenance siding. Lawns are being replaced with living patios, decorative landscaping, or flower beds which can be a hobby for gardening enthusiasts.
- Flex Space: Flex space has become more prevalent in both new homes and remodeling. Flex spaces are rooms that take on the purpose of the present home owner's needs but can adjust with changes as they occur. What may have once started out as a guest bedroom can be redecorated to serve as a hobby room or library. This allows home owners to stay in their homes longer as it continues to serve their needs throughout life’s stages.
- Close proximity to a fitness studio, shops and restaurants may be top of the priority list!