Mr. and Mrs. Baby Boomer, what do you want to do? Do you want to build a large or a small home? To look at smaller homes verses the larger homes is the question. This is the common question I ask as a builder or a real estate broker to all my clients. And the most common answer, especially from the baby boomers, is to go smaller. I’ve even started noticing that there are more articles on this subject. First, let’s clarify baby boomers. From Wikipedia: “A baby boomer is a person who was born during the demographic Post-World War II baby boom between the years 1946 and 1964.” Most baby boomers have more equity in their current homes and many are preparing to retire and move.
On the builder’s and developer’s side, some are shifting into more senior developments and building smaller more efficient homes. Sustainable homes are very popular with baby boomers, too. Smaller lots, one story homes, communities with golf and/or other activities that can be found in some developments are more popular.
Baby boomers are ready to downsize and make their life simpler. No mowing lawns, climbing stairs, smaller homes mean less to clean, and so on. However, not all baby boomers want to move into developments. You will find they just want smaller homes in an existing neighborhood. Or they might want to build a smaller home in a subdivision or community. They might find an old home and restore it.
It has been said that once the government and the stock market settle down, and the market starts to turn, we will find many baby boomers who have been holding off retiring and buying that retirement home finally making their move. We might start seeing this happen as early as this year, 2012.
In cities, condominiums have become popular again. Life made simple for those on the go or retired. You might see more garden home subdivisions pop up due to demand.
In the country, you don’t have all the city options, so you might see the baby boomers buying and restoring the older homes in town, or building a smaller, more efficient home on a vacant lot. Some prefer to find a subdivision where they can build a less than 2500 square foot home.
Most baby boomers favor about 1500-2500 square foot homes in this next phase of life. Some are looking to build a small guest home beside their new home to accommodate their guest, which is another new trend. Here are some popular features they like: open spaces within a home, no more separate dining rooms and living areas, bigger closets, some possible handicap features added, and backyard living areas and patios are important However, each person will have their own want list, this is just the most common.
It has been reported, that there are approximately 77 million Americans who fall into the baby boomer category. So if all goes as predicted, we might start seeing a lot of housing changes in existing and new homes for the baby boomer group. Small might be the next big thing.
For all your real estate and building needs or questions, call Debbie at 830-833-4249 or 713-818-6658, or send an email to debbie@vallone realestate.net.