12 Aug Boomer Housing Trends
Boomer tradition is to sell their oversized suburban home and move to a new home for their new stage of life. While this remains constant, their priorities are changing.
What’s important to Boomers?
Before even considering retirement, boomers have a desire to own their home, free and clear. This means paying off their mortgage is a crucial milestone in the retirement process.
Downsizing is great for not only a maintenance free lifestyle but also to free up some boomer equity for travel, medical expenses and renovation costs they are likely to encounter in their new home. Downsizing also means more convenience, with modern and energy efficient appliances, open floorplans, and one-story living.
Walkable neighborhoods are a high priority as well. Putting the days of commuting behind them, boomers are ready to visit the new neighborhood coffee shop or restaurant on foot.
90% of boomers want to stay on their own as they age. They see themselves in their own neighborhood surrounded by friends and family, not in age-restricted or assisted living communities.
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