21 Sep The New Appeal for Boomers
Age-restricted communities continue to make up a large segment of the housing market. Because of the changing needsand desires of the Boomer market, newer active adult communities have taken on a different flavor.
There are 76 million Baby Boomers in the nation, and they don’t want the same things that were important to previous generations.
CityLab.com reports that according to a 2013 Del Webb survey of Boomers, 79 percent of this demographic anticipate continuing to work in some capacity after they retire. Instead of desiring isolated, remote areas to quietly live out their days, these Boomers want to stay near the major city centers, much like Millennials.
What amenities and lifestyle choices are important to Boomers? Golf themed retirement communities are not exactly obsolete but are in decline in the current market.
Fitness and outdoor recreation has become more popular, like walking and hiking trails, biking, and indoor options such as yoga and kickboxing.
Putting these two factors together – metropolitan areas and fitness – actually makes it easier for builders, as growing interest in these types of activities are far less land-intensive as building golf communities.
Another new trend in Boomer retirees is being a single homebuyer. Downsizing is less important – this group wants space for family visits and they often start new crafts and hobbies that require additional rooms.
Historically, age-restricted communities have only appealed about 20 percent of Boomers, but that statistic is dramatically changing.