14 Jul Not Your Grandmother’s Retirement – Building for Boomer Buyers
The Boomer generation is setting a new precedent for aging and retiring. Unlike previous generations, boomers are continuing to lead active, healthy lives well into their retirement, and while they’re certainly looking for something different in a new construction home than millennials or Gen-Xers, they’re not necessarily looking for the single-level home on a golf course with a pool that is often associated with retirees. So, if you’re building homes to attract boomers, what do you need to include? Here are a few ideas.
They’ve raised their children and lived most of their lives in the suburbs, but now, more and more boomers are looking to live in more urban, walkable areas. While the appeal of warm climates and quieter communities remains, the ability to walk to dinner, or spend a day exploring a city is growing among retirees. If you’re not planning to build in an urban area, consider playing up local features that are within walking distance, or a nearby mixed-use development that provides that urban feel.
Boomers have been around through multiple markets, and they know what is worth an investment and what is just frivolous spending. As such, they understand the importance of quality, high-end materials in a new home – finishes that are impressive, but not flashy. And, because they’ve owned homes before, they know exactly what materials they want. Focus on high-end, impressive finishes that are made to last, and play up any name brands that are known for their quality.
As we mentioned before, boomers know what they want. They also want the ability to choose what they want. Setting up a sales center with options for finishes that allow the home to feel personalized an unique will appeal to their desire for luxury, and for options.
For boomers, there is no such thing as a cookie-cutter retirement. One buyer may be looking forward to hosting out-of-town family for long weekends and holidays, another may be ready to indulge their love of film and television, still another may be considering a new hobby or consulting work to pass the time. By providing plenty of flexible space in a new home – think of the possibility of guest rooms, media rooms, offices or home gyms – you’ll appeal to any potential boomer buyer’s needs.
They may be reinventing retirement, but if there’s one thing that boomers have in common with the retirees of older generations, it’s that they want more time to enjoy that retirement. As such, measures should be taken to reduce maintenance around the exterior of the house, and to make living in the house simpler. Boomers see technology as a tool more than as entertainment, so if you’re looking to add something cutting edge to the homes, consider a digital thermostat or other ‘smart’ features that make day to day life easier.
Have you seen your Boomer Buyers looking for anything specific in a new home? We’d love to hear your thoughts!
“Our new home” (CC BY 2.0) by Luna Jubilee / !bang poses