Baby Boomers in the House Hunt

While much of the discussion has been centered around what millennials want, there should be just as much focus on what the baby boomers are looking for. The 76 million boomers, born between 1946 and 1964, may be getting older, but they are definitely not ready for the retirement home.

Boomers are in a good place financially to drive much of today’s housing activity. As many boomers have their retirement savings in 401ks and already own homes, the all time highs in the stock market and the positive equity for many homeowners disproportionately benefits boomers.

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Baby boomers will drive home design just as much as millennials in 2018. One size does not fit all for each baby boomer buyer, but these are some common trends according to Zonda by Meyers Research.

1. Single-story with options - 79 percent of Active Adult homes are single-story, and while it is preferred, offering an optional second story or pop top goes a long way.

2. Customizable space - Give as much flexibility with space as possible. One buyer may use the spare space for a craft room, while another may prefer a card room.

3. Socializing is very important - Allow for a great room to support gatherings, including a large kitchen.

4. Regional amenities - Piggybacking on regional amenities like restaurants, shops, and grocery stores. “Resort-like amenities, bistros, and bars that promote social interaction and support for active and healthy living are some of the biggest selling points for AA buyers,” said Michelle Weedon, senior vice president of advisory at Zonda.