The Top 4 Things Baby Boomers Want in a New Home - As the Baby Boomers get older, many are making plans regarding their futures. Housing is a main focus, as they must decide if they want to continue living in their current home, purchase a new one, or move into an assisted living facility. If a recent survey is any indication, Baby Boomers are definitely willing to buy. In fact, most Baby Boomers have similar home buying preferences! The National Association of Home Builders (NAHB) conducted a poll, asking Baby Boomers around the country questions about their current homes and their housing plans for the future. Below are some of their top findings – and how they’ll affect contractors’ future plans:
1. Size matters
Nearly one-third of everyone surveyed said if they had to choose between a smaller home with quality products or a larger home with fewer amenities, they'd take the smaller one. But they don't want to be cramped into a tiny space! Almost half of Baby Boomer respondents said they'd like their new home to range between 1,600 and 2,499 square feet. In fact, for most of the people surveyed, adequate living space and number of rooms is the number one factor that would influence them to purchase a new home.
2. They like the ‘burbs
Survey respondents were also asked where they would like their home to be located. They were given four choices as a response – a home in an urban setting, a close suburb near city life, an outlying suburb, or a rural location. Nearly 40% of prospective Boomer buyers said they'd choose an outlying suburb, 28% said a close suburb, 28% responded that they'd like a home in a rural location, and only 7% said they want to live in an urban setting. Simply put, Baby Boomers want to be close enough to city life so they can enjoy it when they want to, but also prefer to live far enough away where they don't have to deal with it on a day-to-day basis.
3. The easier, the better
More than one-third of all Baby Boomers polled said the number one determining factor that could influence them to buy a home is a better insulated or sealed home. That’s because a home with good insulation is easier to heat and cool during the winter and summer months, keeping electric bills low, and requires less upkeep. Speaking of upkeep, that was the third most common answer to the “what will influence you to buy a new home” question. More than one-third of all Baby Boomer respondents said ease of maintenance matters most to them.
4. Not everyone plays golf
Retirement and golf often go hand-in-hand, but according to the survey, Baby Boomers don't want to live on a golf course. In fact, seven out of every ten survey respondents replied that they did not want their new home to be in a golf course community. Compare that to the 18% that said they were indifferent, and the 12% who answered that they would find that “desirable” or “essential.” Baby Boomers may out head to the links more often once they are retired, but according to the survey, they'd rather drive to a course than live on one!
While the survey certainly doesn't take into account every Baby Boomer living in America, it does give builders some indication of the types of homes that consumers who are just past or near retirement age are looking for.
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