Baby Boomers Lifestyle Choices- Real Estate Questions & Answers (2)

By
Real Estate Broker Owner with Asheville 1031 Realty 209970

Lifestyle Choices - 10 Questions Baby Boomers Ask (2)
Asheville Real Estate Journal


For Baby Boomers making lifestyle choices, an understanding of appropriate solutions in perfect nest  building and maintenance is important. Yet, how would you define “appropriate”? If you are a high-flying Boomer who demands sustainable innovation and enduring excellence, that could mean you  demand high performance building strategies to make your perfect nest a comfortable, healthy and affordable place to live.

It could also mean that you  implement strategies to reduce energy and water usage, promote renewable energy use, help protect the land and natural resources where the home is built, and reduce pollution and the waste of natural resources during the manufacturing and construction phases and throughout the life of your feathered nest.


And then there is the question of MOVING. .or BUILDING. . or ???

Baby Boomers VIEW

 


To Move or Not to Move . As Boomers are making choices about Moving (or not) toward (UN) retirement,  a number of questions seem to arise-  especially around  the issues of home improvement and a spending plan for updates.   Frequently Baby Boomers ask about ways to ensure being comfortable over the coming years. Possibly that is why conversations about  planning for “aging-in-place” come to the fore- and with those conversations, the worthiness of universal design elements.

Baby Boomers have demonstrated a desire to gain insight into the value of sustainable innovation. (Note: In terms of industry planning, this suggests strong employment opportunities for skilled workers who can upgrade/modify homes to accommodate changing needs as we age.) Research shows that any number of Boomers who had planned to retire and move to a different home have taken a step back from making that decision.  Many of my clients confided that the recent financial crisis not only took a toll on the equity in their homes but on their retirement accounts, as well.

Here is Part 2 of my series on  Lifestyle Questions Baby Boomers Ask


Question 2.  Can you predict what age group is likely to buy our home? And in what kind of housing (age of home and condition) are future buyers likely invest?


Answer: YES there is a certain demographic- that being 20-30-something individuals and their families. Many Baby Boomers have been in their homes for many years, and,  like previous generations, many will turn over their homes to younger buyers.

In terms of the age and condition of our homes, the Boomer Generation tends to  live in more recently built housing- typically built from the1960s and 1990s. So a good number of our homes are around  20-50 years old. As far as the condition goes- many  Baby Boomer homes will be in need systems updates, remodeling, and repair.

Here's an interesting tidbit from The Joint Center for Housing Studies- Harvard University .
It seems that recent remodeling activity in houses built in the 1980s and 1990s shows that "...suburban housing stock lends itself to remodeling activity."  So, in answer to

 what kind of projects Boomers may choose to consider here is a list from the Harvard study.

1. Updating kitchens and baths
2. Increasing energy efficiency
3. Reconfiguring rooms
4. Updating heating and cooling systems
5. Enlarging garages
6. Adding decks,
7. Adding rooms for offices, gyms, or other activities that were not a part of typical home life when the homes were first built will continue to be demanded.

NOTE: Some of this remodeling (perhaps even the majority) could well be done when/if selling a home.

But what if you prefer to "Age in Place"?? Stay tuned for Part 3

© 2012 whd atwww.WhiteHair365.com
10 Lifestyle Choices and Questions Baby Boomers Ask

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Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. Cathy Bureau 05/19/2012 05:01 AM
  2. Winston Heverly 10/31/2012 08:02 PM
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Topic:
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Comments 17 New Comment

Rainer
108,253
Michael Murphy
Bienvenidos Real Estate

For this reason I moved my business to Mexico to assist of all the baby boomers that are looking for a warm affordable place in the sun with low cost of living and excellent health care at reasonable prices. Puerto Vallarta Mexico offers all these things.

May 27, 2012 10:17 AM
Rainer
258,302
Kimo Jarrett
Kimo's Lifestyle Solutions
WikiWiki Realty

Interesting perspective about boomers, however, I don't subscribe to the future forecast anytime soon. There's too much uncertainty about many issues, political, economic, employment and future of Medicare and Social Security that needs to be stabilized before the majority of boomers downsize; just my perspective!

May 27, 2012 04:31 PM
Rainmaker
1,163,185
Gene Riemenschneider
Turning Houses into Homes
Home Point Real Estate

I am seeing lots of Boomers moving here to one of our many fine Active Adult Communities.

May 27, 2012 06:54 PM
Rainmaker
612,958
Bob Miller
The Ruiz/Miller Team - Ocala's Dream Team
Keller Williams Cornerstone Realty

Hi janeAnne, great post and very nice summary on the Baby Boomers.

May 28, 2012 09:15 AM
Rainmaker
312,769
Frank Laisch
"The Insurance Guy"
Stewart Title Company

JaneAnne, I just seen this re-blogged. Excellent list of Boomers projects.

November 01, 2012 05:01 AM
Ambassador
717,457

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10+ YEARS SPECIALIZING IN LAND BROKERAGE & FOREVER HOMES. "Boomers" Properties. LAND for Pocket Neighborhoods. Family Retreats on Large Acreages. Horse/Organic Farms. Sustainable innovation, quality of property and life in with YOU IN MIND. ******************

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