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

By
Real Estate Broker/Owner with Signature Mountain Homes and LAND- Asheville 1031 Realty, Inc. 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-Blogged 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
Topic:
Home Selling
Location:
North Carolina Buncombe County Asheville Eco Green In Asheville
Groups:
Diary of a Realtor
The Ninety-ninth Percentile
Young at Heart
Posts to Localism
BananaTude
Tags:
universal design
handicap accessible homes
baby boomer trends
aginginplace
baby bommers

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Ambassador
1,426,804
Anna Banana Kruchten
Phoenix Property Shoppe - Phoenix, AZ
Phoenix Real Estate Agent, CRB, CRS 602-380-4886

janeAnne you give a lot of food for thought on this boomer issue.  We're thinking of moving in 3 to 4 years and this is giving me ideas as well!

May 15, 2012 03:52 PM #1
Ambassador
725,573
Debb Janes
The Carl Group, LLC - Camas, WA
REALTOR®, EcoBroker Camas, Washington

janeAnne, you are a wise woman. I love your EcoBroker speciality combined with Babyboomers, you're a woman after my own heart. These two issues are going to become more and more important.

May 16, 2012 06:42 AM #2
Rainmaker
364,165
Cathy Bureau
www.GreenHomeRealty.com - Alamo Heights, TX
Your Personal Real Estate Concierge

Wow this is great JaneAnne, sorry I haven't been around. Being the info girl that I am, I'd love to borrow this content (below)  myself if that's okay with you...

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.


Sincerely,
Cathy Bureau
♥X☺X☺X☺♥

May 19, 2012 04:59 AM #3
Ambassador
735,957
ASHEVILLE 1031 SIGNATURE PROPERTIES specialists in - LAND,INVESTMENT ACREAGES, AND LUXURY HOMES
Signature Mountain Homes and LAND- Asheville 1031 Realty, Inc. - Asheville, NC
Tell Us What Is Most Important to YOU

Hi Anna~

If you are thinking of moving...possibly also consider walkable neighborhoods with a new urbanist flair...(more on this later)..=)

May 19, 2012 06:31 AM #4
Ambassador
735,957
ASHEVILLE 1031 SIGNATURE PROPERTIES specialists in - LAND,INVESTMENT ACREAGES, AND LUXURY HOMES
Signature Mountain Homes and LAND- Asheville 1031 Realty, Inc. - Asheville, NC
Tell Us What Is Most Important to YOU

TOTALLY..Debb!

Always a plan to see into the future and provide information that can be helpful for our real estate clients (AND US!)

May 19, 2012 06:33 AM #5
Ambassador
735,957
ASHEVILLE 1031 SIGNATURE PROPERTIES specialists in - LAND,INVESTMENT ACREAGES, AND LUXURY HOMES
Signature Mountain Homes and LAND- Asheville 1031 Realty, Inc. - Asheville, NC
Tell Us What Is Most Important to YOU

Dear Cathy~ 

Mais certainment!

I am so happy when our clients can get this kind of information. It can be helpful for them (and us) as we and they make buying and selling decisions...Baby Boomers looking at lifestyle choices can do some good forward planning when they have the research info...

May 19, 2012 06:35 AM #6
Rainmaker
364,165
Cathy Bureau
www.GreenHomeRealty.com - Alamo Heights, TX
Your Personal Real Estate Concierge

Oh thank you Jane! It is the right email :-)

Sincerely,

Cathy Bureau
♥X☺X☺X☺♥

May 19, 2012 06:39 AM #7
Rainmaker
1,457,743
Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)
Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

We are familiar with all the active 55+ communities here on Long Island and Baby Boomers are certainly making lifestyle choices. Some only want to downsize into smaller leisure lifestyle condos, but we are also working with Boomers who want smaller homes but don't want to live with other 55 and over!

May 27, 2012 05:07 AM #8
Rainmaker
132,587
Liane Thomas - Corona & Riverside Real Estate
The Jet Team, Keller Williams Realty, Corona Real Estate - Corona, CA
Bringing you Home!

Looking forward to part 3! We are seeing a lot of boomers downsizing in our area today. They have been waiting for the market to improve and just cannot wait anymore!

May 27, 2012 07:37 AM #9
Rainer
184,548
Bill Fields
Bill Fields Learning Systems - Treasure Island, FL

BIG market segment with clearly defined expectations and desires. Appreciate your insight on what us baby-boomers want.

May 27, 2012 08:29 AM #10
Rainer
167,481
David Evans
RE/MAX TOWN AND COUNTRY - Cumming, GA
HUD NLB Cumming GA

This segment is just beginning to emerge and those that prepare for them will be compensated for their efforts. Excellent post!

May 27, 2012 09:06 AM #11
Rainmaker
703,175
Sharon Parisi
Keller Williams Dallas Premier Realty - Dallas, TX
Dallas Homes

janeAnne, this is another fabulous post!  I just read the Harvard Study and the conclusion is right on target.  I love that a young person studied this topic and wrote the paper. We are living these stats in our day to day real estate transactions. It is great to have a study from a respected institution that backs up the trends we are seeing as Realtors.  Thank you!!!

May 27, 2012 10:08 AM #12
Rainer
111,403
Michael Murphy
Bienvenidos Real Estate - Parksville, BC

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 #13
Rainer
279,302
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Kimo's Lifestyle Solutions

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 #14
Rainmaker
1,254,760
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

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

May 27, 2012 06:54 PM #15
Rainmaker
633,106
Stephanie/Bob The Ruiz/Miller Team
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

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

May 28, 2012 09:15 AM #16
Rainmaker
313,173
Frank Laisch
Stewart Title Company - Tampa, FL
"The Insurance Guy"

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

November 01, 2012 05:01 AM #17
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