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What are Baby Boomers looking for in their next home?
The youngest of the Baby Boomer generation (born between 1945 and 1965) are staring at the 55-year mark. With more than 76 million people falling into the Boomer category, they’ve always had a powerful impact on the cultural trends and choices of this country.
Most of them are seasoned homeowners. They understand how to choose and purchase a home. Now that their lifestyle has changed, they’re seriously considering a new home. The kids are grown (and, hopefully, out of the house). Maybe they don’t want to climb stairs in a multi-level home, or perhaps the endless upkeep of a yard is no longer appealing.
However, the next home might represent a lasting one, so they have factors that other homebuyers might not worry about.
One of the biggest factors for a Baby Boomers’ move is the location. They want to stay close to where they have been living. A recent CoStar Group study showed that 80 percent of people aged 55 years or older moved within their own county or state. Baby Boomers have shown that they want to stay close to their family and friends. They don’t want to change doctors or find a new mechanic, salon, or favorite restaurant.
Once they’ve determined where they want to go, they narrow the search. A single-level home is ideal. They don’t want to deal with stairs. In the event any of the residents becomes wheelchair-bound, an open floor plan enables easier movement.
Affordability is a concern for people who are looking at retirement years with a fixed income. They want a home that’s within their budget and includes energy efficient features that represent valuable cost savings.
Maintenance is a big issue with active adult homebuyers. They’ve spent most of their lives taking care of their yard and they’re ready to give up that task. For some people, that could mean moving to a condominium or townhouse, while others still prefer the privacy of a single-family home.
Epcon Communities was founded in 1986, long before the first Baby Boomer reached the age of 55. Founders Ed Bacome and Phil Fankhauser saw the need for single-level homes that incorporated quality design and construction with low maintenance. Then, they added the value of an active adult community lifestyle, with amenities that encourage recreation and socialization. If you’re thinking about the right place for your move, consider one of the Epcon Communities located around the U.S.