Boomers Expected to Change Housing Priorities

Developers and builders expect baby boomers to re-emerge in the real estate market soon, but they say boomers likely will come with a simpler agenda when it comes to what they’re looking for in a home.

“We have an opportunity to rethink a lot of the things we’ve done” in designing communities and homes that are intended for that age group, says Douglas Van Lerberghe, a land planner in Denver, who spoke during the National Association of Home Builders conference in Orlando, Fla., last month.

Housing experts predict retiring boomers will want a greater variety of housing styles, smaller homes, and developments that are restricted to older buyers.

Other high priorities they expect from this age group:

▪ Younger boomers will want to continue to work so homes close to job hubs will be important and home offices in floor plans.
▪ Walking trails are a No. 1 amenity desired by this age group.
▪ Gated access to communities and security is important.
▪ Expanded storage into garages.

Source: “Boomers Set to Reshape Housing Market, Again,” Chicago Tribune (Feb. 13, 2011)

Read more:Living Big in a Small Home