What Do Second-Wave Baby Boomers Want in a Home?

According to a recent study, second-wave baby boomers have varied reasons for wanting to purchase a new home, and they feel that that new home should be able to adjust to their changing needs in the future.

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Did you know that there are approximately 76.4 million baby boomers living in the U.S. today?

Contrary to what many people think, there are many different segments within this generation, and one of the things that sets them apart is their housing needs. John McManus, editorial director of the Hanley Wood Residential Group, says his company is focusing on the preferences of the younger half, or second-wave baby boomers, as they exhibit different needs than the older segment of this generation.

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Second-wave baby boomers want homes that can adjust to their changing needs.

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What are second-wave baby boomers looking for? They are seeking a fun, dynamic lifestyle with a home that can also adjust to their changing needs in the future. Second-wave baby boomers say living space should either include accessibility features such as doorway space, lower shelves, and nonslip surfaces, or be easily adjustable when the time comes.

In a home buyer study performed by the Farnsworth Group, second-wave participants revealed their reasons for purchasing a new home. In the video above, I’ve provided a graph that lists the top three factors that influence their purchasing decisions.

• 50.2% cited area or location, wanting their new homes to be near shopping, dining, medical services, and entertainment. 
• 37.4% focused on price or affordability. 
• 19% focused on the layout of the home. 

The report also found that when buying a new home, they had other concerns too. 8.4% wanted a safer neighborhood, and 8.25% were looking for better floor plans, with the most important rooms or areas being the kitchen, the master bedroom, and the family room.

Technology also plays an important role. Second-wave baby boomers prefer wireless security systems and integrated home technology, including smart thermostats and lighting controlled by a smartphone.

The bottom line? If you are one of the many second-wave baby boomers who is starting to feel like your current home no longer fits your needs, take advantage of the low inventory of existing homes in today’s market by selling your current home and moving on to one that truly fits your new lifestyle.

If you or anyone you know is thinking about buying or selling a home, call or email me today for a free real estate consultation. I look forward to talking with you!