As we find ourselves getting back to 2005 levels within the next year or so, we cannot forget what caused the 2010 spike. In 2010, 7.7 million families lost their homes to foreclosure, 1.2
A Second Wave Of Baby Boomers And Their Needs
There are 76.4 million baby boomers living in the U.S., according to the U.S. Census Bureau. Baby boomers can be separated into different segments, but the defining factor we need to look at carefully is their house buying needs. According to a study by The Farnsworth Group, the top three reasons this second wave of baby boomers are buying is as shown by the chart.
The report also found that when buying a home, these were their main concerns:
When it comes to general concerns, house construction (9%), a safer neighborhood (8.4%), better floor plans (8.25%) ranked the highest
When asked about the areas of the house, the kitchen (82.8%), master bedroom (59.2%), and great room (36%) led the charge
Technology was an important feature highlighted by the buyers: wireless security systems (7.1%), lighting that senses and adapts to them (6.3%) and integrated home technology, including “smart” thermostats and lighting controlled by a smartphone (6.2%) were the top contenders
Feeling a part of the community was a must have as well. This second wave of baby boomers are looking for a house that is easy, breezy, and fun to match their fast-moving life style while giving them something stable.
Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consistently been in the top 10% in sales for over a decade in 2 states. In order to accommodate a rapidly ex....
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