As the Boomers Retire

The eldest Baby Boomers are beginning to retire, and many who are entering the housing market today are likely to downsize. Attached homes may appeal to them because of the reduced need for maintenance. If they are beginning to find that stairs are difficult to navigate, they will favor one-story floor plans. Many Baby Boomers still consider themselves to be young and vital. Indeed, they are far more health conscious than previous generations. Advances in medicine and increased longevity should make them an active part of the housing economy for years to come. A recent study found that Americans age 55 and older look for homes that are close to such resources as shopping centers and medical facilities. They like suburban living but don’t want to be too far off the beaten track. When asked what home amenities they preferred most, these adults responded with the following top five choices:
1. A washer and dryer within the home
2. Adequate storage space
3. Windows that open easily
4. A master bedroom on the ground floor
5. A thermostat that is easy to use
Source: 2009 National Association of Home
Builders and the MetLife Mature Market Institute