Baby boomers make up a substantial portion of today’s population. Because of a change in lifestyle they are downsizing and seeking detached town homes and villas as their number one choice of dwelling and a more modern and convenient way of life.
Baby Boomers contribution to the housing market is significant which is why builders and real estate agents need to cater to their needs. By gaining a better understanding of what this generation wants in a home, home builders and real estate agents can ensure a better future for the housing market. The older demographic makes up for a majority of today’s existing home equity. When members of this generation decide to downsize and change their housing structure meeting their needs is crucial, as this key demographic represents much of today’s home buying power.
2016 NAHB Study
According to the NAHB survey, 63% of baby boomers looking for a new home want to invest in a detached single-family residence. In addition, 65% of all buyers are interested in this type of property.
Members of the boomer generation also prefer single-story homes: Where 64% of all buyers expressed they would rather invest in this type of house, 75% of boomers indicated a single-story option is their preference when they are looking for a new house. In addition, 58% of boomers indicated wanting a full or partial basement.
Other generations that also seek out single-story homes and their respective percentages include:
¥ Generation X-ers (67%)
¥ Seniors (88%)
¥ Millennials (35%)
Baby boomers have such a large influence on the performance of the housing market, which is why home builders are constructing homes that represent what they want in their living space.
Team Boo High Pointe Realty has a new brand new luxurious detached town homes in the Stillwater community and Lake Elmo that are designed to appeal to the Baby Boomers. RG Construction have beautifully crafted these modernized detached townhomes to give Baby Boomers exactly what they want in their new living space.
For more info about the Ponds at Heirfert Hills go to: http://www.thepondsatheiforthills.com
For a private tour of these detached town homes call Team Boo at 651-231-3111.