It’s that time of year when kids are heading off to college and empty nesters will start to think about downsizing. Baby boomers and empty nesters are buying new homes in droves and they know exactly what they’re looking for in a new home. So what are Boomers and empty nesters looking for as they start the next phase of their lives? Here are a few of the most important priorities that these groups have when they are looking to buy a new home:
Once the kids go off to college most parents are looking to get rid of the large family home that requires a lot of upkeep. That means that they will be looking for a home with less square footage that has to be kept up. This is great news for agents who have had a hard time selling smaller homes. These buyers want homes with fewer bedrooms and smaller yards that aren’t going to take a lot of work to keep up.
Even though Boomers and empty nesters are going to be focused on smaller homes, they want homes with upgrades and amenities. They are looking for a move in ready homes with high-end finishings and all the extras. The good news is that usually they are informed buyers. They know what those extras cost and they usually have the budget to pay for them. HOA communities that offer a lot of extras like walking paths, gyms, pools and other amenities are a great fit for these buyers. The more services they can access right in the neighborhood the happier they will be.
Unlike families looking for homes with lots of bedrooms and matching square footage, when Baby Boomers and empty nesters downsize they prefer homes with space that is more flexible. Open concept plans that incorporate flexible spaces like screened porches, three season rooms, finished basements and large garages are very popular with these buyers because they can use that space in a lot of different ways. Home offices are also in very high demand.
Many of these buyers want to buy a new home in a community where there are families as well as older people all living in the neighborhood. After so many years around the hustle and bustle of a busy family, many of them love living near other families even if their own families are grown up and have moved out. They want their new home to still have a sense of community spirit where people are actively involved in community decisions and trying to make the neighborhood a great safe place for everyone. Planned communities are a fabulous choice for Baby Boomers and empty nesters.
Read more about living in Edmonton, AB, or Looking To Buy or Sell Edmonton Real Estate. Contact Us