Study Shows Boomers as Big Spenders in Real Estate

Apparently 60 is the new 40. "Baby Boomers" represent more than a quarter of the population, according to a recent survey, and they expect to work past the traditional retirement age, so don't refer to these people as seniors! A generation with active, healthy lifestyles, boomers are expected to live longer and create measurable trends in the real estate market within their population.

While showing no signs of retiring at the traditional age, active Boomers are buying second homes in their favorite vacation spots for that day in the sun. Most often, these retirement purchases are near water and/or recreational activities. While most retirees are moving to places they know well where their active lifestyles are entertained, many retirees are getting more comfortable with buying outside the United States.

As a group, this generation has unprecedented wealth that gives them choices not enjoyed by earlier generations. How this translates into the real estate market is that they seek quality over quantity in new homes, focusing on details such as granite countertops, beautiful appliances, and internet wiring over space. What they want from their houses and communities is a balance between a wide range of physical and cultural activities and the accommodation for medical needs, along with modern amenities and convenience.