A Generation Ready to Invest in a Lifestyle
Guest Post: Athena Snow Senior Manager, Public Relations for Coldwell Banker.
Posted: January 07, 2020 by Matthew Hillier
How baby boomers are evaluating the luxury market?
With new developments continuing to rise across growing suburban areas in the U.S., developers are customizing their offerings to appeal to the homebuyer demographics in their markets. One of the largest homebuyer-pools is composed of baby boomers – a generation spanning from 1946 to 1964, mostly made up of empty nesters and many retirees. This generation makes up a group of the most astute buyers in the market, and when it comes to new construction homes, they highly value three distinct features when making a home-buying decision:
Lifestyle and flexibility
Retirement communities aren’t to everyone’s appeal. Owning a home near loved ones and a personal network is important, but many want the opportunity to diversify their surroundings, whether it’s owning a second home or traveling around the country. Investing in a place that offers a retreat-like experience is the ideal opportunity for those in search of a place where they can enjoy activities and amenities. Coastal communities and mountain retreats are some of the more popular options among retirees.
For those who plan to travel or visit a second home for part of the year, a home that requires minimal upkeep is important. Hard-wood floors versus carpets, stain-resistant countertops, or not having to worry about yard maintenance, can go a long way. A low-maintenance home also makes renting out a property a more feasible and convenient process. Finding a Home Owners Association (HOA) that provides the right services can be particular to the needs of the buyer.
Custom, luxury features
Life-long experience in homeownership has provided many baby boomers with a clear idea of what they want and value in a home, which is why many invest in the opportunities that offer customizable features. Generally, baby boomers on the market are looking to invest in their last home and want features that fulfill their long-term needs. Whether it’s convenient, high-end kitchen appliances or an expansive, one-floor open layout – these can be the deciding selling points for this generation.
Golden Eagle is an example of a community that appeals to buyers looking to invest in an active lifestyle with plenty of outdoor activities. This new community is located outside of Park City, where hiking, swimming, cycling and skiing are just some of the recreational activities available. Because location has always been an essential point in the homebuying decision, Golden Eagle wisely combines this ideal location, low-maintenance living and the option to an extended rental period of 90 days, for those who are interested in traveling for part of their year.