Downtown: Calling Boomers!
It turns out that, like many other things, today’s retirement location is not your father’s retirement community!
Clare Trapasso, a Realtor.com staff member, reviewed a 2016 National Association of Realtors report and noted, in a Realtor.com article, an increase in the number of buyers aged 50-59 purchasing homes in urban areas — and there’s been an almost 10% increase year-over-year.
And, it’s not unexpected, to some extent. Boomers have changed many things over the last 50 years; why not retirement living? Instead of moving to traditional retirement areas in the South and Southwest, Boomers are moving to urban centers from the suburbs in increasing numbers.
And, they’re looking for many of the same amenities as Millennial home shoppers: walkability, amenity-rich environments offering shopping, dining, cultural venues and opportunities for learning — through both traditional colleges as well as learning centers.
What’s a builder to do? First, minimize all of the entanglements associated with suburban living — maintaining all of the amenities, driving to shop, locating services and the like. And take a serious look about incorporating elements at the top of Boomer wish lists:
- On-site services — think fitness centers, on-site pet and housekeeping services and a concierge. As well as “neighborhood” rooms for cooking lessons, wine tastings and book clubs!
- Neighborhood walkability — this is key; in many cities, Boomers are revitalizing the historic downtown as they have the money to spend to dine, shop and enjoy museums, concerts and theater. While employment hubs aren’t as important to this buyer, the ability to live life without relying on a car is critical.
- Flexible floor plans — Many Boomers are downsizing but they’re interested in designing their new home around current interests and needs. And, cookie-cutter doesn’t work. One person’s second bedroom is another’s craft room and another’s home office.
What about involving your home shopper in the conversation surrounding your neighborhood and community lifestyle? Take a look at CPS’ Social Media Wall — designed to merge traditional marketing content and copy with social media to focus the discussion on what makes your community talk to these new urbanites! #GetSocial!