On average, the American population is getting older. More than 76 million Americans were born between 1946 and 1964 (the baby-boom generation), which means a large portion of our population is aged 50 and older. Baby boomers are either retired or reaching retirement age, and they are quickly becoming empty nesters.
These aging Americans are looking to downsize because they no longer want or need their five-bedroom, two-level homes. A home that better fits their current lifestyle is much more appealing, especially if it means they don’t have to make the move to a retirement home.
When Tarek and I are flipping a house in a neighborhood that attracts baby boomers (a less expensive neighborhood with smaller homes), we make sure to include features that appeal to this generation. An easy-access shower or a main-floor bedroom may be some of the features that first come to mind, but baby boomers have other preferences and needs that make a future home more appealing.
If you’re flipping a home that could attract baby boomers, you’ll want to keep these tips in mind as you renovate.
While baby boomers may be looking to downsize in square footage, they’re looking to upsize the luxury in everything else. Budget-friendly remodeling tricks (such as painting the kitchen cabinets) might work just fine for younger homeowners, but chances are baby boomers will be a little more choosy. After all, they’ll most likely be living in this home for the rest of their lives.
You can’t go wrong with installing luxury features like wood floors, granite countertops, and stainless steel appliances. These features are sure to bring potential baby-boomer buyers to your flip.
Baby boomers are tired of living in an old home that requires maintenance and work. Instead, they want something new that provides more convenience and less stress.
Boomers love modern appliances that they won’t have to repair, a yard that’s easy to maintain, energy-efficient windows and doors to save on their heating bills, and a large, open floor plan that provides lots of space and natural light.
Additionally, baby boomers prefer a one-story home because they won’t have to go up or down stairs to get to their bedroom.
Many baby boomers are still in the transition phase from working a full-time job to retiring. Often boomers want to keep working even after they’ve retired because they enjoy bringing in the extra income. A home office will allow them to work from home without having to commute every day.
While you don’t necessarily have to spend a lot of money on transforming a room into an office, setting aside a room to be used specifically as a den or an office will be appealing to those baby boomers who want to continue working.
This goes hand-in-hand with more convenience, but I can’t seem to stress it enough. Put simply, baby boomers want a yard that doesn’t need a lot of work.
While finding a zero-maintenance yard is not very likely (except, of course, in maintenance-free communities), hardscaping a portion of the yard or replacing the lawn with a patio will cut down on yard work.
Baby boomers love extra space – but it has to be flexible space. They enjoy space they can adjust to their lifestyle and preferences. Rooms they can easily transform from a guest room into an office and then a hobby room are much more attractive than a space meant to be a bedroom forever.
Boomers like the freedom to choose how they use their extra space, especially when it doesn’t require a lot of work on their part to make the changes.
Baby boomers require unique features in their homes, which can be overwhelming if you’re not sure how to appeal to their generation. But keep these tips in mind during your next flip and you’re sure to attract baby boomers.
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- 7 Safety Upgrades and Tech Tools for Seniors Living Alone
Source: Zillow Feed