Top Community Features for Baby Boomers
While many in the real estate industry are focused on the wants and needs of millennial buyers, older generations of home buyers still have a lot of purchasing power. Baby boomers actually make up 31 percent of the home buying population, and real estate pros need to be familiar with their housing and neighborhood preferences.
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According to NAHB's new Housing Preferences of the Boomer Generation report, this generation seeks out single-family detached homes in low-traffic communities. In fact, nearly 80 percent of boomers say they prefer cul de sac designs since they limit the traffic-flow.
This study collected information from 4,326 recent and prospective buyers of all demographics. NAHB asked respondents to label 19 community features as essential/must-have, desirable, indifferent, and do not want.
Most essential community features for boomers:
- Single-family detached homes
- Close access to retail
- Proximity to a park or walking/jogging area
- Living near a lake
- Outdoor maintenance service provided
Check out the full report here.
Source: "Boomers Prefer Suburbs and Cul de Sacs," Eye on Housing Blog (Feb. 11, 2016)
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