If you’re reading this article, I’m going to venture a guess that you’re a baby boomer looking to purchase a home more suitable to your lifestyle due to the changes in your life. Based on some recent market trends, a 55+ community just might be the right fit for you.
First of all, you’re not alone.
Baby boomers make up the second-largest home buying generation at 31% in the United States, second only to millennials who make up 35% of all buyers. While baby boomers are oftentimes looking to downsize, millennials are looking to upgrade for a growing family. This is good for the typical baby boomer because their style of home is in demand.
Additionally, with so many millennials crowding the market, there is officially a housing shortage. Low supply and high demand means we’re in a sellers’ market. Listing your home for sale now means you’re entering a market ready to swipe up your home quickly.
Now, you may be nervous about what buying power you may have since it is a sellers’ market, and competition is fierce.
That’s where it gets interesting for those looking at a 55+ community.
When it comes to your prospective purchase, you don’t need to consider the millennial home buying generation as competition when looking at a 55+ community! By deciding to look at 55+ communities, you’ve reduced your competition dramatically.
And the inventory for 55+ buyers is out there – you just need to know where to find it. In fact, 55+ communities are one of the most common new construction applications in our area.
Over the years, builders have elevated the quality of life opportunities in these communities. Today, 55+ communities focus on active, social lifestyles with stimulating design. Other appealing features often include open floor plans, ample access to amenities, such as tennis courts, pools, and social clubs, and transportation to all the community has to offer.
Residents have time to prioritize these activities since much of the maintenance, like landscaping and home repairs, are covered by a residential service. Each location is unique in what they offer, which is certainly a consideration I bring up with my clients when finding the right fit.
But while 55+ communities have their perks,
they are certainly not the right decision for everyone. Depending on your lifestyle you may find yourself straddling the fence on whether to make the jump or not. The good news is that you don’t have to take a leap of faith. My first step is to speak with clients about their wants and needs in order to create a portfolio of options that have the qualities of a home for which they are looking.
I’ve always found this to be successful for those transitioning from home to home, whether the decision is a 55+ community or not. I recently acquired a special designation as a Seniors Real Estate Seller (SRES), working with the 55+ community is a large part of my business!
Today’s market gives prospective 55+ buyers their own unique set of benefits, so take a look at the options available on my site here and click here to give me a call or an email and let’s take your next step together!