Is Your House Buying Style Like Other Baby Boomers?
The Baby Boomer generation is described as being born between 1946 and 1964 and they are a powerful generation of home buyers. Statistically, Baby Boomers account for 31 percent of the home buying population. They are a generation who were taught the value of working hard and they remember what life was like before the internet and doing just about everything from your cell phone.
Baby Boomers in general have strong purchasing power. Older Boomers have the same median income as Millennials, approximately $76,000 for each, and Younger Boomers have a higher purchasing power with a median income of $96,600.
If you are in this generation, you may be entering the stage where it is time to consider downsizing your home. But what do you look for? What matters to you most in the next property you buy?
There are some typical Baby Boomer preferences that may surprise you, or you may find you fit right in with their way of thinking about home shopping:
Do you have a type of property in mind (what it may look like and amenities and features it must have?) Baby Boomers like to browse listings long before they head out the door to actually shop for their next home. Many click on the Berkshire Hathaway Verani Realty website and explore their possibilities for weeks before they even contact a Realtor. Baby Boomers like to research and know all their options, then choose what fits them best.
Do you seek more freedom from your next home? Yes, you loved the beautiful landscaping, the acres of land, and having more bathrooms than you really needed, but maybe you are tired of keeping up appearances. Many Baby Boomers seek smaller homes that still offer the luxury or perks that appeal the most to them, but with less square footage and maintenance. This is where a beautifully appointed townhouse or a smaller property stands out above the spacious estates that once drew your attention.
Do you seek an experienced REALTOR who makes time for face-to-face conversations? Baby Boomers like the convenience of text messaging and viewing new listings online, but they also value the personal service and expert advice of a REALTOR who takes the time to returns phone calls and have face-to-face conversations too. They seek the best in knowledgeable service during the selling and buying process, but they also want to really like and trust their Realtor.
- Are you waiting for just the right time to downsize? If you are like many Baby Boomers, taking the first step is hard. You have made memories in your large, family-sized home. Moving seems daunting. But, eventually you begin to see that downsizing has so many benefits and added freedom of time (and spending cash) that it is a wonderful next step in your life. The excitement begins to take over any doubts.
If you answered yes to two or more of the above questions than you probably have many typical Baby Boomer thoughts about downsizing and buying your next home. So, start browsing now at Verani.com, decide what you want to look for in a new property, than call your friendly, experienced REALTOR to get you started.
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