If you’re a Baby Boomer, it’s time to start thinking about retirement and the type of living arrangements you’ll have to choose from in the future. Today’s real estate trends influence how your Golden Years will pan out. A choice you make today could impact how you live out the next decade. That’s why it’s important to plan accordingly by studying trends and learning why they matter to you.
The Top Trends You Need to Be Aware Of
As a Boomer, you’ve had some time to save for retirement. Your savings and investments dictate the type of lifestyle you’ll live in the future. Current real estate trends influence how you spend your money. Investing in the right residence can significantly impact the speed in which you go through your savings.
Small Homes are as Desirable as Large Homes
With 78 million Baby Boomers, the need for housing is imperative. A majority of the senior population, an alarming 87 percent want to stay in the homes that they currently own. They’ve either already paid them off or plan to do so before retiring. Still, there is a small percent of the population seeking new housing, and many don’t mind smaller spaces to live in.
Tiny houses or ‘granny pods’ are incredibly popular due to the small amount of space that they take up and the affordability that they bring. Older Americans don’t mind living on the same piece of property as their children. They do, however, prefer to have a place of their own, no matter how old they are.
Home Automation Makes Senior Living Easier
From smart lighting to robotic vacuum cleaners, today’s homes are tech-savvy. More houses integrate automated features thanks to advanced technologies. Smart homes have changed the way that seniors live, making it much easier to do so alone for longer. When developers build properties, they consider smart home features in addition to things such as modern appliances and walk-in showers.
To appeal to seniors who want to live in houses versus moving into retirement and nursing facilities, the properties must meet their needs. With everything accessible at the touch of a button, they can control the thermostat and lighting with the greatest of ease. Smart speakers and video devices make it easy for them to contact family or their doctors through the use of their voices. If features like this appeal to you, looking to install them in your current home or buying a home that offers them is highly recommended.
Housing Trends Dictate How Baby Boomers Choose to Invest in Real Estate
Trends come and go, but they do affect pricing, location, and convenience. Knowing what you can about them helps you decide which are relevant to you. They give you more opportunities to prepare for the future by helping you predict what comes next.
Baby Boomers are affected by current real estate trends in numerous ways, as demonstrated here. Being able to find affordable housing in locations that were once full of snowbirds and retirees is becoming more difficult. Coming up with a plan for housing post-employment is imperative for Boomers, who now have to manage their savings very carefully.