A lot of attention goes toward selling homes to the millennials, but we shouldn’t ignore the Baby Boomer generation. Baby Boomers are those born between the years of 1946 and 1964. Although these nearly 76 million Americans are growing older, they are certainly not ready to move to a retirement home. Many Baby Boomers are looking to move closer to family or downsize their current property to accommodate their changing needs.
If you’re planning on making your properties appealing to Baby Boomers, here are five tips to keep in mind.
Many are hesitant to take on a new loan.
Some Baby Boomers have paid off their current property, which means they might have to take out a new loan to buy another home. While some older buyers don’t mind having a mortgage payment every month, many do.
If you want a Baby Boomer to spend more on a new home than what they sold their last home for, you’ll need to sell them on value. This includes many of things that we’re going to talk about today, including maintenance-free exteriors, open layouts and first-floor bedrooms and bathrooms.
They want open floor plans.
According to the National Association of Home Builders, 84% of new single-family homes have open layouts. Older homes, too, are getting facelifts that involve knocking down walls and opening up spaces.
Open layouts are popular for a number of reasons. They increase square footage, improve natural light, offer more flexibility and make socializing easier. Baby Boomers value all of these attributes, especially as many still host the holidays and invite family and friends over. Bonus if the new home is closer to children and grandchildren!
They want one-level homes for aging in place.
Ranch-style homes are easiest to sell to Baby Boomers. These properties are easier to clean and care for, and homeowners don’t have to worry about going up and down the stairs.
Storage is still an issue, however. Baby Boomers love their “things” and still come with a lot of them! The best one-level homes feature a full basement for storage purposes as well as large, walk-in closets and pantries.
They prefer first-floor bedrooms.
Some new homes are built with first-floor bedrooms and master bathrooms. These properties sometimes feature two additional bedrooms and a loft upstairs, which is perfect for friends and family that come to visit. Baby Boomers like having accommodations for relatives while being able to carry out most of their day-to-day activities on a single floor.
They want maintenance-free exteriors.
Baby Boomers have taken care of their homes for the past several decades, and many are tired of it. If you want to be successful in selling a home to a Baby Boomer, you’ll need to find a property that is easy to maintain. Look for communities that provide snow removal services and lawn care services.
In the end, Baby Boomers are still buying homes. Most are downsizing and looking for homes that are easy to care for and maintain, plus are suitable for aging in place. If you have a property that fits this criteria, you can easily sell it to a Baby Boomer. They are some of the best homebuyers to work with!