Baby Boomers. There are approximately 79 million of ‘em living in the United States. The name alone invokes a cornucopia of images: The Beatles, Watergate, Vietnam War, JFK, Elvis, Mr. Potato Head, Barbie, and Beaver Cleaver.
In 2011, the first Baby Boomers will turn 65 years old. The hippies of yesterday have moved to the yuppies of today and hover as the largest retirement generation in U.S. history. That’s a lot of Betsy Wetsy dolls and Rock’em Sock’em Robots.
According to Del Webb research:
- 36 percent of Boomers will move or plan to move when they become Empty Nesters.
- When they retire, 55 percent say they will move.
- 26 percent of Baby Boomers will consider purchasing a home in an age-qualified Active Adult Community.
Furthermore, Boomers who moved or will consider moving from their old Empty Nest cite wanting a smaller house (44 percent) and one that requires less maintenance as their top reasons for moving. Upon retirement, they say maintenance will be the paramount issue in choosing a home (62 percent), but they also will want a smaller home (23 percent).
So what is an age-qualified active adult community?
Typically created for individuals over 55, these communities are built to accommodate home owners looking for low maintenance housing with amenities such as swimming pools, golf courses, clubhouses, craft rooms, and activity centers. And to address the elephant in the room head on: there are no kids allowed. Although this may cause prickles for some, a significant segment of the population sees the benefits to living among peers only.
Locally speaking, Birch Creek in Marysville, Washington is part of the age-restricted real estate movement offering single family dwellings. This type of living arrangement may see a leap in popularity in the next couple decades. In the U.S. alone, the number of people 50-69 is expected to increase by 87% over the next 15 years. The really good news for baby boomers? Polyester pantsuits are coming back in style. . . .Far out, man.
I’m Joni Kerley; I specialize in real estate located in Snohomish County. You can reach me at 425-343-4545 or you can e-mail me at: firstname.lastname@example.org.
*Photo courtesy of stock.xchng, photo credit Sue Pizarro.