With all the talk of millennials in the housing market, you rarely see headlines addressing baby boomers’ needs. However, Freddie Mac recently reported that 40 percent of surveyed members of the generation would like to move at least one more time, and 70 percent of those respondents are likely to buy.
For that reason, homeowners trying to sell may want to consider gearing their efforts toward appealing to this market. If you need to bridge a generational gap to do so, here are some tips:
Turn a spare room into a home office
According to the National Association of Home Builders’ Housing Trends for Baby Boomers report, home offices are one of the top desirable features for this generation. As baby boomers head into retirement, home offices allow them the opportunity to transition from the working world to staying at home, as the report explains. Having a home office gives them the opportunity to bring in an extra income while still enjoying their retirement.
Talk up any low maintenance features
Another trend among this group of buyers is a tendency for low-maintenance homes. If your property is easy to take care of, be sure to boast that – especially if you have an open floor plan.
“Our buyers aren’t necessarily downsizing – or at least not significantly – because they want to bring their furniture, art and such along with them, but they are looking for a more efficient floor plan,” Brian Hoffman, the vice chairman of Red Seal Homes in Chicago told New Homes Source. “Open concept with large rooms and plenty of storage is important, as is either single-level living or adding an elevator when stairs become more difficult for them.”
As you would with any other buyer demographic, present your home as a blank canvas on which baby boomers can plan their retirement and add features that allow them to live comfortably as they age.
New appliances and other updates can make a huge difference in appealing to baby boomers.Update and upgrade wherever you can
According to the 2015 Home Buyer and Seller Generational Trend Report from the National Association of Realtors, the top reason for baby boomers to buy a new home is to have new features and amenities, thus avoiding the common problems and maintenance requirements of older constructions.
If you aren’t trying to sell a newer model, that doesn’t mean you can’t make some adjustments to meet these demands. Upgrades like new appliances can be a huge plus for this generation.
Show off your neighborhood
The NAR survey also found that baby boomers are interested in living in good communities, with nearby attractions like shopping centers and health facilities. If your home is in close proximity to these areas, talk that up as much as possible. It could sway a baby boomer buyer into making an offer.
To learn more about Indianapolis real estate, contact Newkirk Realty today!
