Baby Boomer Buyer Wants

Two minute read, three including the video

Fast facts 

• 50 to 74 years
• 2.1 people per household
• 92% no children at home
• 71% couples or living alone
• A projected 24% of total new housing demand over next decade (again, like yesterday’s Missive, for the Brisbane outer suburbs)

Brief description

As their title suggests, many want to move into something smaller and, if possible, in their existing neighbourhood.

Housing considerations

• Low maintenance
• Convenience
• Like-minded residents
• Small scale projects and/or in the more…
• Secluded areas within a housing estate/neighbourhood

Preferred housing options:

• 10% to 20% – spacious apartments (inner city)
• 30% to 40% – townhouses/duplexes and similar multi-housing products (middle-ring suburbs)
• 30% to 40% – detached-based homes (mostly outer suburbs)

What most buy? 

• Quality build and finish
• Well-priced – value for money – usual rule of thumb is that they need at least a 20% ‘jingle’ in their pocket between the sale of their existing home and the price of their downsized abode
• Privacy and security
• Parking and storage
• Space for visitors and grandchildren

Something to think about

Also, many downsizers are now looking for a home that is capable of taking in a tenant/s to help them live a more fruitful retirement – additional income and/or ability to travel and have someone ‘looking after’ their home whilst away. 

Dual+ occupancy homes – two or more separated residences (yet, often under one roof) on one title – have increasing appeal.

This caters for not only tenants, but the extended family and in time, the potential need to have a carer live onsite.

Such a dwelling arrangement has increasing appeal to an investor on future resale – more rent/yield based decision –   as well as an owner-resident, given the likely trends outlined a few weeks ago.

BoxBrownie.com video

A picture is worth a thousand words – more so if the picture is a great one.

Better still is having the right furniture in the shot.

And even better than that is a floor plan.

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