Baby boomers, born between 1946 and 1964, form nearly a quarter of our population. They may be getting older, but remain very active, and make a huge impact on the U.S. economy. Working longer in their lives than generations past, are not adhering to the traditional retirement patterns of their predecessors.

Wanting a change in lifestyle, boomers are divided into two groups when it comes to their housing needs, either wanting more space, or looking to downsize. Many want to renovate existing homes, but realize that the cost is prohibitive.  Both groups are discerning buyers and know exactly what their needs are.  Developers are doing their best to meet this challenge head on and are starting to construct smaller homes with amenities that suit those wishing to down-size.

The fact that boomers work past the age of 65 often means that they are working from home. They expect their homes to have an office, and need it to have more technical characteristics such as wireless home networks, remote lights etc. That said, they also prefer low maintenance homes and flexible living spaces. In anticipation of future needs, for instance the need of wheelchair assistance, they expect wider doors and hallways and single- story buildings with bigger bedrooms.

I keep my finger on the pulse of boomer housing demands and new developments and trends in the Chicagoland suburbs.  Speaking of new developments, there is a new town house development right here in nearby Palatine. It’s called Newberry Lane and will offer 16 spacious units, many with first-level master suites.

Contact me for more details about this development, or answers to any questions you may have about downsizing or making a housing change. I am here to help you make the very best decisions for the place you call home.