Baby boomers, born between 1946 and 1964, form nearly a quarter of our population. They may be getting older but are still very active, making a huge impact on the U.S. economy. They work far longer than previous generations.

One of the areas of our economy on which their contribution is greatly felt is the housing industry. Baby boomers are not adhering to the traditional retirement patterns of their predecessors. They 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 can be prohibitive.  They want a change of lifestyle. Both groups are discerning buyers and know exactly what their needs are.  Developers are meeting this challenge head on and are constructing the homes to suit this second largest group of house buyers.

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

I am a boomer too; I have my finger on the pulse of our housing needs. I monitor new developments and trends in Chicagoland and offer the best possible real estate advice.

Speaking of new developments, there is a townhome development in the northwest suburb, Palatine. It’s called Newberry Lane and offers spacious units. I’d love to share more about this exciting opportunity with you, as well as answer any questions you may have about downsizing, or making a housing change.

Are you a boomer ready for a transition, or know one who is thinking about it? I would love to help you make the very best choices for this important life change. Let's talk soon.