The time for the retirement for baby boomers is getting closer! This generation is not difficult to work with and will give double the business. With retirement these folks will be ready to sell their home for new families to create memories in. They will also be looking to down-size their home now that they don’t have family and employment obligations.
More than likely this generation has bought and sold many homes through the course of their life and so they are not new to the process which will be easier to conduct a transaction with than a first-time homebuyer.
This group has an uncertainty about finances and is more than likely wanting to work part-time even after they retire. They will be looking for a new place to call home in communities that offer culture as well as employment opportunities.
Often baby boomers are ignored by the real estate market, but here are some reasons why agents should not ignore this population:
According to the National Center for Health Statistics this group is further broken down into smaller categories called ‘leading-edge boomer’ – those aged 58 – 67 years old. This group constitutes 38,002,000 Americans.
This generation helps the real estate market thrive!