More baby boomers are fleeing empty nests for smaller homes accommodating their lifestyle needs and are becoming key players in an active economy as consumers and home buyers.
Above all, most older buyers are looking for single-story layouts with efficient use of space and walkable proximity to local services and businesses, according to Forbes Business Council.
Over time, they worked hard, bought houses, had children and sent them to university. Now, their children have their own homes and their own families to take care of. Today, many boomers find themselves free of dependents, meaning that they can focus on themselves once again.
This is a generation that is entering its “golden years.” Their main concern now is to have the best possible quality of life, and they now also have the purchasing power to do so. While a large part of their spending goes into day-to-day life such as medical care and mortgages, they are also spending increasingly on life experiences planned and designed for them.
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