Smart-Sizing Boomers Are the Next Homebuyer Opportunity

Move-up, downsizing, how about “smart sizing?”

The Washington Post reports on a trend where retirees who sold their big house want less but a little extra room than what they get by downsizing to an apartment, condo, or smaller house.

“Older home buyers today are ‘smart-sizing’ rather than just downsizing,” says Mollie Carmichael, a principal with Meyers Research, a housing research firm in Costa Mesa, Calif. “Affordability is a big priority before and during retirement, so people think they need to downsize for financial security, but that’s not always true.”

 Mark Ash, national director of design at PulteGroup, said consumer research helped it develop 13 GenYou floor plans ranging from 1,400 to 3,000 square feet. The GenYou floor plans, available at the Del Webb Nocatee active-adult community in Ponte Vedra, Fla., and Del Webb eTown in Jacksonville, Fla., will eventually be introduced at Del Webb communities nationwide.

“These new floor plans cater to all sorts of buyers, including those who want to downsize, right-size and upsize,” Ash says. “They’re all single-family homes designed with large sliding-glass doors that link to a covered patio, which addresses the need for more living space. And these designs have the flexibility to accommodate families with aging parents or boomerang adults living with them.”

Read More