30% of home buyers in 2015 were between the ages of 49-67. Even more so than the younger generation of buyers, this group depends on their wish list a whole lot.
A lot of owners that age hope to live near the center of their city or town and want to be a part of that community. That is their basic want and the most universal because they value the first impression of a community and feeling welcome.
The convenience of shopping, eating and other family affairs are what to look for when searching for a client's home who falls in this home range. It's also very important to have a home to show them that they won't have to put too much or any work in the maintenance.
The top three influences for them are the area and location, which 50 percent of buyers will make their decision based off, price affects 37% of the older generations decisions and the layout of the house, that affects about 20% of their choices. This makes sense, considering the fact that most people this age are completely settled down and won't want to have to commute very long. So look for places that are in a central location to the area of their choice, located by shops, restaurants and maybe even their job or schools. Being near to a hospital or a medical center also makes a difference.
Just like the millennials, there are a bunch of certain amenities that stand out to this age group that you should be looking for in the specific homes you want to show a client of this age. An open floor plan with high ceilings is high up on that list. Other variables they look for are:
- Natural light and how much it comes into their house (they want a lot)
- A lot of storage space
- Decent energy costs and efficiency
- Plants and things of that nature outdoors for scenery
Studies have also illustrated what causes this generation to want to move in the first place. Quality of the home, dislike of their current area or neighborhood and a better floor plan are at the top of that list.
If you know the reason they moved out, it will be easy to build your relationship with them and make it easier to quickly find something they like better.
The kitchen is by far the most important room in the house. Over 80% of people in this group stressed it more than any other room. Master bedroom and then the living room were the next two most thought of rooms.
It doesn't come much as a surprise, but unlike the 30 and under age group, this group does not have that big of a concern for the technology that the house offers. Some might even say not to offer or show them "smart houses" and houses like that. People over 55 or 60 may not be willing to get integrated with a house like that and be forced to learn everything that comes with it.
What also differs is community amenities. 65% think it's important to be a part of a community that has facilities they can use. A pool, gym, community center or even a golf course are things this age group values.
So take these stats into great consideration when you are searching for a client's home who is 55 or older. Showing them things that fall in line with these ideas will lead you and your client to find a place in no time.
Joe Nickelson is a real estate professional dedicated to helping home buyers and sellers achieve their dreams of owning property, and helping real estate agents stop using the sometimes-vicious tactics that weigh on their consciences. He believes that the Smart Agents books will, quite literally, change people’s lives for the better. Check out his full bio here!