Submitted by: Real Estate Advisor
There is an interesting trend happening with the Baby Boomers. According to an article in the Christian Science Monitor by Marilyn Gardner, Boomers are moving to smaller living quarters and are increasingly prepared to pare down possessions in the process.
For those of you who need to know who these ‘Baby boomers’ are, they are the people who were born just after the World War II and are called so because of the boom in the number of babies during that period.
According to a study by FH Boom, a group that studies this generation, Boomers have an adventurous spirit. They love to travel and are known to prefer a lock and leave kind of housing. They are ready to move to smaller quarters much earlier in life, say 50 s while they are still working, when compared to their parents who often waited to the later part of their lives to do the same.
Baby Boomers are moving to favor housing such as condos, active adult communities and city apartments. According to the Over-50 Council of the National Association of Home Builders (NAHB), about 6 percent of people, between the age bracket of 55 and 64, move every year. The reasons usually vary from empty nests, to unexpected job offers, and early retirement plans. Whatever the reason for moving, Baby Boomers seem to do so with a fair amount of alacrity.
Most experts agree that for the Baby Boomer generation, it is easier to part with their belongings as they grew up during times when most of the things were disposable. Baby Boomers are more in tune with the changing times than their parents were, who were weighed down by precious possessions such heirlooms and large furniture. Therefore, Baby Boomers do not hesitate to shift to homes that offer less spacious living than they are used to.
Baby Boomers are more adaptable to change and are willing to make compromises in the process of downsizing their homes. Besides reducing their living spaces and giving up their long-term belongings that they have no use for anymore, Baby Boomers also have a flexible approach toward modifying their home space to make it more user-friendly, sometimes radically too.
Nevertheless, Baby Boomers seem to have limits to how much they can downsize their homes. According to one real estate broker, while the older generation preferred 900 to 1200 sq. feet, Baby Boomers want 1800 to 2400 sq. feet even after the nest has emptied.
A simpler lifestyle and the thrill of moving are some aspects that seem to counter any hard feelings that result while downsizing their quarters or reducing their possessions.
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Source:
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