Downsizing Seniors Upgrade Homes

 

Boomers making their next home their best home.

 

HONOLULU ADVERTISER   October 21, 2007

 

BY LISA SCONTRAS

 

Custom Publishing Group

 

Goodbye yard work; hello luxury. Today’s empty nesters are downsizing — but that doesn’t mean downgrading.

While some seniors are trading in their lawn mowers to be closer to their grandchildren, others are seeking out more comfort, more convenience and more amenities.

 

“It seems like the more traditional retirement type communities attract those in their 70s and 80s,” says Beth Makanani, Realtor at Prudential Locations LLC. “But there are many 55- plus seniors who are still buying their dream homes.”

 

Regardless of how you define “downsizing,” many seniors are making their next home their best home, she says.

 

A National Association of Home Builder's study of builders and developers reveals that three-quarters of buyers aged 50 and up are searching for a home that provides yard or grounds service and exterior maintenance to allow them more time to enjoy their retirement years.

 

“The study results affirm that baby boomers and older home buyers want a low-maintenance lifestyle, freeing them up to travel, socialize and enjoy life,” says Kent Conine, president of the NAHB.

 

In Hawaii, Makanani says buyers are looking for a home that better suits their changing needs and that one of the biggest trends is buying a home without stairs.

 

“Some are moving from larger to smaller homes, most are looking for single-level, and many are moving up to fancier homes — newer or on a golf course — with no yard maintenance.” Makanani explains. “The secured- gated senior communities are popular as are the more luxurious resort-type properties.”

 

In many markets throughout the country, boomers and seniors are no longer interested — or capable — in maintaining a full-sized home and are opting to move into newer dwellings with low upkeep, security and amenities, such as exercise rooms, swimming pools and jogging/ walking paths. After years of raising families, empty nesters have found that reducing the square footage allows them to move up in quality and they’re trading in their extra bedrooms for extra comfort and livability — giving them more bang for the buck.

 

For those who are less mobile or who want more energy, proximity to downtown or public transportation and stores are as important as the social aspect of the neighborhood. Locally, many have chosen to migrate from the neighborhoods to the new downtown, concierge-tended, spa provided, everything is within walking distance modern hi-rises.

 

Convenience is a major plus for senior buyers. More than three-quarters of the builders surveyed by NAHB built age 50-plus communities in close proximity to shopping centers, churches and medical facilities.

 

Makanani contends this is a trend that will be around for a long time.

 

“As more senior communities become available and are built, more people take advantage of them.” she says.

 

And just because they are in the plus-50 crowd doesn’t mean that they want to scrimp on style. Interior features that are popular among this demographic include granite countertops, stainless steel appliances, wood laminate flooring, central air conditioning, and high-speed Internet.

 

Whether you call it downsizing or call it upgrading, many seniors are leaving their lawn mowers, rakes and garden hoses behind for more leisurely lifestyles. But regardless of the size of the home or whether it’s old or new, filling the empty nest with luxuries is a great way to make the golden years as good as gold.

 

 

 

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