One demographic that consistently buys houses is those over 60. On the cusp of being senior citizens, this demographic can be hard to pin down because of the range of needs it can have. Some people are in great health far beyond year 60, and some need to take it a little easier. While the perfect house for every buyer over 60 depends on their needs, there are some general trends that almost all of them are looking for.
Smaller Total Size
One of the biggest differences in this home buying market is how small the homes are. Buyers in this age bracket tend to want a home that makes good use of its space. A lot of square footage means a lot of upkeep that they may not be willing to put in. A smaller home, either in a condo or as a smaller standalone property, with a smaller yard (that will require less maintenance) are what they’re looking for now.
Higher Luxury and Quality
They might want a smaller house, but they don’t want to skimp on any part of it. If they’re looking to buy only one more home, they want to have the best of everything in it. If you want to refurbish your home to sell to an older crowd, make sure that everything is high quality. Granite countertops and new, functioning appliances carry a lot of weight with this demographic. Buyers in this age range are also more willing to pay to upgrade things around their house. Small it might be, but it should aim to be the height of luxury.
Close to Amenities
Whether it’s close to their medical facilities, the neighborhood grocery, or fun parks and museums, this age bracket is concerned with ease of accessing life outside of their home. Small places closer to downtown are very popular. This factor is also influenced by the relationships between the buyers and their families. A suburban house very close to their children or grandchildren would be favored over an urban condo farther from whom they want to spend time with.
Walkable Neighborhoods
Walkable neighborhoods provide a great way to get exercise, combined with an ease of living. When a neighborhood requires a car to get around easily, that puts a much shorter time limit to how long they can reasonably live there without assistance. Many older people want to live with independence for as long as possible. If they can walk a couple of blocks to the basics of their lives it means that they can stay fit and stay independent longer.
Room for What They Value Most
Buyers don’t want to give up what they love at this stage of their life. This can lead them to run counter to the previously listed trends. If they love dogs and don’t intend to live without one, it becomes more important to have a yard than to be close to the urban center of Atlanta. If they want a room for their art studio, that desire is going to trump the urge to get a very small, luxurious place.
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