The Sandwich Generation-What Kind of Homes To Buy

 

Younger Boomers, that is buyers whose age is 52 to 61 are often referred to as the Sandwich Generation. The reason is they often have children or grandchildren who move into the home as well as becoming caretakers for their aging parents.

The median age for this group is about 58 years old.

A traditional home often proves to be inadequate for this influx of people, who are different in age and interests.

The trend now is for the Sandwich Generation to look for the multi-generational home. In fact nearly 20% of this age group are most likely to buy the multi-generational house.

In my area, Southwest Florida, I talk with many builders and not many are producing this model. They may have a model that has a "mother-in-law" area, but that may not be sufficient for their needs.

The Sandwich Generation may not be able to select where they live or their preferred housing type, but make their selection out of necessity.

Younger boomers are the least likely to purchase in the suburbs (49%) and most likely to purchase in rural areas (13%).

Real estate agents would do well to get a better understanding of this generation and what their housing needs are. Many in this age group are still working and may need to continue to work well past the normal retirement age. 

I spend time meeting with builders trying to educate them on the changes that are already happening and making some effort to provide adequate housing that is beyond the standard home layout.

These younger boomers have a high median household income at $93,000. They purchase homes with a median price of $230,000. 

 

For the Baby Boomers who are moving to Southwest Florida you will want to work with an experienced agent that understands your needs. I am a Senior's Real Estate Specialist and I have a great team of resources to meet your needs.

Find out more about an SRES here: John Wiley Senior's Real Estate Specialist