Curb Your Enthusiasm- The New Golden Age

For many senior adults downsizing from a primary home to an independant living complex is an exciting beginning to the Golden Years.  Trending in the market I serve are Baby Boomers with oversized homes that are now empty nests.  Many of the recent conversations of my peers have revolved around where and how to downsize.  The options have been limited and very expensive.  This situation is beginning to shift.   As Baby Boomers begin to age there is a growing trend of seniors who are healthy, wealthy and energetic seeking carefree lifestyles of ease and luxury.  They are seeking curb appeal in sleek modern luxury buildings in urban locations vs.  the large suburban mcmansions.  

With freedom from home ownership responsibility , many older boomers tend to move to smaller spaces of either condo or apartment style living.  click here for Boomers . In the past, the common trend had been  warmer climates where land was less expensive.  As baby boomers age many have greater wealth than their predecessors and are opting to remain close to family and roots.  The demand for higher end senior living spaces is growing in urban areas.  This population wants to continue the lifestyles they have embraced throughout their working years.  

Boomers are seeking properties with luxury amenities and services.  For an example of one such option, explore Waterstone at the Circle by Epoch in Cleveland Circle.  This luxurious building, opening in January 2018 is located on the Brookline/Brighton line where the Circle Movie Theater had been for over 50 years.  The complex is composed of rental units beginning at $7000 plus per month and will offer  walk-in closets, full kitchens, spacious layouts, several common areas, concierge services, chauffeured car service, two restaurants and an on-site movie theatre ( Incidentally as a child I used to frequent this theater and saw The Sound of Music and Mary Poppins when they first opened around 1964).  This is a great place for fully independant post baby boomers.  

Alternatively if someone prefers suburbia,  One Wingate Way in Needham offers complete luxury independant living.  A great benefit to Wingate is its continuing care retirement community.  One Wingate Way shares land with The Residence at Wingate which offers Assisted and Memory Care as well as Skilled Nursing and Rehabilation services.  Likewise, more and more such complexes are being built in both the suburbs and urban areas around the country.  

As a babyboomer and SRES this is an exciting time for me as a real estate agent.  I enjoy working with an older client base and am actively engaged in studying the local market.  I am able to share my expertise with my peers as we continue our empty nest conversations.  The options particularly in the rental market for this demographic had been somewhat limited around the Greater Boston area and this is beginning to change.     

Property developers and market research studies have shown that Baby Boomers will be the next large "Millenial Market" as they age from single home ownership to alternative living options.   The average age of residents looking at Waterstone is 82 years young.  Senior living options are being Redesigned and rethought.   This new selection of living spaces will create new opportunities for growth in the housing market. As more options become available for empty-nesters there will be more homes on the market from which they came.  

As an SRES real estate agent I can help manage this transition process by helping to identify potential living options for those thinking about downsizing.  I am eager to work with these clients and families to prepare their homes for the real estate market.  If you know anyone who is considering a move feel free to reach out to me at www.wendybcb.com.