A Downsize for Baby Boomers
A Downsize for Baby Boomers
While the spotlight for small homes tends to revolve around the younger generation and potential for money saving, it seems as though smaller spaces may have a new buyer in town. In a recent report by Royal LePage, it was found that the baby boomers looking to downsize could just be be the cause of a new boom in home buying.
The report found that nearly half of BC’s population of baby boomers would consider downsizing, with 17% planning to buy a new home within the next 5 years. This trend could have a two-sided advantage – with so many boomers looking to downsize, we could see a market full of larger family homes perfect for the next generation of parents.
Baby boomers are commonly accepted to be the generation that was born after World War II, meaning most of the demographic is now over 50, many with adult children. As smaller homes become more fashionable, and the nest empties, it seems this generation is ready to look at changes in the type of lifestyle they lead. A four bedroom house may feel too large for a couple with grown children, and the burgeoning condo scene may have the answer.
Whether you’re looking for a 2 bedroom condo or a 5 bedroom family home, it seems that things are about to look up for you! Make sure to follow me on Facebook and Instagram for a first look at listings, and you might just find exactly what you’re looking for!
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