A Downsize for Baby Boomers

A Downsize for Baby Boomers

Aug 17, 2018 | Local, Real Estate

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!

Additional Reading

More Housing is Coming

More Housing is Coming

It’s no secret that the province of British Columbia has been struggling in the affordable housing department for some time now. In its latest action plan, the provincial government is looking to shift the narrative and deliver more affordable housing to British...

Back In The Valley

Back In The Valley

While plenty of real estate markets have experienced highs and lows going into and coming out of the pandemic, the Okanagan continues to maintain a unique standing. Unlike many Canadian real estate markets, the Okanagan (and Kelowna in particular) was on a steady...

Welcoming the New

Welcoming the New

The Okanagan - Canada’s best-kept secret for decades - has been on the map for a few years now thanks to our incredible lifestyle, weather, and real estate opportunities to name a few. With Canadians shifting their priorities throughout the pandemic lockdowns, seeking...

250-470-0377