55+ Buyer Survey Results

October 13, 2014

Here is a partial summary of the webinar we just did on 55+ buyers. More than 100 people followed up by requesting copies of the presentation. 55+ households are:

  • 52% of current homeowners
  • 43% of current households
  • 26% of all home buying activity (even though only 3% of them buy a home each year)

Those we surveyed (all had registered with a builder, developer, or Zillow so the survey represents those interested in moving) told us the following:

  • 54% said they are not moving today because they can’t find what they are looking for.
  • 64% said they are considering buying outside the area where they currently live, and 53% said they are considering staying in their home—so most need some convincing to move.
  • 51% said proximity to grandchildren is a key motivator.
  • 28% said they are considering owning 2 homes.
  • 43% prefer an inner suburb (15–30 minutes from City Core) versus the City Core or a more outlying area.
  • 8–11% want attached but 20–25% will consider it.
  • 49% want a smaller home, 34% want the same size, and 27% want larger.
  • 63% have pets and 22% say they treat them like royalty.

The Boomers reported some interesting trends:

  • 41% will accommodate an 18+ year old child.
  • 33% are considering accommodating their parent.
  • 23% want age-restricted.
  • 44% want age-targeted or restricted, compared to 61% of the Silent Generation.
  • 77% want single-story.

The webinar covers much more, including:

  • Top ten trends
  • Design preferences
  • Style preferences

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