What boomers want

Money Magazine Australia - - PROPERTY -

If you have a sub­di­vid­able prop­erty in an es­tab­lished area, con­sider re­de­vel­op­ing it to suit the de­sires of cashed-up baby boomers.

Aged 50 to 74, this group rep­re­sents a pro­jected 24% of to­tal new hous­ing de­mand in the next decade, says re­spected prop­erty an­a­lyst Michael Ma­tusik. And their top want is smaller dwellings lo­cated in their cur­rent neigh­bour­hood.

Their pref­er­ence is for low-main­te­nance, high-qual­ity, well-fin­ished homes that rep­re­sent value for money. “The usual rule of thumb is that they need at least a 20% ‘jin­gle’ in their pocket be­tween the sale of their ex­ist­ing home and the price of their down­sized abode,” says Ma­tusik.

Also many down­siz­ers are look­ing for a home ca­pa­ble of tak­ing in a ten­ant to pro­vide ad­di­tional in­come, plus some­one to look af­ter it while they travel.

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