Help Boomers Make Their Next Move Now that a huge wave of baby boomers has left the workforce—30 million at the height of the pandemic—many are considering where and how to live. By Barbara Ballinger As they retire from the workforce, some baby boomers are looking to relocate to maintenance-free homes or condos. Or they want to be near their children or grandchildren in what has been termed “baby chasing.” Others want to head to a warmer climate full- or parttime, often choosing active-aging communities where they can pare maintenance, enjoy activities, and meet new people.
But having more options can make the decision tough. No single choice fits every boomer’s interest, budget, and health situation, particularly since their ages range from 57 to 75 years old, said Chicago-based commercial interior designer Mary Cook of Mary Cook Associates. She has found four factors influence their decision: finances, family circumstances, home, and community or neighborhood.
However, most baby boomers want to age in place. This may require changes to their home to live more conveniently and safely as health challenges arise.
“If they’re the primary caregivers or helping with grandchildren or single parents, they may be tethered to family and a location. Sometimes their decision, if budget permits, will mean a second location for the winter or summer,” Cook said.
Many residential design options emerging today reflect trends seen in the luxury hospitality industry, like country clubs and spas, said architect Rocky Berg, whose Dallas-based boutique design firm, three, works in the hospitality, residential, and senior living segments. “Boomers are all about having choices,” Berg said. “They’re accustomed to having what they want when they want it.” 14 | Salt Lake Realtor ® | March 2022
While the 65-or-older segment now represents an important 15% of the population, it’s been described as being on the verge of becoming a “silver tsunami,” with numbers growing beyond 20% by 2050. Here are some options your boomer clients may want to consider as they weigh their next move.
