Boomer 'Elites' Will Pay a Premium for Homes
Question: Of course, we’ve all heard the term “Baby Boomers” but I recently heard the term “Boomer Elites”. What is that?
Answer: Good question! Baby boomers are touted as being the wealthiest generation in
Home ownership is important for this financially savvy group, which Focalyst dubs “Boomer Elites.” The study finds them well prepared for retirement; 95 percent (compared to 75 percent of all boomers) have some sort of savings or investments.
They consider their home as an investment, according to Heather Stern, director of marketing for Focalyst. The average home value for this group is $519,000 compared to $282,000 for boomers overall
Not only do almost all Boomer Elites own their own home, but they are more likely to own multiple homes. Approximately 21 percent of the Boomer Elites own at least two homes, and 7 percent said they plan to purchase an additional home. Among all boomers, only 8 percent own a second home and 2 percent plan to buy a second home
For answers to your real estate questions, call Allison at 970-468-6800 or 1-800-262-8442