55-Plus Buyers Want Wellness Features And Loved Ones Nearby

Forbes

01-07-2025

Older adults want retirement homes that enhance well-being with features that support daily ... More movement.
The modern 55 and older homebuyer isn't looking to sit all day on a recliner pondering our end of life options. Longer lifespans, greater health, increased affluence and current sensibilities about aging are transforming the neighborhoods designed for late Boomers and Gen X homebuyers.
'We know the story: the 55-and-older population will grow by 12 million between 2025 and 2033,' notes managing principal of John Burns Research and Consulting firm Ken Perlman in a June 4 insights report. 'These aren't your grandparents' active adult buyers. They are healthy, wealthy, and tech-savvy.' According to Perlman, these are what this homebuyer is seeking. Does it align with your preferences if you fit into this age group?
Family Imperatives
'For 55 plus consumers who plan to move, proximity to family and friends is the top factor influencing location,' Perlman reports in his summary. Those moving to be closer to adult children and grandchildren have a nickname and a trend: 'Baby chasers.' I have several friends in my own Baby Boomer social circle who have done this or are contemplating it in the next two years. The pandemic drove home the value of being close to relatives, especially for those families that need help with eldercare or childcare.
Real estate publisher and research firm Zonda* has a Baby Chaser Index, which shows that 25% of Boomer households plan to retire near their children and grandchildren. 'As Millennials seek to establish roots and grow their families, they are gravitating toward markets that offer a blend of affordability, job opportunities and lifestyle amenities,' says Ali Wolf, Zonda's chief economist. (One of my Boomer friends is looking at Austin to be near her son and granddaughter. A family member moved an hour away to live close to her sister and daughter a few years ago.) Austin, Charleston, Jacksonville, Dallas and Raleigh were the top five Baby Chaser destinations on the Index. Burns' New Home Trends Institute found that 45% of 55 and older consumers live within half an hour of their grandchildren, and 25% spend time with them each week.
Friend Circles
Friend circles are also impacting where older adults choose to move, particularly for singles like myself without children. Co-housing and co-living ('Golden Girls' style) is one option some are seeking, with numerous advantages for those choosing one of them.
'The number one benefit, which greatly affected the Golden Girls' mental and physical wellness, is the social aspect of shared housing,' Maria Carpiac (nee Claver), director of California State University Long Beach's Gerontology program, told me for a July 2022 Forbes.com article. Carpiac teaches a course called Women & Aging: Lessons from the Golden Girls.
'More than any other lifestyle factor (including smoking, diet and exercise), we know that having social support is the most important predictor of morbidity (or illness) and mortality,' she shared in that article. A quarter of older Americans live alone, she reported, contributing to an epidemic of loneliness. 'Loneliness increases the risk of mortality by 45%.'
Some single individuals in this age group, myself included, don't want housemates, roommates or the characteristics of co-housing communities, but seek a welcoming community where we can live independently, still close to friends and caring neighbors.
New Home Preferences
According to Perlman, new home developers are looking closely at what our 55-plus generations want. Given that we represent 30% of today's population and those of us born before 1970 now control 73% of total U.S. net worth, (according to John Burns Research and Consulting's Bureau of Labor Statistics tabulations), our preferences are being taken seriously:
Not mentioned in the Burns study is a trend toward homes with greater accessibility – often called 'aging in place.' These often include single level living or first floor primary suites, elevators for two or three story homes and townhouses, barrier-free entries and showers, roll-out trays and pull-down accessories in cabinets and other features that promote independent living for adults of all ages and abilities.
Homes with universal design features (which also support household members and visitors who may have physical challenges), smart home technology that enhances safety and convenience, as well as social engagement and support systems, including access to telehealth, are all trending, according to SeniorLiving.com, a resource site for individuals and senior living communities.
Conclusion
'The new 55 plus consumers are seeking a community that gives them a sense of purpose, promotes healthy living, and offers services and amenities without the burden of high maintenance or isolation. The best age-qualified / active adult communities will blend a variety of housing products from 'forever homes' to low upkeep, attainable luxury in locations that are proximate to friends and families,' Perlman suggests. Is this what you're seeking too? After a long search, I found my 'forever home' in an all-ages community with numerous wellness features, including walkability to friends, shops and services.
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*I'm a contributor to Zonda's Multi-Housing News digital publication.