Survey: more single female baby boomers buying new homes
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The growing trend of single female homebuyers is likely to continue, as reflected in the recent Del Webb Baby Boomer Survey, which revealed that 28 percent of single female baby boomers anticipate they will have a change in their housing needs within the next five years.
Being single isn't stopping female baby boomers from investing in their dream homes, as witnessed in 50 Del Webb communities across the country. Since 2012, Del Webb buyer profiles indicate the percentage of single female homebuyers has steadily increased, now representing one-in-five Del Webb buyers.
"The single female baby boomer demographic has emerged as a growing source of demand in the new homebuyer market. This is a group of women that is confident, financially savvy and ready to make long-term financial commitments," said Lindsay Motley, regional vice president of sales for PulteGroup, Inc., the parent company of Del Webb. "With single female boomers now numbering approximately 25 million, this growing population represents a tremendous opportunity for our Del Webb communities."
Motley adds that while 28 percent of single female baby boomers anticipate they will have a change in their housing needs within the next five years, more than half (60 percent) of those plan to make the move to smaller housing accommodations, they aren't willing to give up on dream home features. The Del Webb Baby Boomer survey was an online study of 1,020 single female U.S. adults ages 50-68, conducted by Harris Poll on behalf of Del Webb in December 2014.
"Boomers may be downsizing, but they have worked hard over their careers and don't want to compromise on high-end features, such as granite countertops, upgraded appliances, sunrooms and luxurious baths," Motley said.
What's next for single homebuyers?
While some single female baby boomers may be looking to downsize, it may not be by a lot. The average size of a Del Webb home today is 1,893 square feet. The Del Webb Baby Boomer Survey showed that among those planning to move, 50 percent prefer their next home to be a single family home or a condo (19 percent), apartment (19 percent), or townhome (9 percent). They are nearly equally split between preferring their dream home and wanting to live close to family and friends.
The beach life is not for them.
According to the survey, three-quarters (74 percent) of single female boomers are planning to stay in the same city or state when they retire. And while the white sands and ocean views may sound like a great place to retire, only 12 percent prefer to move to a beach town. Most single female boomers also prefer to live in the suburbs (29 percent), a small town (24 percent), or an urban, metropolitan city (18 percent).
More than half (55 percent) of Del Webb Baby Boomer Survey respondents also indicated that community amenities are at least somewhat important when deciding on a new community.
"This research complements what we've heard from our recent single female homebuyers. In addition to choosing Del Webb because of the home designs, they choose our communities because of the access to amenities, including social clubs, physical activities like group sports and fitness centers, and mental activities, such as engaging classes and life-long learning opportunities," said Motley.
More than one-third (36 percent) of single female boomers lead lifestyles that are as active and healthy as they did at half their age (35 years old). More than half of health-conscious single female baby boomers cite fitness centers, trails and swimming pools as important community amenities, consistent with the 68 percent who rank a healthy lifestyle as their top priority.