When you think of the term “senior,” what comes to mind? Do you think of a specific age group? Do you have an image in your mind of what a “senior” would look like? Do you ever think about there being more than one type of “senior?”
A lot of times, we tend to use umbrella terms or statements to describe a certain person, or a certain age group, but forget that within that umbrella term, there are tons of unique individuals with their own wants and needs. The same can be said for the term “senior.”
Different types of “seniors”
As a Seniors Real Estate Specialist®, Sue knows that it’s not guaranteed that she’ll always be working with the same type of “senior.” She knows there are sub-categories and unique individuals that don’t fit into any sort of group, and because of this, approaches every relationship from a fresh perspective. Even so, there are a couple of general sub-categories that Sue finds it useful to keep in mind when helping her clients narrow down exactly what they’ll want in both a Realtor® and a home.
If you belong to this group (51-60 year age group), when making your next big housing decision you’re more likely to be interested in multi-generational homes to accommodate older teen or adult children, or aging parents that may need health or care assistance. Compared to older Boomers, your age group is more likely to make a job related move, you are still enjoying life in your prime.
If you are 61-69 years of age, you fall into the “older” boomer category. Unlike younger boomers, who may be shopping for a home to accommodate a larger family, older boomers are more focused on downsizing, and finding a forever home as they enter retirement. Since this age group doesn’t have to worry as much about moving based on the quality of a school district like their younger counterparts might, they are more likely to move greater distances, and are focused on the quality of the neighborhood they plan to move to, and the convenience of reaching family and friends.
The Silent Generation
The Silent Generation, those aged 70-90 years, typically make up the smallest share of home buyers by generation. If you are a member of this group, you may be well into retirement, and will most likely have a lower income compared to your younger counterparts. Members of your group are more likely to purchase a duplex or condominium, or seek out some form of senior housing, rather than a single family home. Your group may have health issues as you age, or have challenges maintaining a larger house, and will benefit from a community with easily accessible amenities and transportation. If this sounds like a good description of your group, you may be eager to downsize. Sue can help you understand your options for offering incentives to attract buyers, potentially making it easier and more likely that you’ll sell your home quickly and smoothly.
Recognizing that not every “senior” is the same is crucial in helping you transition from one home to another that more perfectly reflects your current needs. Keep in mind that as a Seniors Real Estate Specialist® Sue has plenty of materials, publications, and webinars to refer to in order to best serve you.
Sue’s commitment to understanding the preferences of each group of seniors is just one reason she has become the go to expert for senior based real estate in North San Diego County.