Baby boomers account for 31% of all homebuyers in 2024, according to the National Association of Realtors. So, while marketing to millennial and Gen Z homeowners is in right now (and for good reason), baby boomers still pack a potent punch. The home and building manufacturers that forget about them risk losing an audience that’s not only sizable but also has substantial buying power.

Many boomers have accumulated a great deal of equity in the housing market. But their needs are changing — and they’re on the hunt for brands they can trust to lead them through their next stage of life.

Take a look at the factors that are most important to this critical group of consumers.

Baby Boomers’ Evolving Home Preferences

Smaller Homes

Baby boomers who are also empty nesters own many of the homes that have three or more bedrooms in the United States. Some boomers choose to hold onto their homes due to emotional attachments or financial reasons, even when they no longer require the space.

However, many boomers are discovering they need less space as they age, especially after their children move out. This leads them to downsize. Some are opting for one-story living, driven by a desire to avoid stairs and accommodate potential mobility challenges in the future.

Low-Maintenance Living

Many recent buyers who purchased new homes report that they wanted to avoid renovations and problems with plumbing or electricity. Some were attracted to communities that offer maintenance services such as snow removal and yard care.

Social Networks and Family

According to the NAR’s 2024 Home Buyers and Sellers Generational Trends Report, baby boomers are purchasing homes primarily to be closer to friends and family after retirement and other life transitions. This makes location a key factor in their purchasing decisions. Additionally, these homebuyers value a strong community and the ability to maintain an active lifestyle as they age.

Age-Restricted Living

Age-restricted living communities often feature smaller lots and denser housing, with a mix of townhouses, condos and/or attached homes. This meets the demand for home accessibility while fulfilling boomers’ desires for community outside of the home.

The NAR found that 19% of all buyers over 60 moved to communities specifically designed for older adults. Nearly 60% bought single-family homes, while 12% bought townhouses and 5% purchased condos.

As the number of homes being built in age-restricted communities continues to climb, it’s important for home and building marketers to consider how they can connect with aging demographics to meet their desires.

How Home and Building Marketers Can Connect With Boomers

The Washington Post reports that in 2022, 59,000 homes were built in age-restricted communities for ages 55 and older or 62 and older, accounting for about 6% of all new homes built that year.

This growing trend screams opportunity for home and building manufacturers to connect with new developers. However, it also reveals opportunities to connect with consumers who need help navigating life changes in their home and community.

1. Focus on Accessibility

With a significant portion of boomers choosing to stay in their current home, there is a growing demand for home modifications that cater to this demographic. Products such as stairlifts, walk-in showers, grab bars and accessible cabinetry are becoming increasingly important. Smart-home technologies for safety and convenience are also viewed as a plus.

Effective marketing of these products to older homebuyers highlights:

• Independence

• Safety

• Self-reliance

• Comfort

• Convenience

2. Serve the Shift Toward Low-Maintenance Living

Baby boomers are increasingly drawn to homes that require less upkeep, as seen in the popularity of 55-plus communities that offer maintenance-free living. This trend highlights an opportunity for manufacturers to market products that minimize maintenance efforts, such as durable, weather-resistant materials, smart-home technologies that automate home care and energy-efficient appliances.

Because of the growing interest in downsizing to smaller homes that are easier to manage, manufacturers should focus on high-end finishes, efficient use of space and multifunctional products that add value in smaller spaces.

Emphasizing quality and convenience over quantity will resonate with this demographic​.