Affordability a major concern of baby boomers

Real Estate Watch

May 30, 1999

Baby boomers between the ages of 43 and 53 list price and affordability as their No. 1 concern as they prepare to become the next wave of homebuyers, according to a national survey by Professional Builder magazine.

As for features in the home, baby boomers listed energy efficiency as most important, with fireplaces, home offices and home entertainment centers also making the most-wanted list.

However, the survey, which interviewed 752 people, found that other preferences differ by regions in the country.

For example, 75.5 percent of baby boomers in the Northeast ranked location more important than price and affordability. By comparison, baby boomers in the South, West and North Central states listed price as their No. 1 concern.

"Aging baby boomers are fast becoming a force to be reckoned with in the housing market," said Susan Bady, senior editor at Professional Builder.

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