Like many millennials, baby boomers are now flocking to rental properties and quickly becoming the fastest growing group of renters. Between 2009 and 2015 the number of renters ages 55 and over rose 28 percent compared to an increase of 3 percent for renters ages 34 and below. It's projected that more than 5 million baby boomers will rent their next home by 2020. Thus, developers are actively looking to lure these boomers to the market by offering a hands-off way of life a as growing number of boomers seek more flexibility and sociability in their lives.
With a little more disposable income than their millennial counterparts, many boomers are drawn to the luxury-style apartment or condominium living with concierge and house cleaning services. Therefore, many downtown areas are attracting these renters with a plethora of new buildings featuring these kinds of amenities. It's the ease and convenience of renting that's attracting many to sell and retire some place where they don't have to worry about the daily hassles of maintaining a house. Though these complexes are also a haven for many millennials, particularly those in the tech industry that can afford the pricey rent and may work from home and seek the amenities of a gym, yoga studio, concierge service, etc.
But this isn't the only place boomers are looking to rent. A good number of these new renters are also looking to downsize to a single-story condo in a more convenient location. They're selling their large, inland homes and heading towards the coast. Seeing that many of them are empty-nesters and don't need much space, they want a comfortable place to rent in a more social environment with a landlord that will take care of maintenance and upkeep so they can relax and enjoy the luxuries of coastal living.
With seven consecutive years of five-star status in Orange Coast Magazine, The Kurt Real Estate Group is among the elite. No matter where they’ve gone, they’ve set record sales. Whether you’re a buyer, seller, or investor, Kurt and his team work diligently, honestly, and with the utmost professionalism and are passionate about helping you achieve your real estate goals.
Kurt is ranked among the top two percent of Coldwell Banker agents nationwide. Kurt’s experience investing in and flipping homes and his connections with the Hollywood Film Industry give him an unparalleled edge and keen insight into market trends. The opportunity presented to you in working with Kurt is why The Kurt Real Estate Group is recognized as one of the top real estate teams in Orange County.
With the average California home price at its highest point this year,
"Liz helped us recently with the purchase of a new house and the sale of our old one. She was exceptional throughout both transactions, always on top of things, clearly communicating progress, providing expert advice and support when needed. Liz has a very high real estate IQ and her unique approach to buy/sell strategy delivered results for us that far exceeded expectations. She also made
a potentially painful process, not only easy, but actually fun! We will definitely work with her again.