July 02, 2019
Trends come and trends go, but you don’t have to let the latest real estate trends pass you by or keep you from moving to where you want to be! In fact, you may discover that these trends make so much sense and can help you realize your fond dreams of living your most comfortable existence.
You’ve probably run into a story or two about low inventory in the current real estate market. It isn’t just Essex County – it’s an issue all over the country. Innovative boomers and their children, sometimes referred to as boomerangs because they return home to live with parents after college, have found a way to overcome. Now that homeowners 55 and over are showing less enthusiasm about downsizing or moving away to traditionally retirement areas, millennials, outpacing the population numbers of the boomer generation, dealing with unusual high debt and low employment opportunities, have had to get creative about living situations.
Not to be confused with multi-family housing units, the new multi-generational homes are fast becoming a win-win for every generation. Older parents, desiring to remain in their own home but beginning to require some minimal assistance to do so and their kids or grandkids even, faced with inventory shortages in real estate, are finding answers. Either through remodeling of an existing home or working together to purchase a home suitable for larger families, they are creating multi-generational family units that work for everyone!
If you are a baby boomer who is not sure whether you should sell, stay or move to a warmer climate or a millennial seeking solutions to the tight market conditions, your local marketing specialist can help you evaluate your options today!