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Location or Lifestyle?
November 7th, 2012 10:21 AM

It used to be that "location, location, location" was the key driver in real estate, but shifting demographics, new work-at-home options, and changing generations mean that new residential markets revolve more around "lifestyle, lifestyle, lifestyle."  Both retiring Baby Boomers and working-age families will be deciding how they want to live before they start thinking about where to buy.

In Florida, buyers will want to consider if it is more important to buy in a particular location or to enjoy a certain lifestyle, such as beach, waterfront, golf course or retirement community.  It is a definite change from buyers simply stating they want a 2,000 sq. ft. home. Some are just looking for a low-maintenance, highly social environment where they can walk everywhere and take advantage of community amenities. 

The shift from location to lifestyle is just one of the trends that will be shaping real estate markets in the next few years.  Other changes will include various and new housing designs, a potential decline in home ownership, and more diversified demographic areas.    Our country continues to have a population increase which will sustain long-term housing demand.  And the second-home market will benefit from retiring Baby Boomers, who will buy for vacation and retirement homes 

Buyers are right now looking for homes that match their lifestyles. It might be bicycle paths, a golf course, or lakes to fish and kayak.  It is important that they can enjoy their hobbies, pastimes, or recreational activities. With advancing technology, there is also a change in workstyles, with many able to work from home, needing larger and more efficient office areas in the home.  Everyone is also being more careful not to get in over their heads financially, so they are thinking practical rather than prestige.

There will be a lot of changes to the real estate market in the next few years, but for certain, the demand in Florida will continue as it always has.  We have a wealth of lifestyle choices and outdoor living will play a big role.  Location or lifestyle?   We are lucky to have both here in the sunshine state.

 

 


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Posted by Barbara Doeringer on November 7th, 2012 10:21 AMPost a Comment

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