Taken from the weekly newsletter at Realtor®.org

They can select a home in an independent living community, an active adult community with or without age restrictions or communities that offer continuing care options – as well as all the traditional options available to buyers of all ages. Some may choose to migrate downtown to enjoy the city life for their golden years, while others will want to settle in the suburbs near their families.

While downsizing might immediately come to mind, the truth is some actually desire more space. Another survey conducted by VibrantNation.com found that nearly two-thirds of the female boomers surveyed had one or more of their adult children return home to live, and nearly half of those adult children have brought one or more of their own children with them as well. In addition, 13 percent of boomer women surveyed are living with their parents or in-laws, indicating that downsizing may not be on their agenda. These aren’t the empty nesters of the past, meaning the opportunities to tap into their market have increased tenfold.

There are still plenty looking for smaller homes, and on the whole, homes are generally getting smaller. The U.S. Census recently found the average square footage of a single-family home dropped from 2,541 square feet in 2007 to 2,343 square feet at the end of 2008. A January survey by the National Association of Home Builders (NAHB) found 88 percent of its members plan to build smaller homes this year. Experts report that what’s on the mind of boomers is well thought-out floor plans that maximize space and are low-maintenance.

Boomers are more active today than in the past, but the preferred activities might not include cleaning a large house or doing yard work. Findings from the 2010 Baby Boomer Survey by Del Webb indicate that many are seeking new activities, and 40 percent of both younger and older boomers have taken up a new hobby or activity in the last few years.

New homeowners focus on finding a place that will fit a growing family or other changing needs; this is no different than working with seniors. “You get involved in peoples’ lives on a different level,” says Lisa A. Thompson with Century 21 S.G.R. Depending on your client’s age, Thompson notes it is important to find a place that caters to a client’s changing health care needs. Many of her senior clients list proximity to health care – particularly their preferred hospital or other health care provider – as an important factor in the decision-making process.

Fifty-five percent of respondents to a 2009 survey by NAHB and the MetLife Mature Market Institute say a home’s proximity to a hospital or doctor’s office is somewhat to very important. In response, builders have considered these needs when building their senior communities.