Baby
Boomers will greatly influence the direction builders take in new developments
in the coming years. As Baby Boomers begin to retire with the younger
generations' reluctance to buy homes due to the market turmoil, they will be
the driving market. Boomers will be looking to downsize and for less
maintenance responsibility similar to that of condo living. What does this mean
for Homeowners Associations? It means
newer developments will likely be more dense with more amenities while aging
associations must, if they haven't already, improve their long-term planning.
This is essential when repairs are needed in these properties largely inhabited
by the elderly so the community can afford to make necessary repairs and any
needed reasonable accommodations required by The American with Disabilities
Act. It also means that managers and board members will need to become greater
experts with facilities management and the increased amenities. Baby Boomers
will be able bring some of this expertise to the table as Board Members. We can
look forward to this benefit and changing trends in developments in the coming
years as the Baby Boomers begin reaching retirement age.
The Management Group
Property and HOA Management in Vancouver WA and Portland OR
http://www.TMGnorthwest.com
Property and HOA Management in Vancouver WA and Portland OR
http://www.TMGnorthwest.com
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