In 2004, approximately 35% of all homes sold were a 'second home purchase.  Baby boomers made up the majority of buyers for this growing market trend. Boomers have both the means and the motivation to take advantage of the attractive baby boomers real estate housing market.  They represent a high percentage of the population.

Boomers born between the years 1946 and 1964, and are now aged 41 to 59, definitely have the means to make a second home purchase. They are in their peak earning years and many are also equity-rich, with homes that have appreciated significantly over time.  Many are in a prime position to make a second home purchase, and sometimes even a third home. Today’s environment is attractive to a baby boomers real estate purchase.

Baby boomers have the motivation to buy for a vacation, investment, and other reasons. With many planning to retire in a few years a second home purchase that can serve as a short term vacation residence and a future retirement home can be a wise investment.  Some boomers may intend to work for several more years, but are seeking an appealing recreational and relaxing residence in the meantime for their children and grandchildren to enjoy holiday weekends, vacations and special occassions.

One option for a baby boomers real estate investment is to purchase a vacation property that they can enjoy in the off-season and rent out during peak vacation months.  Ultimately with the goal of covering expenses while the property appreciates. They may share their second home purchase with other family members in order to accomplish this objective. Builders and Realtors, such as myself, have created specialties in order to handle rentals and absentee ownership details for such buyers.

Baby Boomers real estate investments trend toward Sunbelt areas or resort settings.  South Florida and Fort Lauderdale provide for both along with wonderful entertainment and nearby attractions.

In addition to recreation, boomers can make a second home purchase for other reasons.  A boomer couple may still have one spouse in the work force while the other is already retired.  A baby boomer real estate investment, in this case, may result in a beautiful and relaxing home in the Fort Lauderdale area in one of our many waterfront or beach communities while maintaining a home in the Broward County metropolitan area.  Many a baby boomer real estate investment of a second home purchase revolves around events, such as weekend lodging for visiting alumni to sporting events or a temporary home for their undergraduate children.  The Fort Lauderdale area boasts many institutions of higher learning that this option may provide the perfect solution.

Of course, a second home purchase could be used as a traditional rental property investment.  South Florida provides a great opportunity for baby boomers to take advantage of the areas real estate property value.

Baby boomers of today differ dramatically from their previous generation in their behavior and what influences their propensity for making a second home purchase and what kinds of homes they are buying:
Today's boomer are much better-educated and extremely more comfortable with a large-scale purchase such as real estate.  They are investment-conscious, are require that their retirement years exceed the comfort level of their parents.  Today's boomers have a much younger self-perception of themselves.  What was 45 for our parents, today is 60.

They are more active and prefer to be reside in inter-generational communities. An abundance of recreational options is now a requirement.  Fort Lauderdale's boomer enjoy all kinds of activities from fly-fishing and hiking to golf and skiing. Today's boomers are much healthier and live longer.  The Home of today's boomer is a statement more of who they are.  A more individualized, less cookie-cutter individual, who require that choice of design and amenities reflect who they are.

All of these factors help explain why baby boomers real estate investments are such a driving force behind the housing boom in general and the second home purchase market in particular.  Considering that about two-thirds of the nation’s housing inventory was built before 1980, it explains why many boomers are ready for a change in their retirement lifestyle.  Their vacation homes may even be larger, newer, and more expensive than their primary residences.  Their second home purchase may, for some, be their ultimate dream home.