Baby Boomers Downsizing Homes, Upgrading Options

DENVER (CBS4)- Baby boomers are downsizing their homes but upgrading their living space.

Those born between 1946 - 1964 are baby boomers. That group represents 26 percent of the U.S. population. They also make up nearly half the workforce and hold the most discretionary income of any other age group.

The baby boomer generation has made it clear they are not ready to retire. For that reason home builders, designers and architects are continuously modifying floor plans to meet their demands.

As a result, boomers in a position to sell their existing homes prefer building new homes so they can take advantage of new technology.

Some popular home design features that boomers want in their homes include flexible living space like multi-purpose rooms to be used to entertain, exercise and relax.

Those include pampering master suites with comfortable sitting areas, large his-and-her walk-in closets, master baths with garden-style tubs, dual sinks and if space permits, a small patio or terrace.

Baby boomers are also very particular about their kitchens. They want high-end amenities like professional grade appliances, granite countertops, hardwood flooring and custom cabinetry.

They also prefer one-story home designs. Most favor single-story homes over split levels; stairs are out and openness is in.

Another must have for boomers are indoor/outdoor entertainment areas for hosting elegant dinner parties or large cookouts for the family.

There are 77 million baby boomers in the U.S. and a larger percentage of them plan to move once they retire.