A leading Architectural practice has combined with a property research company and an advertising agency, to identify what types of homes this generation will be looking for over the next five to ten years. The matures were born between 1925 and 1945.
- The matures are typically selling up to buy smaller homes and are the most likely group to consider moving into an apartment as owner occupiers.
- They prefer level living and are moving from the suburbs closer to the city.
- They regard personal security as a priority, and welcome the opportunity to live in communities that are fully secure.
- The appreciation of luxury fittings and quality inclusions in there living environment, give them a feeling of great reward, for all there hard work.
- Would prefer to live downstairs and have other bedrooms upstairs for younger visitors.
- They prefer to see the finished product than buy off the plan.
This generation are very asset rich and are passing on great wealth to their children the baby boomers. With property a main key to the matures wealth over the years there is no doubt that their children were the first ones that were encouraged to own bricks and mortar also at an early age. These are the people that are coming into the property market with not only their wealth from bricks and mortar, but their deceased parents also.
These baby boomers are selling up the big blocks of land wanting lush apartments with lifts, and waterviews in small boutique apartment blocks.
Money is no object if the product is suitable to their needs and three bed apartments plus a study is perfect for their needs. These people will buy off the plan but the matures won't they need to really touch and feel and developers know that and are prepared to finish the product first, because higher prices are usually achieved this way. Level living is a must for the matures because of knee ailments and other health problems that stop them from trudging up stairs. Lifts are also a must should they be moving into a apartment block and security needs to be real tight. A lot of matures should they be not cashed up are hoping to downsize and pocket some money after the sale. This can be a real problem when most matures are wanting to stay near local doctors and family members, which sometimes doesn't allow them to do, because buying back something of lesser value in the same area is not possible.
Because of this being such a problem Kuringai council on the upper north shore has allowed highrise units to be built all the way up and down near the stations so that more affordable living can be put in place.It means that the people selling in the $1million bracket can then sell and be in a position to buy a unit for around $750,000 and have a little bit of money to live on.
Shop 1, 696 Military Road
Mosman NSW 2090