How 'Boomfluentials' Want to Retire

Posted by: Peter Coy on September 29, 2006

You are a Boomfluential if you are between 50 and 60 years old and have an annual household income of $100,000 or more.

Boomfluentials—according to publisher Hanley Wood LLC, which coined the term—are less likely than previous generations to stay close to family in retirement. A Hanley Wood survey of 2,000 Boomfluential homeowners found that 37% agreed that their adult children and their parents are not a consideration in creating their dream homes. And 63% said that enjoying their home is a slightly higher priority for them than spending time with their grandchildren.

Sounds like the ‘Me Generation’ never grew up, doesn’t it?

Boomfluential.jpg

Take a close look at the floor plan here, because Hanley Wood ordered it up to suit the tastes of the prototypical Boomfluential. It is luxurious without being especially large. In other words, not a lot of space for extended visits from the kids. There’s the lap pool (fitness!), the spacious living room (entertaining!), and the “auto and Harley garage” (adventure!).

The ample outdoor living spaces are well-suited to Southern climes, where Hanley Wood thinks many Boomfluentials will live. And notice the studio apartment, which would make a great home office for Boomfluentials who say they want to keep working in semi-retirement. And let’s not overlook the most obvious point: This is a brand-new house. Boomfluentials, more than previous generations, are interested in starting over with a house that suits their needs instead of aging in place.

Here’s an architect’s sketch of what this Boomfluential house would look like from the side:

boom-Traditional.JPG

Hanley Wood, by the way, is a media and information company for the housing and construction markets. It puts out magazines like Remodeling, stages trade shows, and provides home plans. It’s owned by affiliates of JPMorgan Partners.

Reader Comments

David Porter

September 29, 2006 1:46 PM

Peter,

Great article. Where can Boomfluentials find floor plans for these homes? Got a link to put in your article?

Peter Coy

October 5, 2006 2:30 PM

Somebody asked where people can get floor plans for Boomfluential houses. Answer from the company: "Peter, at this point, they're internal, conceptual drawings that are being used internally at Hanley Wood. Copies are not available. I'll let you know if that changes. Thanks."

Piotr

October 20, 2008 11:06 AM

I love the floor plan, it's open but at the same time it's small and private. I would love to build something like this.

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About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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