Real Estate by Generations
Real estate in thriving resort towns has continued to be a good financial investment. Return on your real estate investment in resort markets has added bonuses of personal pleasure, shared experience and legacy…
In the Sunday River area, we see multi-generation families sharing real estate investments around the joy of outdoor adventures. Second homes of grandparents used with their children and children’s children. Ski in ski out condos owned by first time buyers, often including their parents or siblings. Fractional ownership units co-owned by extended family members or even friends-
The GI Generation; born between 1901 and 1925, these pioneers of skiing and all things outdoors, were some of the first ‘vacationers’ to come to this area to purchase land for the sole purpose of enjoying being outside. What they have built are now homes for re-sale often needing remodeling- We list a lot of these older homes at some terrific prices.
The Silent Generation; born between 1926 and 1945, these were the first people to truly embrace the idea of a ski resort and vacationing just to ski or hike or fish. Many of this generation are living on fixed incomes, but still find purchasing smaller camps or homes, just off the ski hill, is affordable and offer their children and grand children a place and a reason to gather. Homes on small ponds are popular as they boast multi-seasons for their multi-generational use.
Baby Boomers; born between 1946 and 1964, this is the generation to first embrace the ski condo phenomenon. They bought quick and easy access to their favorite past time, skiing. This crowd now has grown children, many starting families of their own. The ski condo theme is still very popular with this group as they are often quite physically active and able to afford this additional vacation lifestyle home. Enjoying a retirement home for longer than their parents did, they are upgrading their original condos or buying bigger ones with more amenities in nearby complexes or going even bigger and buying some of the beautiful properties adjacent to the ski resort with spectacular views and built in luxury features.
Generation X; born between 1965 and 1979, in their prime earning years, this group tends to buy stability. Perhaps burned by their first real estate transaction on a primary home from the housing market crash almost a decade ago, they now value stability in real estate acquisition. They understand the markets they are looking into and see real estate in thriving resort communities as good value, with and eye on resale down the road. This group may also be interested in new developments, of quality construction- just minutes from the ski resort with the dream of retirement in the mountains of western Maine.
Millennials; born between 1980 and 1995, this group is just joining the real estate world. Often buying real estate to re-hab and flip, they are independent but enjoy shared experiences. Fractional ownership is also appealing to them- not tied into one vacation spot but having the option to come and go without the full time burden of whole ownership. Also, the homes now for sale and needing remodeling from the GI Generation are often interesting to this group.
For all these generations there remain constants- their love of the outdoors, most often skiing and real estate in Western Maine is still a great investment.
Contact me and let me help you find a way to fit into our amazing lifestyle. It’s a great investment!
