While a lot of the real estate market is at a standstill, Baby Boomers looking to downsize is a trend that continues to grow. With many older Boomers looking to realize the dream of living on a lake, Mansfield, MA-based Lakefront Living Realty, LLC, a full-service real estate brokerage specializing in uniting buyers and sellers of lakefront property, recently established a special division to meet the needs of this market.
“On one hand, purchasing a lakefront home is different than any other real estate. On the other hand you have the downsizing Baby Boomers who want to live on a lake, but without sacrificing the comforts and amenities of the home they now enjoy,” said Scott Freerksen, AKA “The Lake Guy” and broker/owner of Lakefront Living Realty. “It’s a challenging mix when you consider other factors important to late Boomers like; will this home be able to accommodate my kids and grandkids, can I downsize without downgrading, what will it be like to get around my lakefront home when I’m in my 70s or 80s, and concerns like that.”
What else makes the Baby Boomer market unique/challenging? According to a recent national survey of Coldwell Banker real estate agents who represent largely late Baby Boomers, only 28% said their clients were motivated by finances, while 49% expressed a stronger desire to live a little more simply (80% were looking looking to trade down to a smaller home). Adding another interesting wrinkle, according to TopRetirements.com, is that more than 50% of Boomers might move out of state to achieve that objective.
Another trend Freerksen has noted among his late Baby Boomer clients is an interest in buying lakefront property and installing a modular home.
“Let’s face it, many of the lakefront homes were mere cottages people built as summer getaways and were not meant to be year-round residences,” said Freerksen. “Modular homes give homebuyers, senior or otherwise, the opportunity to have the great location and comfort. Yet with waterfront regulations, matching recreational needs to your home and location, evaluating lake conditions, there’s a lot to consider.”
Lakefront Living Realty specializes solely on the purchase and sale of pond and lakefront property in all six New England states. In addition to their lakefront expertise, the company offers a current and complete database of lakefront properties on their website that features only direct lakefront homes. All the “riverfront”, “oceanfront”, “across the street”, “within walking distance” homes are taken out of the site.
“We knew we wanted to downsize and a lakefront home was desirable but also had no idea about where to start and the potential red flags to be on the lookout for,” said Ed Hargreaves, age 65, who purchased a lakefront home in 2011. “Having an expert like Scott looking out for our best interests helped make our dream of living on a lake come true—without any hiccups or surprises.”
For more information on Lakefront Living Realty’s services, you can visit their website at www.lakefrontliving.com. Additionally, Scott Freerksen holds seminars on the keys to buying and selling lakefront property. The next seminar is being held on March 25, from 10am to 2pm, at the Mansfield Holiday Inn, 31 Hampshire Street in Mansfield.
The price of admission is $29 and you’re allowed to bring a guest at half price or $15. Each attendee will receive more than $300 of take-home materials and be entered into a drawing to win a free kayak. Part of the proceeds from the seminar will be donated to Old Colony Habitat for Humanity. To register, go to http://www.lakefrontliving.com/seminarKeys.asp or call 508-377-7167.
About Lakefront Living Realty, LLC
Based in Mansfield, Massachusetts, Lakefront Living Realty, LLC is a full service real estate brokerage specializing solely on the purchase and sale of pond and lakefront property in the six New England states. Owner Scott “The Lake Guy” Freerksen, a Real Estate Broker and Realtor, founded Lakefrontliving.com in 2003 as way to support his real estate practice and to bring to potential buyers and sellers a website that features direct lakefront homes. All the “riverfront”, “oceanfront”, “across the street”, “within walking distance” homes are taken out of the site.
Lakefront Living Realty has one mission: To passionately unite Buyers and Sellers of lakefront property. For complete information, please visit www.lakefrontliving.com or call Scott at 508-377-7167.