Planning for Residential after Retirement of 3 Generations Case Study : The Government Housing Bank The National Housing Authority and Grand Canal Land Public Company Limited

Abstract

This research is a study of housing planning and financial arrangements for retirement. The target group is the working age divided into 3 generations. Gen B or Baby Boomer Generation (born in 1946-1964 or 53-71 years old), Gen X or Generation X (born in 1965-1980 or 37-52 years old), Gen Y or Generation Y (born in 1981-2000 or 17-36 years old) with the objective to study the socio-economic factors, analysis of housing patterns and suggesting housing planning for the retirement age of 3 generations and comparing whether each age range is planning differently. Case studies are taken from the National Housing Authority, Government Housing Bank and Grand Canal Land Public Company Limited, with a total population of 5,639 persons, sampling 374.

The study indicated Gen X is planning a retirement home for 80%. There are two plans for retirement. The first plan with 41% is to live at the current home and to make housing improvements by renovating the bathroom and bedroom with a budget not exceeding 300,000 Baht. The second plan with 39% is to move  because they want to move back to their home towns or provinces. The preferred housing type is a 2 story house with 3 bedrooms, 3 bathrooms, 200 sq.m., with a budget of no more than 3 million baht. The former housing plan for retirement is preferred by 73% of Gen Y, and the latter being preferred by 72% of Gen B. There are two types of retirement plans. The optimal age for residential retirement is 29-35 years old.