There are currently around 78 million baby boomers.They Will Surprise You with the new trends they want to follow. According to a survey by the AARP, 87% of baby boomers said they wanted to stay in their homes upon retirement, so they can be near family and friends and remain a part of the communities they have been in for so long.
However, the remaining 13% which is 10+ million do want to move. If there is a place that offers a travel, better accessibility, activity groups, or to be closer to family — they aren’t afraid to move. Some of them looking for a big, some want small place.
According to a national survey conducted by Trulia, 21% of baby boomers want a smaller house to reduce the amount of time and money they spend on maintenance, and they want to pay off their mortgages. According to a survey the average homeowner age 65 and older has about $200,000 in equity in their home and they willing to spend part of it on smaller home and use the rest for travel and hobbies.
At the other end of the spectrum, 26% of baby boomers said they wanted a bigger home than the one they are leaving.
The Trulia study also found that 53% of the 2,000 boomers polled said they were already living in their ideal size home. In essence, the majority of baby boomers that do want to relocate will be looking for the same size home or something bigger, with only that small 21% looking to downsize.
Location and convenience is the most important in making the decision in buying a home.
After living and working in a car driving distances for many years, many baby boomers are seeking out the walk-able neighborhoods. Most Active Adult Retirement communities offer just that. The residents can walk, bike or take a golf cart down to the shops, restaurants, gyms and pools or all needed amenities are within walking distances. The availability and proximity of services are a big draw for baby boomers.
The main thing about baby boomer real estate is that this group can be unpredictable. Some want bigger, some want smaller; some want to move to the country while others run straight for the city. Palm Beach County Real Estate and our inventory of Active Adults communities can covers most of their expectations. There are several large gated communities very affordable condos complexes and bigger and more luxury homes which are available and suitable for Baby Boomers generation.