Real Estate With LATRICIA KELLY Baby Boomers Finding Freedom In Retirement Simplifying The Market B

Dated: 11/05/2015

Views: 247

 For Buyers & For Sellers

Image title



Within the next five years, Baby Boomers are projected to have the largest household growth of any other generation during that same time period, according to the Joint Center for Housing Studies of Harvard.

 Let’s take a look at why…In a recent Merrill Lynch study, “Home in Retirement: More Freedom, New Choices” they surveyed nearly 6,000 adults ages 21 and older about housing. Crossing the “Freedom Threshold”Throughout our lives, there are often responsibilities that dictate where we live. Whether being in the best school district for our children, being close to our jobs, or some other factor is preventing a move, the study found that there is a substantial shift that takes place at age 61.The study refers to this change as “Crossing the Freedom Threshold”. 

When where you live is no longer determined by responsibilities, but rather a freedom to live wherever you like. (see the chart below)Crossing The Freedom Threshold | Simplifying The MarketAs one participant in the study stated:“In retirement, you have the chance to live anywhere you want. Or you can just stay where you are. There hasn’t been another time in life when we’ve had that kind of freedom.”On the MoveAccording to the study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement.The top reason to relocate cited was “wanting to be closer to family” at 29%, a close second was “wanting to reduce home expenses”. 

See the chart below for the top 6 reasons broken down. Click for more...

http://www.simplifyingthemarket.com/2015/11/03/baby-boomers-finding-freedom-in-retirement/?a=249157-dd716841b90b486692cc9ff786ab9546

Blog author image

LaTricia Kelly

Hi, welcome to my home search and value website dedicated to the Eglin AFB and Greater Destin Area. I am a single mom of two beautiful daughters and spent over 17 years as an Air Force spouse, so I kn....

Latest Blog Posts

Homeowners Reveal Their Top Nonnegotiable Amenities

September 24, 2018Home shoppers are unwilling to negotiate on certain amenities, and prime among them are central air conditioning and a private patio or backyard, according to a new survey of more

Read More

Rising Mortgage Costs Remain Below 2006-07 Peak

September 24, 2018With home prices mostly holding to an upward trend, more owners are facing rising mortgage costs. But even so, homeowners are still paying less in mortgage payments than they did

Read More

5 Signs You’re Ready to Buy a Vacation Home

By the Experts at HippoYou've just returned from a trip to the beach. You ask yourself: Why should I continue to pay rental fees when I could own a vacation home and rent it out? Unless you're

Read More

Real Estate Community Focuses on Disaster Preparedness

September 6, 2018Natural disasters such as floods, fires, hurricanes, and mudslides pose threats to more communities than ever before, and the real estate community is keeping an eye on how this

Read More