Health & Fitness
Buying a retirement home the Boomer way
The survey indicated 57 percent of Boomers planned to move out of their current home, and 70 percent believe the house they retire in will be the best home in which they have ever lived. The survey also showed that 1 out of 4 Boomers also planned to buy a second home during their retirement years, such as a vacation or beach house.
Showing renewed confidence in the real estate market, 31 percent of Baby Boomers are more likely to want to their current home than they were five years ago.
The survey was conducted by Wakefield Research in February 2014.
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Buying a retirement home that best meets your goals
If anything, the results of this survey simply illustrate what I’ve already seen firsthand in the Pasadena area real estate market. Baby Boomers are optimistic about their future, and they’re planning active, independent lifestyles. The fact that such a large percentage of boomers intend to buy their best home ever for retirement -- and a quarter of them plan to buy a second vacation home -- shows their optimism for achieving the ideal retirement.
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But of course, people buying a retirement home still have certain goals to achieve, and working with the right agent can make a difference it your experience with the real estate market. There are those retirees who will want to relocate to distant locations. Working with an agent who has experience with international real estate, or even just helping clients relocate across the US, can be valuable. But the survey shows many boomers -- some 72 percent -- plan to retire in the state where they live. Staying close to children and grandchildren can make your retirement years fulfilling, even if you’re not quite ready to settle down in a retirement community and spend your days playing cards.
Even if you stay close to home, you may have some specific requirements you want met, whether that’s finding a home with custom features, or buying a place that going to require as little upkeep as possible. The survey showed than two-thirds of retirees -- or 69 percent -- who plan to move are willing to update or renovate a home if necessary. And 42 percent of respondents want a home with low-maintenance requirements.
