We hear from our friends at Keeping Current Matters that Baby Boomers are on the move! If you’re wondering whether now is the time for you to move, give us a call at (703) 242-3975. We’ll help you sort through your options!
According to a Merrill Lynch 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.
As 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.”
The top reason to relocate cited was “wanting to be closer to family” at 29%, a close second was “wanting to reduce home expenses” at 26%.
A recent Freddie Mac study found similar results, as “nearly 20 percent of Boomers said they would move closer to their grandchildren/children compared to 13 percent who said they would move to a warmer climate.”
Not Every Baby Boomer Downsizes
There is a common misconception that as retirees find themselves with fewer children at home, they will instantly desire a smaller home to maintain. While that may be the case for half of those surveyed, the study found that three in ten decide to actually upsize to a larger home.
Some choose to buy a home in a desirable destination with extra space for large family vacations, reunions, extended visits, or to allow other family members to move in with them. According to Merrill Lynch:
“Retirees often find their homes become places for family to come together and reconnect, particularly during holidays or summer vacations.”
If your housing needs have changed, or are about to change, let’s get together to discuss your next steps.
If you’re thinking of moving, you may want to use our state-of-the-art web sites to begin your research:
- Online INSTANT Home Valuation Estimator
- Home Search Site (check out homes for sale in your neighborhood)
And check out our FREE REPORTS – including:
- 4 Tips To Make Downsizing Easy
- 42 Questions You MUST Ask Your Realtor When Selling Your Home
- Do You Need To Stage Your Home When Selling?
- Is Northern Virginia A Retirement Paradise?
- Selling A Home When You Have Pets
- The Dangers of Overpricing Your Home and Other Truths You NEED To Know
- Why Sellers Choose The Belt Team – Executive Edition
Call Terry Belt or Kevin Kleifges at (703) 242-3975 to schedule a FREE consultation. We are one of Northern VA’s top real estate teams and are happy to help you make the RIGHT move!