Homes for Baby Boomers

Baby boomers that plan to move for retirement are looking for smaller, affordable homes that are easily accessible to medical care and near their family, according to a poll of more than 1,000 adults born between 1946 and 1964 conducted by Associated Press-LifeGoesStrong.com. Baby boomers who make more than $100,000 a year are the most likely to say they plan to buy a new home during retirement. For boomers who plan to purchase a new home, the most important factors cited in a home for retirement included:

• Smaller home (40%)
• Near medical offices or hospitals (39%)
• Different climate--perhaps warmer (30%)
• More affordable home (25%)
• Being closer to family (15%)

 

About 10 percent of baby boomers said they will search for a new city to relocate to that offers more services for them in retirement. Only 8 percent of baby boomers surveyed say they want a larger home for retirement, the poll finds. However, more baby boomers say they don’t have any plans to move after they retire, the poll finds.

Source: The Associated Press