More and more of the Baby Boomer generation has reached the retirement years. They have lived through the long haul of their working life and have seen their kids are grown and gone (finally!).
Many Baby Boomers decide that this life transition is the perfect time to make a real estate transition. The husband and wife may be looking at each other in the middle of a large house saying, “now what?”
What are other Baby Boomers doing to meet their housing needs during this season of life?
- Some are keeping their current home as a rental property but moving into a smaller house. This can be a wise financial move as long as it doesn’t require taking out a large mortgage. You also need to be honest with yourself about whether or not you want to do the work necessary that comes with being a landlord. Being a landlord is not for everyone! Especially if you are relocating far away. But if you know you could keep up the property and live close enough to maintain it, renting out your current home could be a good option.
- Some are moving to a condo or townhome. This is a great option for those who still want to own a property, but do not want to be bothered with lots of yard work.
- Other Baby Boomers love yard work and gardening and are looking forward to retirement so as to have more time for it. Maybe you would like a larger yard or a property that has better sun for a garden. If you choose a house with a small footprint, you will not have to spend much time keeping up the inside.
- Over 55 communities and independent living facilities are other popular choices. Many retirement homes have long waiting lists so it’s not too early to choose your favorite. These communities are active and vibrant and there is comfort in knowing that if you had a medical emergency there would be help available for you immediately.
- Many Baby Boomers are moving to a different community or town. They may have lived in a particular place because of its close proximity to work, but now that they are retired, they do not need to live in that community. Some move close to their favorite baseball team. Others move to where the shopping or the fishing is good.
- Those with young grandkids are moving closer to them so they can see more soccer games or more dance recitals. They also may want to help out with babysitting or just be available to love on them as needed.
Are you a Baby Boomer ready to sell your home so you are free to pursue the house that suits your current season of life?
If so, this is a great time to be a seller in the Triangle Area! Many houses are selling quickly at the asking price or even above the asking price. If you are ready for a real estate change, contact Amy Shair. She will make sure you get your share of the market.