Online Buzz: Baby Boomers Are Staying Put
Downsize to a smaller place? Move to a senior living community? A new study finds that over half of the baby boomers want to stay right where they are after retirement—perhaps remodeling to make their homes a better fit.
Last year, Caring Right at Home polled our readers about where they plan to live after retirement. Half of our respondents said they want to stay in their current home. Now, a major new survey takes a look at this growing trend.
Baby boomers, Americans born between 1946 and 1964, are proving the retirement and housing market experts wrong. Instead of finding that the majority of boomers are planning to downsize to a condo or patio home as predicted, a survey by the nonprofit Demand Institute found that nearly two-thirds of boomers are not planning to move at all once they retire.
Forty-two percent of those surveyed who plan to move want to buy a smaller home, and 26 percent want to buy a house of the same size. The older adults who plan to remain in their current homes are considering the following:
- Remodeling to increase safety features.
- Refinancing to take advantage of lower interest rates.
- Remaining in proximity to family and long-time, close friends.
|Learn more about this senior living trend and how in-home care helps boomers support their living choices in the Right at Home blog, where you will always find the latest information about senior care and home care.|