Housing Trends for Baby Boomers
Once you are ready to retire, how should you choose your retirement destination. There are several housing trends right now on what to do. Some people are trading down, some are moving in together, some move closer to their kids, some choose a retirement community, others choose to live together, and some just stay put where they are. The key thing is plan your strategy and choose carefully. Perhaps renting for a year in the new place is better. Gives you a chance to get acclimated and see if you like your new place. The services, amenities, restaurants, shopping, things to do, etc. What follows is a set of key articles on some of the things you should be looking at when planning this new town for your retirement. What is good nowadays is that you don’t have to leave your living room or study to find out what appeals to you and a lot of things to consider in each location you choose.
If you own a big home and the kids have left, the house is too big for two of you, you need to trade down to a smaller place that will fit your new style once you retire. Selling your primary home also means additional equity is freed to supplement your income. Other people find that moving together as roommates makes sense, the monthly cost is shared and the companionship is key. This makes sense if you have friends with similar tastes and similar circumstances. If you have children and grandchildren that want you closer, you can buy a place closer and get the benefit of being in their lives all the time. There are several friends who have chosen this route and their lives have been enriched because of that. Moving into a 55+ community makes sense if you are looking at kindred spirits with activities that are more retiree kind of things such as golf, getting together, planning outings but still have separate housing within the community. Finally, there is a movement for multigenerational housing where parents, grandparents and kids live together and share the costs and responsibilities. This is a move to another ear when the necessities of agrarian life made sense to stick together within one roof.
What you decide to do is up to you and you must plan carefully to ensure you are happy with the new arrangement.
What have you decided to do??