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Search the San Diego MLS(includes all areas in San Diego County)
February 04, 2009
RETIREES TAKE ANOTHER LOOK AT WHAT THEY WANT IN THEIR NEW HOMES
While the present state of the economy is causing home buyers to seriously consider downsizing, those fifty-five and older are actually doing it. During the nineties, retirees wanted to move to a moderate to warm climate, but now their priority in finding a place to live is the cost of living. This is opening the doors to states other than the traditional retirement locales, especially those in the south and southeast. Of those who are
approaching retirement, approximately 35 percent plan to purchase a new home, and over 15 percent of them are planning to move out of state.
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In addition to moving to a new state, such as the Carolinas and Georgia, they want practical amenities in their new homes, such as adequate space for storage, in-unit laundry facilities, user-friendly thermostats, limited (if any) number of stairs, attached garages with automatic door openers, security systems and private outdoor sitting areas. As the Baby Boomer generation continues to age, more barrier-free features, such a widened hallways, wheelchair-accessible showers and easy-to-open doors and windows will become a selling point as well.
Location and services are also important to the older buyer. Nearby parks, golf courses and public transportation are definite pluses, while services such as lawn care and home maintenance are on their list of desirable features.
Those who are 55 years old or older make up over 36 percent of American households, and this number is expected to increase every year. By the year 2019, nearly 45 percent of all households will be of retirement age. Eighty percent of those aged 55 to 73 are homeowners, as opposed to an ownership rate of nearly 66 percent for the overall country. Those older Americans who are planning to move desire amenities and services that will make home-owning easier, thus freeing up their time to enjoy their retirement.
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