Survey Gauges What Baby Boomers Are Looking for in a New Home
Within the next 3 years, 38 percent of baby boomers plan to buy a new home, and 11 percent will do so in a year, according to PulteGroup's new survey of 1,043 people aged 50 and 65 who plan to buy a home in the next decade.
This data showed that Florida is the most desirable retirement location for boomers, and being close to their children was a top consideration. 33 percent of respondents want to downsize, and 39 percent said the biggest reason for moving is wanting to retire, per Realtor.com.
"Retirement marks a new phase in a baby boomer’s life, and it only seems natural to relocate or move to a new home when transitioning away from their primary career, or from the day-to-day rearing of school-aged children," Jay Mason, vice president of market intelligence for PulteGroup, said in a statement. "It’s not surprising that the 55+ buyer wants a variety of options and choices in their homes."