Baby Boomers Are On the Move

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According to a Merrill Lynch study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement.

As one participant in the study stated:

“In retirement, you have the chance to live anywhere you want. Or you can just stay where you are. There hasn’t been another time in life when we’ve had that kind of freedom.”

The top reason to relocate cited was “wanting to be closer to family” at 29%, a close second was “wanting to reduce home expenses” at 26%.

A recent Freddie Mac study found similar results, as “nearly 20 percent of Boomers said they would move closer to their grandchildren/children compared to 13 percent who said they would move to a warmer climate.”

Not Every Baby Boomer Downsizes

There is a common misconception that as retirees find themselves with fewer children at home, they will instantly desire a smaller home to maintain. While that may be the case for half of those surveyed, the study found that three in ten decide to actually upsize to a larger home.

Some choose to buy a home in a desirable destination with extra space for large family vacations, reunions, extended visits, or to allow other family members to move in with them. According to Merrill Lynch:

“Retirees often find their homes become places for family to come together and reconnect, particularly during holidays or summer vacations.”

Bottom Line

If your housing needs have changed, or are about to change, let’s get together to discuss your next steps.

Books Help A Home Sell

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There are a lot of things to help a home sell when it comes to staging your home with lovely decorating touches.

Not only does your home office need to look chic. It needs to look like people actually use it for work and play. When I use the word play…I mean reading. Reading a good book.

This is a photo from an actual home office in an executive home filled with wonderful first edition and vintage books. The whole wall takes your breath away. I think it may just help this particular home find a buyer!

Read for the love of it. Decorate with books because they are beautiful.

What Moms Want in a House

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NEW YORK – July 18, 2016 – The configuration of the home is more important to buyers with children these days, Jeff Martel, a real estate professional with Better Homes and Gardens Real Estate, told MarketWatch.

“Ten years ago, the only thing families were looking for was square footage and a large yard,” he says. But now more family home shoppers are placing an open floor plan high on their list rather than separated rooms.

“Everything happens in the kitchen,” he says. “Kids use the islands now for breakfast, lunch and dinner.”

Here are other house features that parents desire the most, according to real estate professionals:

Office nook: Martel sees a declining interest in having a separate home office. Instead, he has more clients asking for an office nook off the main living space so that parents can better monitor their children while the kids are online. “You want a family office that’s very visible with a direct sightline to the kitchen,” he says.

Garage access: Location of the garage is also important, adds Lindsay Alteri, who works for BHGRE in Raleigh, N.C., and is also a mother of two young children. “If there are stairs to and from the garage, are you going to be willing to go up and down them carrying a child” in from the car? she notes.

Mud room: Also, a garage that walks into an area in the laundry room is desirable, adds Stacy Barry, a real estate professional at Century 21 Scheetz in Indianapolis. “You want a ‘mud room’ that has a bench and some storage for boots that’s done in a hardwood or laminate where you can drop everything like backpacks and jackets,” Martel adds.

Built-in storage: “Kids come with clutter,” Martel says. Parents are wanting a lot of built-in storage in bedrooms, attics, spaces under stairs, and even hidden storage behind bookshelves.

Source: “What Moms Look for When Buying a House,” MarketWatch (June 19, 2016)