This is part 1, Why Sell (or move)?

 

Here are some Facts:

In 2010:

More than one-third of the U.S. population reached age 50
 

—17 million Baby Boomers, 20 percent, were age 60 or older.

Generation X moved into middle age and began knocking on the door of age 50

80% of homeowners are 50+

 

There are 6 Generation classifications:

G.I. - 90+ years old, 1.5% of the population, 4.8 million people

Silent - 69-89 yrs old, 11.4% of the population, 35.3 million people

Baby Boomers - 50-68 yrs old, 24.6% of the population, 76.5 million people

Gen X - 38-49 yrs old, 16% of the population, 49.6 million people

Gen Y - 20-37 yrs old, 24.8% of the population, 77.2 million people

Gen Z - 19 or younger, 21.4% of the population, 66.5 million people

 
Why Sell?
 
Bigger home
For some, getting older means going larger.  Maybe you had a smaller home and now you can afford something newer and larger.  Perhaps you want room for visiting children and grandchildren.  For some, they may need a larger home because their children are returning home due to the economic down turn.  And more and more grandparents are raising their grandchildren.
 
Down-size.
On the other hand, empty nesters may want a smaller place to take care of because they don't need or want the room.  Maybe a spouse has passed on.  People also down-size because they have a vacation or retirement home and don't want to take care of a larger home when they come back to visit.  Or maybe they are moving to that smaller vacation home.  Maybe it's health related and a single-level home is easier to get around in than a multi-level home.
 
Active Adult Community.
As in our previous blogs, these communities have like-minded people who have down-sized.  They are made up of retired or retiring people.  Some are "snow birds" that have winter residences in warmer climates.  They offer single-level homes, condos and apartments, making it easier to get around now or in the future.
 
Health.
Unfortunately, we sometimes can't control what becomes of us heath wise.  Progressive or chronic conditions, urgent needs, sudden changes and advanced conditions force us to move.  Maybe it's just down-sizing to a single-level home or one in an adult community.  Other times it's to various assisted living facilities because more advanced care is needed. 
 
Family Concerns.
Family members often get concerned about where their parents and grandparents live.  The world is full of "what ifs".  What if you fall...  What if something needs to be fixed...  What if you need to get a hold of someone in an emergency...  These are not signs of nagging, but of concern.  Concerns also include the loved ones income level, being alone, safety in the neighborhood and living too far away, just to name a few. More and more popular are children who purchase extended family homes; homes for them, their children and their parents or grandparents.  Usually these homes have separate living quarters, with all the amenities, on a smaller and private scale.  Money to purchase these homes are sometimes shared or gifted from the sale of the other home.
 
Income.
People now a days are working longer and not retiring, or semi-retiring.  It may be necessary to keep the income coming in, but for some, they don't want to slow down and retire.  Others may find they can not afford a large home even if it is paid off.  Taxes and maintenance are expensive.  Moving elsewhere or to a smaller home may save them a lot of money when they do retire.
 
 

 

Tom Townsend, Broker, SRES

Denise Townsend Group

Keller Williams Sunset Corridor

1915 NW Amberglen Pkwy #250

Beaverton OR 97006

503-504-3961

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