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55+: Why Sell? Why Stay? How to Prepare. Part 2 of 3

by Denise Townsend Group

Part 2, Why Stay?

 

Aging in Place.

A lot of our grandparents and great-grandparents had plans to retire and move somewhere else.  Become a Snowbird and live in Florida for the winter months.  Move to that second home in the country.  Buy a smaller home in a retirement community because the kids were gone. All this was common.  Not so much anymore.  "I'm going to stay here until the day I die" is now often said.  People have spent years making a home a home.  Homes can be modified to meet your aging needs.  Home health care and delivery services is becoming common and a preferable choice rather than hospital or nursing home care.

Working in to their later years.

In some cases this is necessary to make ends meet financially.  For others, the idea of retiring and taking it easy sounds good until they try it.  Boring!  Working full-time past retirement age is becoming more and more common.  So is working part-time.  Baby Boomers don't want to take it as easy as their Silent and GI generation parents.

People are healthier, living longer.

Marketing, self-awareness, education and medical breakthroughs are keeping us around longer, and generally healthier.  Remember, Boomers are "forever young".  And they want to stay that way.  Health and home goes hand in hand.  As long as they can keep up the home, and get around it, they're staying.

Cautious of the markets.

Those approaching or in retirement age remember the recessions of 1980, 2000 and 2008.  Housing markets are not predictable.  Some people are shy to make a move from a home with equity, paid-off or nearly paid-off.  It's become a wait and see approach for some.

Children.

Many people choose to stay close to their families. Even if they have to move for some reason, they want to be within a few hours drive.  Younger Boomers may still be raising children at home.  Due to the latest recession, children are moving back home or staying after college due to the lack of jobs.  And there is a rise in the number of grandparents raising their grandchildren due to family and financial issues.

Houses are an investment.

The GI and Silent generations didn't look at real estate as a big investment.  It was just a home.  Not so with the remaining generations.  And walking away from an investment is not an easy thing, or even an option.

No urgent needs.

If it's not broke, don't fix it.  Why move if you are financially set to stay.  Your health is good so there are no worries about maintenance or getting around.

 

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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