Retiring Boomers Plan to Buy New Homes
Many baby boomers want new homes as they retire and take on new lifestyles. This was one of the key findings in a recent survey commissioned by home builder Del Webb. The company regularly monitors the attitudes of this ever-important customer group between the ages of 41 and 59 years old.
Jacque Petroulakis, spokewoman for Pulte Homes, said:
"This market segment is so important for so many reasons."
There are approximately 77 million baby boomers in the United States.
The survey's data also indicated the following:
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Fifty-nine percent of the boomers age 41 to 49 want to buy a home for retirement; half of all boomers 50-59 are planning on doing the same.
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Social security is a big concern for many boomers, as 62 percent age 41 to 54 believe the system is "in crisis;" seventy-five percent of the group will not rely entirely on social security to fund their retirement.
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One-fourth of the non-retired boomers age 41 to 54 believe they will end up retiring later than expected due to social security worries.
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The rising cost of health care in retirement was the primary concern of all respondents.
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All ages indicated their number one retirement activity would focus on travel. Other planned activities included learning new skills, exercising, volunteering and sharing time with friends.
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Some boomers will continue to work after retiring, either because of money needs or a simple desire to stay active.
This is an excellent time for wise investors and future retirees to take a serious look at the exploding housing markets in both Hawaii and Arizona!
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