As you edge toward retirement, do you see yourself swinging a golf club on your backyard fairway or wiping the sweat off your brow as you mow your own lawn?
The active-adult community lifestyle can't compete with the lure of owning a single-family home (yard work included), according to a recent national survey of senior men and women conducted on behalf of ERA Real Estate.
Of the 21 percent of consumers age 50 and over who were interested in moving in the next five years, 63 percent said they would purchase a single-family home, while a mere 2 percent would opt for an active-adult community. When it comes to choosing new digs, only 18 percent of the respondents would purchase a condo or townhouse.
Top reasons for moving, according to the 1,000 people surveyed? More than half cited retirement as one of the reasons for buying a new home, followed by a desire to downsize, lower taxes, proximity to friends and family, a change of climate and affordability.
Family ties are strong for seniors, with 71 percent wanting to stay in close proximity to their loved ones. The urge to keep those family bonds tightly knit was slightly more important to women (77 percent) than men (65 percent).
Seniors who are contemplating buying or selling a home in the near future may look for a real estate agent who can address their unique needs. ERA Real Estate provides specialized training to its sales associates so they can better understand the housing and financing issues that are important to consumers age 50 and over.
Author: Ralph King
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