What Would Make Baby Boomers Move?

DAILY REAL ESTATE NEWS | MONDAY, JUNE 20, 2016

Eighty percent of baby boomers recently surveyed by AARP say they want to stay in their own home as they age.

In fact, by market level, baby boomers in Houston; Lansing, Mich.; and Tallahassee, Fla. prove to be the most adamant about aging-in-place, with 87 percent of residents saying they don't want to move, according to AARP’s survey of residents age 50 and older in 11 metros across the country.

Read more: Talk Up Age-in-Place Home Possibilities

That said, looking at the markets evaluated, there are a few motivators that may make boomers think otherwise. In particular, many baby boomers said they’d be willing to move for functional or economic benefits.

Around 51 percent of respondents said they’d move from their current home if they found a home that would allow them to live independently as they age. Forty-nine percent also reported being swayed by moving to either a larger or smaller home.

Being close to family was less of a motivating factor for many boomers, just 35 percent said that was a major reason why they would move. Also, communal features such as public transportation and advanced health facilities aren’t big motivators either, at 21 percent and 20 percent respectively.

By market level, Washington County, Ore., respondents are most swayed by independent living features and moving to a different size of home. In Brownsville, Texas, baby boomers are most tempted by keeping close family ties as a reason to move. In Lansing and Philadelphia, baby boomers say they’d be more willing to move if they could lower their financial burden.

Source: “AARP: Most Boomers Want to Stay Put, But Active,” BUILDER (June 17, 2016)