A recent study by Merrill Lynch refers to a significant shift which occurs about age 61. The study refers to this change as "crossing the freedom threshold"… when where you live is no longer determined by responsibilities, but rather a freedom to live wherever you like.
At this point in life, you have more freedom to choose where you want to live than at any other time. Some choose to stay where they are, but according to the study 2/3 of retirees say that they are likely to move at least once during retirement.
The top reason for moving, and the one which we personally also find the most common reason for Baby Boomers making a move is wanting to be closer to family… followed by wanting to reduce home expenses.
While some want to downsize, many find themselves wanting more gathering space inside and out for family to come together for holidays, vacations, reunions and extended visits.
This is exactly the reason a couple is purchasing a recent listing of mine. Their children are grown and they want a place where they can come together to create memories just as the family before them had done. Whether moving to be closer to family or moving for space to accommodate family gatherings, family is the top motivating factor I find when Baby Boomers make a move.
Sharlene Hensrud, RE/MAX Results – Baby Boomer Realtor
The team at HomesMSP - Sharlene, John, Angela – Minneapolis-St. Paul Realtors
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