Baby Boomers, Gen Xers Staying Put

By Elyse Umlauf-Garneau

Many expect that when people reach a certain age, they’ll want to sell their homes and
downsize. But a recent Bank of America survey found that 70% of homeowners between the ages of 45 and 76 have decided to stay put and age right where they are.

After all, 78% say they like their current home and see no reason to move, and 22% have put so much work into their existing property that they want to stay.

Some reasons for remaining in their current property for aging in place among those who’ve not yet retired include avoiding high home prices and interest rates (32%) and benefiting from their current low mortgage payment or a paid-off home (20%). After all, 78% say they like their current home and see no reason to move, and 22% have put so
much work into their existing property that they want to stay.

In addition, about 95% of current mortgage holders have loans with rates of 5% or less, making them hesitant about giving up their low mortgage rates.

Bank of America notes that decisions by baby boomers and Gen Xers to keep their homes can affect the country’s already tight home inventory and make it tougher for the next generations to buy homes.

An added note from Kelly Vandever:

At 80 years and 11 months old, my dad made the move from his home of 30 years in Florida into an assisted living community two miles from my house. We all knew it wasn’t safe for him to live alone any longer. It was a difficult, emotional decision, but we all knew it was the right thing to do. And I do so enjoy having him close.

If you are considering making a move or if you have a parent that needs to make a move, please reach out.

As a Senior Real Estate Specialist®, I have unique training and experience to help those 50 plus with making moves.

I have a network of other professionals focused on 50 plus clients. I can provide referrals to a variety of resources at the local, state, and national level and on the internet.

I’m knowledgeable about senior housing options and can refer you to another senior real estate specialist if you’re moving out of the area.

I helped my dad and a number of others 50 plus to make their moves.

You can count on me to listen, laugh at your jokes, understand your concerns, and help you through the selling or buying process. Let’s make the transition less stressful and more successful together.

Give me a call at 770-597-1108. Let’s talk.

Kelly Vandever, REALTOR®
Seniors Real Estate Specialist® (SRES®) 
Real Estate Negotiation Expert® (RENE®) 
Keller Williams North Atlanta
License # 391485
Mobile 770-597-1108
[email protected]
kellyvandever.com