December 11, 2008 Elad Bushari

One in four baby boom generation households (26%) expects to move from their current home in the future, with the majority looking for a single-level home that is more comfortable or convenient, according to a new survey prepared for AARP.Echoing past surveys, most boomers (79%) say they would like to stay in their current home for as long as possible.  Some – less than 10% — said they would like to stay in their current home but don’t think they will be able to do so.

Many of those who expect to move said they will be looking for a better house, a better climate or a home that is closer to family and friends. More than half of those boomers (age 45-64) planning to move expect to look for a home that’s all on one level (59%).  About half said they will look for a newer home (50%) or a smaller home (49%).

The poll conducted by Opinion Research Corporation for AARP * was released to coincide with the announcement of the 2008 Livable Communities Awards from AARP and the National Association of Home Builders (NAHB) honoring innovative thinking in the field of home and community design.

Older boomers are significantly more likely than younger boomers to think that they will move into a single level home (68% vs. 54% of those planning to move), but age is not the only factor that affects expectations.  Boomer men are more likely than women to believe they will move into a newer home (61% vs. 42%) or move into a home in a warmer or better climate (41% vs. 25%)  Boomer women are more likely than men to think they will move into a smaller home or condo (54% v. 41%).

“While boomers will reflect the patterns of earlier generations and mostly age in place,” said Elinor Ginzler, Senior Vice President of AARP, “the sheer number of boomers will increase demand for a whole variety of home and community options. The 2008 Livable Communities Award winners offer some great examples of appealing, user-friendly design.”  The number of persons age 65 and older is expected grow to 70 million by 2030.

Elad Bushari

Elad Bushari is the Broker / Owner of Bushari Group Real Estate and a National "30 Under 30" Honoree by REALTOR Magazine in 2009.

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