Baby Boomers 1946 Thru 1964

Dated: 06/06/2019

Views: 82

What is Important to Boomers when Selling their House?

What is Important to Boomers when Selling their House? | MyKCM

If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Your children may have finally moved out. Your large, four-bedroom house with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. You may be ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering.

The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to72). Here are a few of the more interesting topics.

Percentage of Buyers who Looked Online First

  • All Buyers: 44%

  • Younger Boomers: 46%

  • Older Boomers: 44%

Where Boomers Found the Home They Purchased

The two major ways buyers found the home they purchased:

  • All buyers: 50% on the internet, 28% through a real estate agent

  • Younger Boomers: 46% on the internet, 33% through a real estate agent

  • Older Boomers: 36% on the internet, 35% through a real estate agent

Distance Seller Moved

The distance between the home they purchased and the home they recently sold was much greater for boomers than the average seller.

  • All sellers: 20 miles

  • Younger Boomers: 27 miles

  • Older Boomers: 50 miles

Tenure in Previous Home of Seller

The percentage of older boomers who lived in their previous home for more than 20 years was almost twice the amount of the average seller.

  • All sellers: 16%

  • Younger Boomers: 20%

  • Older Boomers: 31%

Primary Reason to Sell their Previous Home

  • Want to move closer to friends or family

  • Home too large

  • Retirement

View of Homeownership as a Financial Investment

  • 83% of Younger Boomers see homeownership as a good investment

  • 82% of Older Boomers see homeownership as a good investment

Bottom Line

If you are a boomer and thinking about selling, now might be the time to contact an agent to help determine your options, Then call me Becky Shiffer 541-913-9910 I Understand that Behind Every Door Someone's Life is Happening" and I respect that.

Latest Blog Posts

6 Graphs Showing The Strength Of The Current Housing Market

Some Highlights: Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home. Mortgage rates

Read More

Freddie Mac Fannie Mae And The Mortgage Bankers Association Are All Projecting Home Sales Will Incre

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020.Below is a chart depicting the projections of each

Read More

How Property Taxes Can Impact Your Mortgage Payment

                                                       

Read More

Everybody Calm Down This Is NOT 2008

Last week realtor.com released the results of a survey that produced three major revelations:53% of home purchasers (first-time and repeat buyers) currently in the market believe

Read More