AARP: One In Four Boomers Plan To Move
Echoing past surveys, almost 80 percent of boomers indicated they would like to stay in their current home for as long as possible. Less than 10 percent 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 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 percent). About half said they will look for a newer home or a smaller home.
Older boomers are significantly more likely than younger boomers to think that they will move into a single-level home (68 percent vs. 54 percent 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 percent vs. 42 percent) or move into a home in a warmer or better climate (41 percent vs. 25 percent). Boomer women are more likely than men to think they will move into a smaller home (54 percent vs. 41 percent).
“While boomers will reflect the patterns of earlier generations and mostly age in place,” Elinor Ginzler, senior vice president of AARP, said, “the sheer number of boomers will increase demand for a whole variety of home and community options.”
The number of persons age 65 and older is expected to grow to 70 million by 2030.