The Ups of Going Down for Baby Boomers: Downsizing for Retirement Living
For many Americans, especially the Baby Boomer generation, retirement is either here or just on the horizon. The first of the Boomer generation to hit retirement age was in 2011 and according to the National Association of REALTORS®, the population of baby boomers entering retirement is projected to be 10,000 people a day, for at least the next two decades! I don’t know about you, but my mind is officially blown. This is the largest mass retirement in the country’s history. So, what does it mean for the Boomers? The Boomers are a generation unlike any who came before them and we are in the midst of an unprecedented housing shift.
The decision for many Boomers to downsize their homes is an important and complex choice. However, there are many upsides to “downsizing!”
Downsizing is not a punishment—it is a change in location to better fit your new lifestyle! It’s definitely a big decision and one that requires careful consideration of the pros and cons. Downsizing isn’t for everyone, but it should definitely be a consideration in planning for retirement; and especially for those that have an aversion to spending their golden years dusting the house.
Lisa E. Priest is local REALTOR® with Picket Fence Realty, Inc. You can reach her via phone or text at 903-948-3343 or email [email protected] or at BuyPalestine.com.