Baby boomers that plan to move for retirement are looking for smaller, affordable homes that are easily accessible to medical care and near their family, according to a poll of more than 1,000 adults born between 1946 and 1964 conducted by Associated Press. Baby boomers who make more than $100,000 a year are the most likely to say they plan to buy a new home during retirement. For boomers who plan to purchase a new home, the most important factors cited in a home for retirement included:
- Smaller home (40%)
- Near medical offices or hospitals (39%)
- Different climate--perhaps warmer (30%)
- More affordable home (25%)
- Being closer to family (15%)
About 10 percent of baby boomers said they will search for a new city to relocate to that offers more services for them in retirement. Only 8 percent of baby boomers surveyed say they want a larger home for retirement, the poll finds. However, more baby boomers say they don’t have any plans to move after they retire. Source: The Associated Press
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