Baby Boomers Renovating Homes vs. Selling

A recent AARP study revealed that 8 in 10 Baby Boomers want to stay put! In fact, Boomers said they like what their communities offer, enjoy being near friends and family, and appreciate access to shopping, social opportunities and healthcare. They have no plans or interest in moving.

Another highlight from the study says that eight in ten Boomers and almost nine in ten Americans over 65 have homes with at least two key elements: 1) a full bath on the main level of their home, and 2) a bedroom or a room on the main floor that could become a bedroom.

So what does this mean, exactly?

Kimberly Smith of CorporateHousingbyOwner.com says it means more Boomers might be willing to invest in renovating their houses over moving.

“In the past people would consider moving or downsizing, now they’re simply considering how to adapt their homes to meet their new needs as they age,” she says.

She also says it means more Boomers might hang on to their long-time homes and then buy second homes in other states.

“Snow birds often keep their homes intact, rent it out part of the year and then live in another state the rest of the year,” she says.

Are you renovating your home to meet your evolving needs? Please share with us your story!

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