Are Baby Boomers Downsizing?

Here Are The Four Common Reasons Why Baby Boomers Are Downsizing:

1. Repairs, Maintenance and Damage….O My!

Many of our clients prolong the selling process because they are aware of the hassle that selling a home can be. That is until something goes wrong, such as a flooded basement or leaking roof. Not to mention the upkeep of lawns and landscaping. All of these inevitable home owning issues can be too stressful than the home is worth. Baby Boomers are realizing that it makes more sense to downsize into a property that is more low-key.

2. Baby Boomers and the City

The appetite for community and urbanity is strong for baby boomers looking to relocate. Cities offer cheaper housing options, more activities and a deeper sense of community. While downsizing may be unavoidable when moving to a tightly populated city, it can also offer a higher standard of living for some baby boomers.

“Many of our clients who are in or near retirement like the idea of downsizing and moving into the city, or closer to the city, and they know it will be less expensive than maintaining a large home,” says Elvis Buys Houses owner, Andy McFarland.

3. To Rent or Own? That is the Question.

The rent-or-own decision had become a common dilemma for baby boomers in recent years. It seems to make financial sense to rent because it eliminates high condo fees or having to pay for repairs. More and more baby boomers continue to sell their homes and move into apartments or town homes.

Linda Johnson, a former client of Elvis Buys Houses, has said “my husband and I opted to move into an apartment. We quickly discovered that the services provided and the freedom from maintenance alone was exactly what we needed.”

4. The Second Home

Another common reason we hear baby boomers looking to downsize is because they would like to own, or already own, a second home. Joyce Luther, another client of Enlight, told us “We own a second home in Italy and downsizing gives us the financial flexibility to be gone for months at a time if we want.”

The Elvis Buys HousesDifference

Whether it’s a financially savvy decision or simply the only solution, many baby boomers are choosing to downsize when it comes time to plan for retirement.

Elvis Buys Housesprovides the easiest and fastest solution for baby boomers to sell their house fast for cash. No repairs, maintenance or cleaning necessary. We know you have other things to look forward to then all the hassle and expense of selling a home.