Are Baby Boomers Downsizing?
Research shows that there are absolutely more baby boomers looking to downsize in the next coming years.
If you are approaching, or within the age of 55 - 65+, you may be one of the many people pondering the benefits of downsizing or even just relocating. According to a 2016 survey by Freddie Mac, one in five baby boomers plan to sell their home and rent a new one.
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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 DCI Properties owner, Ryan DeLaurentis
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 DCI Properties, 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 DCI Properties, told us “We own a second home in Vancouver and downsizing gives us the financial flexibility to be gone for months at a time if we want.”
The DCI Properties Difference
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.
DCI Properties provides 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.
55+ Homeowners Plans for 2020
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WHAT OUR CLIENTS SAY
Reviews from those we’ve helped
“I had inherited a home. Was overwhelmed by everything that needed to be done. Ryan and Courtenay were respectful and understanding. Gave fair market value for a quick no hassle sale.”
– Scott Conine
“They were amazing to work with. Kept in contact, answered all questions and made sure I was well informed. Would recommend them 100%! They even went out of their way for my dog. Extremely Happy Customer. Thank you for the surprise after close”
– L Carrol
“From our first visit together, they took as much time as needed to address all my concerns and steps to the sale & the moving out of my home. They were very approachable, accessible & personal. Any concerns I had, they found solutions to & made sure I was completely satisfied before moving forward. I know this was the right thing to do, and Ryan & Courtenay made it a positive experience. I would highly recommend their expertise and caring support to address your situation. Thank you again for your caring personalities.”
“Our real estate experience was full of challenges. We were listing my mother in laws house a short time after she passed away. We listed the house on Kijiji but were concerned about our lack of knowledge when it came to private sales. Thank goodness Ryan and Courtenay were one of the first people to respond to our ad. They hoped for a quick close but due to some hurdles and challenges on our end, we were unsure if that was possible. Because of their empathy, professional standards and understanding, we were able to close the deal in a very timely manner with very little stress. Thank you both for making our experience so much easier. We highly recommend Ryan and Courtenay.”
– Heather & Scott