Not all Baby Boomers are looking to downsize in retirement, Elizabeth Alterman reports for MarketWatch. A number are relocating to larger homes, or “upsizing,” to accommodate family or lifestyle choices.
In a survey by Del Webb of adults ages 50 and 60 who planned to move in the future, 43% would prefer their next home to be about the same size as their current home, while 22% would prefer a bigger home. Nearly a third of Gen-Xers who wanted more space said that they would want to accommodate their parents in their next home.
“People who choose to upsize in retirement often do so when relocating to a more climate-friendly area, such as Florida or Arizona,” says Cara Ameer, a real-estate agent with Coldwell Banker Vanguard Realty in Jacksonville, Fla. “Many times, they want to find their ‘dream home’ and feel it is time to make that happen. They don’t want to sacrifice on location, finishes, and, most importantly, a view.”
In certain instances, they leave modest houses in the suburbs to lavish apartments [in the city] to pursue a more active lifestyle. In others, they move from smaller apartments to bigger ones to accommodate grandchildren or other guests.
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