What Is Important To Boomers When Selling Their House

Dated: 06/10/2019

Views: 13

What is Important to Boomers when Selling their House?

What is Important to Boomers when Selling their House? | MyKCM

If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Your children may have finally moved out. Your large, four-bedroom house with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. You may be ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering.

The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to72). Here are a few of the more interesting topics.

Percentage of Buyers who Looked Online First

  • All Buyers: 44%

  • Younger Boomers: 46%

  • Older Boomers: 44%

Where Boomers Found the Home They Purchased

The two major ways buyers found the home they purchased:

  • All buyers: 50% on the internet, 28% through a real estate agent

  • Younger Boomers: 46% on the internet, 33% through a real estate agent

  • Older Boomers: 36% on the internet, 35% through a real estate agent

Distance Seller Moved

The distance between the home they purchased and the home they recently sold was much greater for boomers than the average seller.

  • All sellers: 20 miles

  • Younger Boomers: 27 miles

  • Older Boomers: 50 miles

Tenure in Previous Home of Seller

The percentage of older boomers who lived in their previous home for more than 20 years was almost twice the amount of the average seller.

  • All sellers: 16%

  • Younger Boomers: 20%

  • Older Boomers: 31%

Primary Reason to Sell their Previous Home

  • Want to move closer to friends or family

  • Home too large

  • Retirement

View of Homeownership as a Financial Investment

  • 83% of Younger Boomers see homeownership as a good investment

  • 82% of Older Boomers see homeownership as a good investment

Bottom Line

If you are a boomer and thinking about selling, now might be the time to contact an agent to help determine your options.

Blog author image

Matthew Hoagland

My name is Matthew Hoagland, Team Leader of The Hoagland Real Estate Group of RE/MAX Premier Properties. I would like to thank you for considering our services in your search for a new home, listing y....

Latest Blog Posts

Louisville Open Houses October 18 20

#OPENHOUSELOUISVILLEHere is a list of all Open Houses from the MLS this weekend. Be sure to consult with your Realtor if these homes are actually OPEN this weekend, or, CALL ME if you do not

Read More

ExistingHome Sales Report Indicates Now Is A Great Time To Sell

Existing-Home Sales Report Indicates Now Is a Great Time to SellThe best time to sell anything is when demand for that item is high and the supply of that item is limited. The latest Existing

Read More

What You Need To Know About The Mortgage Process

What You Need to Know About the Mortgage Process Some Highlights: Many buyers are purchasing homes with down payments as little as 3%. You may already qualify for a loan, even if you’

Read More

You Need More Than A Guide You Need A Sherpa

You Need More Than a Guide. You Need a Sherpa.In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate the process. You need someone

Read More