Baby Boomers Still Fueling Florida Real Estate Options- By: Rob Thomson
Whether it is buying a second home or acting on the long-planned dream of retiring to a sun destination, Baby Boomers are moving to Florida to take advantage of a well-deserved rest from the corporate world, or other nine-to-five path they had been on. The current excess of properties at reduced prices in Florida provides a perfect opportunity for new retirees to purchase a home and join the fun in an active community.
Of course, the old adage "location, location, location" still applies when purchasing a retirement property in Florida. Baby Boomers are at an age where they can take advantage of activities such as golf, water sports, biking and other outdoor adventures. The life span for healthy Baby Boomers will allow them to still be celebrating birthdays long into their 80s or 90s. However, aging also means needing easy access to medical facilities, which is part of their decision making when purchasing homes in Florida.
As one of the largest demographics in the country at roughly 28%, or 74 million adults born between 1946 and 1964, Baby Boomers were part of the "me generation" and had access to a plentiful job market and a good economy in the 1980s. This allowed people to get into their first home and they took advantage of the rise in real estate. Many people succeeded in putting away funds for retirement and are now reaping the benefits of good planning. Being able to sell their home at a significant profit has further allowed Baby Boomers to purchase their retirement residence in the destination of their choice.
You know a topic is current when there is a conference promoting the subject, like the 2010 Florida Boomer Lifestyle Conference. This event highlights the state's lifestyle offerings and shines a light on how vibrant this generation is today, and how it will be in the years to come. As the saying goes, "60 is the new 40." Baby Boomers are taking advantage of all that life has to offer, from education to travel to starting their own businesses. Buying a home in a sun destination is just one piece of their retirement plan.
Many promotional pieces show images of couples enjoying retirement activities, but there are also many single men and women who, after years of marriage, are living the single life and enjoying every minute. These people are Baby Boomers who are also looking into purchasing homes in retirement communities, where they can join in on activities with other adults, either singles or couples.
Information options for Boomers wanting to retire in Florida include a number of books and websites devoted to the topic. In the spring of 2004, a Baby Boomer survey was conducted and it noted that 55 percent of boomers would move when they retire. They plan to purchase a home in an Active Adult Community, and Florida is an ideal choice with its sunny climate and plethora of activities for men and women. Recently, a retirement-based website stated that six Florida cities made the list for 20 Most Affordable and Best Places to Retire.
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