What is Important to Boomers when Selling their House?



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.

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The North Carolina Real Estate Commission requires brokers to present a Working With Real Estate Agents brochure for review by all parties. You can access that brochure through the following link: www.ncrec.gov/Brochures/WorkingwAgents.pdf  

InLighten Realty Group at eXp Realty, LLC., 10130 Perimeter Pkwy, Charlotte, NC 28216. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) program of Carolina MLS. Real estate listings held by brokerage firms other than eXp Realty LLC may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.