Huron River by Sam, permission grantedThe nation’s 78 million baby boomers have diverse plans and timelines for their retirement years, resulting in different housing requirements and significant shifts from patterns established by earlier generations, according to a study by the National Association of REALTORS®. The differences from past generations — and between baby boomers themselves — will have a significant impact on housing needs over the next ten to twenty years that is very different from other generations.

 

A recent study by Harris Interactive found that a significant portion of baby boomers married later in life and had children at a later age, which means many will continue to work beyond the traditional retirement age. The median age at which baby boomers expect to stop working is 70, but 27 percent say they never intent to stop working.

 

Given a longer tenure in the work force, baby boomers may choose a larger home than earlier generations. Boomers may want or need a somewhat larger dwelling that includes at least one home office, and a low-maintenance home on a single level would have broad appeal to this group.

 

Many boomers may choose to retire in Ann Arbor after recent findings that rank this area high on several lists:

 

• Ann Arbor ranks 5th in the category, “Top 5 Places to Retire” by Good Morning America (2005).

 

• Ann Arbor ranks 1st in the category “Best Place to Live in Michigan” by CNNMoney.com (2006).

 

• Ann Arbor ranks 25th in the category “Best Place to Live in the U.S.” by CNNMoney.com (2006).

 

The Internet will play a large role for these boomers. A recent study shows that the number of buyers searching for a home online has increased from 2 percent to nearly 80 percent. In comparative terms, that is a 4,000 percent growth in only a decade.

 

If you are searching for a home in Ann Arbor with it being a great place to live and retire. Begin your search here.