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In today's marketplace, people don't just purchase one home in their lifetime. They are buying several homes over the years, trading one for another at different points in their lives. As a college graduate, you moved into your first home, usually an apartment or condo. As a young married couple, you moved into a starter home. As your family grew, you moved into a large, sprawling house in the suburbs. Now that the kids have all left for college, careers, and lives on their own, what are you going to do with all of that space? Many baby boomers are faced with this question every day. In some cases, it may not be the space that's the concern. It may be location, amenities, or even proximity that creates a desire to choose a new home. Today's baby boomers are quickly moving into one of the top positions for buying and selling real estate. According to a report put out by the Research Institute for Housing America, 87.2 percent of all retirement age households are homeowners. And with this high percentage of people owning homes comes the power of being able to use some of their growing equity to change houses, and buy something that suits their lifestyle at this point in their lives. The choice of a new home is made entirely on new desires and changes that occur at this new phase in life. Just like other phases of life, a baby boomer sets out to find a home that is complementary to his or her lifestyle. Because more baby boomers will be out looking for a new home in the future, here are some tips to give your home the edge. 1. Showcase your location. Baby boomers want different things in retirement. If you own a one acre property in the country, list your house as a way of simplifying your life. If you live in the heart of a major metropolis, list your house as a great way to be close to the best of the city, including restaurants, museums and other cultural events. 2. Target the proper market when trying to sell your home. This is especially true for people in condos and high-rise living. High rises attract a variety of people, from young urbanites wanting to be close to the action, to empty nesters wanting a simpler lifestyle close to amenities and without the normal requirements of single family homes. Where you need to be careful is in what the overall theme is of the high rise. If it's mainly a younger crowd, with parties and a variety of socializing activities, it may not be a perfect match for an empty nester. Sharing this information with a potential buyer can help sell your place faster because of your honesty in reaching the perfect homeowner. 3. Create a home with low maintenance features. Baby boomers are looking to trade in traditional home and garden work for more free time pursuing their passions. But they don't want to sacrifice space or give up their treasured belongings to do it. While many opt for condo or townhome living, others have decided to stay with single family homes or with patio homes, to allow them some freedom from living so close to neighbors, and still have the option of outdoor living space. 4. Reevaluate your own community. If you've been in your neighborhood for years, love the location, and enjoy your neighbors, maybe your move is down the street instead of to a new location. Watch for ranch homes or multi level homes with good configurations in your neighborhood to go up for sale. Then spend the time redesigning the home to meet your needs. Add main level master suites, gourmet kitchen, and outside living space to give your new home an updated feel. Because you don’t have to worry about kids living at home, splurge on some of the extras, such as spas. 5. Convert high maintenance items into low maintenance, usable features. One of the top reasons empty nesters move out of their suburban home is lawn care and outside maintenance. Take away some of the maintenance by installing outdoor rooms. With patios, garden options, and outdoor kitchens, many options are available to add that extra touch – and create entertainment options like never before.
Article Source: http://www.financemanual.com
Cellini is an experienced real estate professional helping you find a home in the Denver, Colorado market. She has lived and worked in Denver for over 12 years, and specializes in helping families and empty nesters find a home in one of Denver's top historic neighborhoods. finehomesdenver.com
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