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A new edition every month! August 2014 Electronic Real Estate Newsletter
What Boomers Really Think About Becoming "Empty Nesters"
Things To Consider Before You Buy That Vacation Home
How To Deal With Difficult Neighbors
Move Yourself Or Hire A Professional?
Prepare Your Home For Showing In Under 10 Minutes!
Keep Your Late Summer Bloomers Looking Fresh
Is An Energy Efficient Mortgage For You?
End Of Summer Deals Bring Out Bargain Shoppers
Real News
  The Survey Says
 
 

What Boomers Really Think About Becoming "Empty-Nesters"
America's Baby Boomers - the 76 million people born between 1946 and 1964 who are now 40-58 years old - were recently polled on their feelings about becoming Empty Nesters and its impact on their retirement plans.

Conducted this past spring, the Del Webb Baby Boomer Survey reveals Boomers are embracing the idea of Empty Nesting, the stage in life when children move out of their parent's home.

The survey found the following:

  • 71% say parenting was a wonderful experience, but it wasn't easy; roughly 19% admit it was more challenging than they expected.
  • 58% are emotionally prepared for the kids to leave the house.
  • 26% felt "like a newlywed once again" after the kids left home for good.
  • 36% will move to a new home when they become Empty Nesters.
  • 26% are considering purchasing a home in an age-qualified active adult community.
  • 25% expect their adult children to move back in with them at some point; but 28% plan to make those children pay rent.
  • 31% had no debt associated with their children when the kids left home.
  • Disposable income increased for 67% of Boomers after they became Empty Nesters; 60% plan to save the new-found wealth, and about half plan to spend it traveling.

"Many Boomers think they are going to be very upset, but when it happens they are very much relieved when their children leave home," says Linda Burghardt, author of The Happy Empty Nest. "They know they have done a good job in parenting and now they can get their own lives back. Members of the Baby Boomer generation have very high expectations for the Empty Nest."

And although Boomers like the idea of the Empty Nest, their "alone time" may not last long. Of Boomers polled, 25% anticipate their adult children will move back in with them, while 15% have grown children who already returned to the nest. Called "boomerang kids," this is a growing social phenomenon. In fact, today more than 25% of Americans ages 18-34 live with their parents, according to U.S. Census figures. For 18-24-year-olds, 56% of men and 43% of women live with one or both parents. These numbers may increase too. According to a job search Web site, 62% of college students say they expect to live at home after graduation.

On the subject of "boomeranging," results of the Del Webb survey show the following among Boomers:

  • 65% would be "happy" to help if their grown kids needed to move back in.
  • Almost one-fourth (23%) would feel "obligated" to help.
  • Of parents eager to find other living arrangements for their adult children, fathers (33%) were more likely to do so than mothers (14%).

In addition to their grown kids, many Boomers will have to deal with their own aging parents who may need assistance and decide to move in with them. The survey found:

  • 24% of Boomers anticipate that their parents or in-laws will move in with them.
  • About one-half say they would be happy to have their parents or in-laws move in.
  • 51% say they would feel obligated to help.
  • 17% would be "eager" to find their parents or in-laws another living arrangement.
  • 8% of Boomers would charge their parents rent.
 
 
 
 Second-Home Smarts
 

Things To Consider Before You Buy That Vacation Home
Year after year, your family has rented the same charming cottage on the beach. You've gotten to know the area, the tried-and-true restaurants, and the local ice cream shop. It's no wonder you're thinking of buying a place to call your own. Before you take the plunge, you'll want to consider these practical issues:

  1. Financing: Even with interest rates still at historically low levels, a mortgage on a second home may be harder to obtain - and its rates higher - than the mortgage on your primary residence.
  2. Insurance: Many vacation homeowners are paying increasingly higher insurance rates as more people buy properties in high-risk areas and insurance companies try to recoup billions of dollars paid out for storm damages.
  3. Furnishings and amenities: Chances are you'll have to furnish your new home, and, if you plan to rent your property, you should also consider "must-haves" such as TVs, VCR/DVD player and kid-friendly items, including video games, pool toys, etc
  4. Maintenance: What happens if the refrigerator dies or a family of hornets decides to build a nest under the deck and you're a thousand miles away? Consider hiring a management company to take care of your property when you're not there.
  5. Safety: If you plan to rent your property, consider installing safety features to attract families with particular needs. (For instance, families with small children will appreciate safety gates and cabinet latches.) It's also a good idea to keep written instructions posted near grills and other items that might pose a safety risk to renters.
 
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What Boomers Really Think About Becoming "Empty Nesters"
Things To Consider Before You Buy That Vacation Home
How To Deal With Difficult Neighbors
Move Yourself Or Hire A Professional?
Prepare Your Home For Showing In Under 10 Minutes!
Keep Your Late Summer Bloomers Looking Fresh
Is An Energy Efficient Mortgage For You?
End Of Summer Deals Bring Out Bargain Shoppers

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