{"id":13047,"date":"2015-05-04T12:45:43","date_gmt":"2015-05-04T16:45:43","guid":{"rendered":"https:\/\/bhgrealestateblog.com\/?p=13047"},"modified":"2024-12-30T11:07:45","modified_gmt":"2024-12-30T16:07:45","slug":"the-empty-nest-a-place-a-state-of-mind-and-an-opportunity","status":"publish","type":"post","link":"https:\/\/bhgrecareer.com\/bebetterblog\/the-empty-nest-a-place-a-state-of-mind-and-an-opportunity\/","title":{"rendered":"The Empty Nest: A Place, a State of Mind \u2014 and an Opportunity"},"content":{"rendered":"

Ah, the empty nest \u2014 that tranquil, far-off place harried parents dream about. An idyllic state where the kids are grown and on their own, couples reacquaint, and long-deferred leisure fills hours once claimed by domestic obligation.<\/p>\n

Whether or not reality fulfills those dreamy expectations, the empty nest is a new reality for millions of Baby Boomers each year. And more than a state of being, it\u2019s also a physical place of sticks and bricks \u2014 and that\u2019s where we come in.<\/p>\n

As Better Homes and Gardens\u00ae Real Estate reported following a 2014 national survey<\/a>, 57 percent of Boomers say they plan to move from their current home. Their reasons, as diverse as this generation is large, include downsizing; cutting back on maintenance; being near recreation, family, or jobs; and finally buying their dream home. Many in this middle-age-and-older cohort \u2014 the youngest Boomers are at least 50 and the oldest turn 69 this year \u2014 will have ample means to follow their hearts. In fact, many do, as a report<\/a> from the Demand Institute found that those who plan to move and downsize are actually upsizers, preferring smaller homes but with luxury features or high-end amenities, which reflects the considerable size of their savings. Collectively, they stand to receive the greatest inheritance in history, with estimates valuing the haul at $10 trillion to $15 trillion.<\/p>\n

(For those who don\u2019t easily relate to numbers that size \u2014 and that\u2019s probably most of us \u2014 $15 trillion exceeds the combined gross domestic product of Japan, France, Germany, and the United Kingdom.)<\/p>\n

You know this generation, even if you\u2019re not a member. It\u2019s the most studied and most catered-to demographic in world history, not only because it\u2019s big, but because it does just about everything in a big way. In the graphic below, we\u2019ve assembled some insights into how its members are aging.<\/p>\n

Meet the empty-nester<\/strong><\/h3>\n

\"EmptySeventy-two percent of empty-nesters already have grandchildren (they are<\/em> getting older, aren\u2019t they?). They value their free time, and 53 percent say they have plenty of it. That number will surely rise as more retire \u2014 as they\u2019re doing it at a rate of about 10,000 a day.<\/p>\n

Getting away is important to this group, 56 percent saying they plan to take a vacation within six months. And while they may call it vacation, many of these Boomers take their time away pretty seriously \u2014 nearly a third (31 percent) identifying travel as a true hobby.<\/p>\n

Thirty-six percent of these folks see themselves living near family ten years from now. If the figure seems low, it probably reflects an expectation that their children will follow a trend established firmly during the Baby Boomer\u2019s prime working years \u2014 following their career dreams across the miles and time zones.<\/p>\n

Homeownership has always been an important part of their lives. Raised amid the postwar housing explosion that forever changed the face of America, they take pride in their homes and communities. Home remodeling, improvements, and landscaping rank high among their priorities, says geographic information systems company Esri<\/a>. Although they are not quite ready to move into assisted-living facilities just yet, having a sense of community is still important to this age group. Whether it is lending neighbors a helping hand or donating to a good cause,<\/a> baby boomers are generous with their time and money, giving more than $47 billion<\/a> to charities and relief organizations each year.<\/p>\n

As they plan their retirement moves, they may look into downsizing by gifting treasured possessions to family members or donating unused items to local groups that make a difference in their community. However, this group\u2019s next move is not looking to retreat to the traditional senior havens in Florida and Arizona. Forty-three percent told us they want to live near potential employers as they pursue \u201cencore careers<\/a>\u201d that capitalize on their skills and experiences and reflect today\u2019s longer life spans. That\u2019s not far behind those who want to live near parkland (48 percent) or near an ocean or other body of water (51 percent).<\/p>\n

Raised on big aspirations and many flush with the cash to make them reality, this large and active generation is embracing the future in ways that spell opportunity for real estate professionals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ah, the empty nest \u2014 that tranquil, far-off place harried parents dream about. An idyllic state where the kids are grown and on their own, couples reacquaint, and long-deferred leisure fills hours once claimed by domestic obligation. 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