One In Four Boomers Plan Move

From National Association of Builders

November 25, 2008 - One in four baby boom generation households (26%) expects to move from their current home in the future, with the majority looking for a single-level home that is more comfortable or convenient, according to a new survey prepared for AARP.

Echoing past surveys, most boomers (79%) say they would like to stay in their current home for as long as possible. Some – less than 10% -- said they would like to stay in their current home but don’t think they will be able to do so.

Many of those who expect to move said they will be looking for a better house, a better climate or a home that is closer to family and friends. More than half of those boomers (age 45-64) planning to move expect to look for a home that’s all on one level (59%). About half said they will look for a newer home (50%) or a smaller home (49%).

Older boomers are significantly more likely than younger boomers to think that they will move into a single level home (68% vs. 54% of those planning to move), but age is not the only factor that affects expectations. Boomer men are more likely than women to believe they will move into a newer home (61% vs. 42%) or move into a home in a warmer or better climate (41% vs. 25%).