TEXAS REAL ESTATE & THE ELDERLY
Between 2011 and 2029 the largest elderly population in the United States will consist of Baby Boomers. Compared to previous generations, they are the most educated and successful in U.S. history. Of the 70 million Baby Boomers born between the years 1946 and 1964, about 65 million survived. What this means to the housing market is that many empty nesters will be downsizing or moving in with their children. Some will go to assisted living homes or nursing facilities. Active Senior Citizens will be in search of a 55+ Community and many will flea colder climates in favor of warmer locations by the ocean, beach or golf course.
Important features that seniors will be looking for include state of the Art Medical Facilities with a wide range of specialties, including cultural and educational institutions that include Art, Museums, Botanical Gardens, Libraries, Theaters, Colleges, and Universities. Being in close proximity to public transportation is desirable.
Compared to other states, Texas is considered a younger state with 10.3 percent of its population 65 years or older in 2010 compared to 13% for the nation. However, the recession in recent years had a significant impact on many senior retirement plans which has caused fewer financial resources than of previous generation of seniors from the WWII era. Multi-generation families are trying to find larger homes to accommodate caring for the elderly who are not sick and continue to remain active and healthy. Seniors like to travel and enjoy being entertained.
SENIORS IN FLOWER MOUND
Residents of Flower Mound, age 50 years or older remain very active in local government, education, Athletic Facilities, Golf, Tennis, and they volunteer at local hospitals and schools. Seniors In Motion of Flower Mound is an organization where seniors can contribute to their Town and remain active in the lives of the people within the community. There are opportunities for personal growth for all ages. A new Senior Center was implemented recently located near Texas Presbyterian Hospital at 2701 Windsor Drive.
Many of the older homes, originally owned by seniors within the community have been sold to first time home buyers or investors. A large group of seniors moved to smaller apartments and kept their older properties as rental properties for supplemental income.
Since many Baby Boomers remain in excellent health, the recent trend is many are moving out of their big homes and moving into Lakeside Development where new homes are selling for $600,000 or more and up to a million or more for condominiums with lake views of Lake Grapevine. The Developer is still building. The new Movie Theater should be opening soon along with many quaint shops in walking distance to homes. The growth of Flower Mound continues to progress because of its location and reputation for quality homes
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