I am a baby boomer. A YOUNG baby boomer. But just old enough to start to THINK about what's next. I have many clients who are also entering this next phase...
The BIG question on everyone's mind is:
WHAT DO WE DO NOW?
So, the kids are gone, and on their way in the world. Some are married and some even have kids now of their own. It's time to dump the big house.
What do we really need? How much space? A large living space with a great room and nice eating area, a breakfast nook or bar, a nice master bedroom, an office or den, and a guest room (or two).
2200 sq ft would be GREAT, but we can get along with 1600 if we have to. 1200 is really too small, but in California, more the norm.
What else do you want? A central clubhouse with pools and spa and activities would be great! A place to make new friends, socialize, and exercise with people your own age would be great too!
So, where ARE these places?
There are many 55+ communities around, but as I can tell, not nearly enough for the HUGE Boomer generation that is soon to need them.
Personally, I own in Indio, Ca. I cannot live there full time yet, as I am still a hard working agent! But, the day will come when I can, if I live long enough!
This is a wonderful place, built by the Del Webb community builders. It has everything and then some. The PERFECT place to retire. The activity list is endless. Much too hot in the summer months though...a REAL negative!
Unfortunately, is isn't in the city where I currently live. (Newport Beach) It is 2 hours away from where my children and their future children will live. They are all in San Diego. There isn't a Del Webb there, and if it were there, it would be twice the price. My home in the desert IS 2200 sq ft, and remodeled. It is also rented most of the time, so I can't enjoy it much right now. But at least I have answered THE question for now.
So, where are all the Baby Boomers in San Diego going to go? There are one or two communities, but the prices are well above $800,000! Most of my Baby Boomer clients will NOT want to pay that much for their retirment home, if they want to have cash on hand. I'd rather live there too, but where? How?
Is there going to be a big migration to the desert cities in the next 10 years?
Will they start building more 55+ active senior communities like crazy?
I am watching closely what Del Webb and 55+ builders do next to address this.
I NEVER thought I would WANT to live in a 55+ community. I have looked at them and turned my nose up at them throughout the years. But now, as I get closer to the retirement age, I can see many benefits to living in such a community over living in a condo without that support and comradery. It's a lonely existance I think. Boring and lonely. I never thought that before, but now I do.
Funny how we change our ideas as we age.