Baby Boomers: Controllers Of Real Estate Future

When it comes to real estate, baby boomers, comprising the largest population group

in America with over 78 million people ranging in age from 42 to 60, dominate the market. We may be surprised to know that of these 78 million baby boomers, nearly half of them are in their 40s, approaching retirement. Even in the tail end of a downward-spiraling economy, nearly 8 million retirees plan to purchase additional real estate in the next year. With the predominance of these baby boomers at younger ages, these young-not-only-at-heart retirees are looking elsewhere than the typical Florida setting to cool their heels; many are looking to Tennessee as a destination for purchasing a second home for retirement.

Purchasing a home for retirement is a big investment and an important decision to make. After spending countless years saving money for the light at the end of the work tunnel known as retirement, retirees must carefully choose an area that suits their needs and desires for retirement. Among the top valued features for retirement living, 38% valued a lower cost of living, 38% required quality health care, 37% yearned for a better climate and 36% preferred to be near a body of water.

Retirement communities in Tennessee like Fairvue Plantation in Nashville and Tennessee National in Knoxville boast all features sought after by retirees. With no state income tax, property owners in Tennessee can save a nickel and a dime during retirement. Many of the mid-sized cities with retirement destinations in Tennessee have high regarded medical facilities. These areas also have the dual nature of being near both a body of water and a mountain range, providing a wide variety of recreational activities. Tennessees mild 4 season climate allows residents of this southeast state to take advantage of the great outdoors with places for fishing, hiking, boating and golfing. In addition to the requested offerings of Tennessee, retirees might find the educational opportunities and cultural happenings, like dance, music and cuisine, appealing.

Considering all it has to offer, Tennessee seems like an ideal choice for the retirement of baby boomers. Gone are the days of retirement consisting of a humdrum lifestyle. Today baby boomer retirees are younger than ever and still have booming everyday lives.

by: Nadine DeNinno

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