Do you remember watching the old sitcom “Green Acres,” which offered a comical look at a couple who moves from New York City to a farm in the country, much to distress of the wife, played by Eva Gabor. The city life washer cup of tea.
Today’s statistics side with Gabor. From 2014 to 2017, the percentage of homebuyers in their 50s buying condos in the urban core jumped from 11 to 13 percent, according to a National Association of Realtors report. Although that percentage doesn’t seem significant, with more than 76 million Baby Boomers in the U.S. even a marginal percentage increase makes a big difference.
As more and more people sell their family home in the suburbs to move to a smaller dwelling, usually closer to the city, those numbers will only continue to grow.
“I see it a lot,” said Robert Esposito, owner of Relocators. “They are fulfilling a dream they didn’t get to when they were younger. They feel more alive, and have the money now to afford less space closer to the city.”
The reasons for moving are just what you’d expect, according to a recent study by Zipcar, which found:
• 84 percent of urban boomers enjoy being active
• 90 percent want to enhance their cultural experiences
• 87 percent are attracted to the city for the shorter commute to
work, as only 32 percent are retired
• 55 percent believe their life is more exciting in the city
• 61 percent feel closer to their significant other
• 37 percent are having more fun than they did in their 20s
If moving closer to the city is beginning to sound good to you, give us a call. We are here to help.
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