“Where do I see myself living when ___?” is actually a great question, but one that few individuals or couples gain proper perspective in answering.
From aging in place, to downsizing, to placement in a fitting care community, a comprehensive housing assessment is the starting point.
Yes, as we all know… just as with politics, and Tip O’neil’s famous mantra, “All politics is local”… so, with real estate, “All real estate is local”. Having said that, this article in US News and World Report is instructive in that it lays out 5 general factors that we can, and should, pay attention to when it comes to making any buying, selling, increasing or decreasing decisions relative to our own, local housing situation.
THE big key to be aware of in the housing arena in today’s economy is this: Housing will most likely FOLLOW, not lead, the rest of the economy out of a slump. It has become a ‘following indicator’, where in the past housing was a major part of economic expansion.
Last Sunday’s Seattle Times Real Estate Section put a spotlight on the area of Riverside Drive / Bothell, a fine berg just north of Seattle, touting it’s attraction as a “Seniorville”. This put me in mind of an important concept that I counsel Boomers and Beyonders on when the issue on the table is…
“Where’s the best place for us to live out our ‘final 1/3 of life’ with a high level of health and happiness”?
Only a small percentage of Americans move after they reach retirement age, according to demographic researchers, meaning most will “age in place” in neighborhoods where daily activities require frequent car trips. With rising life expectancies, America’s largest generation will also be the oldest ever. Inevitably, aging experts note, a large share
will find that their ability to navigate by vehicle diminishes or disappears over time. These millions of older adults will need affordable alternatives to driving in order to maintain their independence as long as possible. Read the full AARP report here…
A few years back, Seattle homeowner Bette Lalley and her adult daughter Darla Rude wanted to build a small house behind Lalley’s home so that the two could live nearby one another. Disappointed that the city didn’t allow construction of second homes on single-family lots in their neighborhood at that time, Lalley and Rude watched and waited. Then, in late 2009, the Seattle City Council adopted legislation allowing smaller second homes, so-called “backyard cottages,” to be built citywide. Read the rest of the article here….
WASHINGTON (AP) — Many baby boomers say they’re likely to stay put in retirement amid a shaky economy. Those who hope to buy a new place are looking for a smaller home somewhere with a better climate that’s more affordable and close to family, a new poll finds.
The 77 million-strong generation born between 1946 and 1964 is increasingly worried about retirement and their finances in light of the economic crisis of the past three years. Just 9 percent say they are strongly convinced they’ll be able to live comfortably when they retire, according to the Associated Press-LifeGoesStrong.com poll. Read the rest of this informative article here…