It is estimated one in five baby boomers - or 15 million Americans - will relocate upon retirement to a more desirable home. What a smart real estate investor should be thinking, is where are they going to relocate to and what style of housing are they going to be buying. And what I would be aiming to do is buy real estate investments in their target areas. The Baby Boomers are going to be cashed up with a life time of savings to spend in their pending retirement. But they will not be heading to the coast of Florida if any of the other states have anything to say about it. Florida is losing ground to states like Texas, which have launched aggressive marketing campaigns to lure retirees. Other factors influencing retirees' relocation choices include: Affordability of real estate. Markets such as Texas that have not seen the hyper-inflation that most of Florida experienced in recent years will actually benefit. Costa Rica is now being opened up as the next affordable paradise to live in. The seaside ground swell will fuel markets like this one. Proximity to universities and/or colleges. Retirees are no longer content to simply golf and lounge. Instead, many are seeking out continuing-education opportunities. Cultural activities. Relocating boomers also want to be within easy driving distance of museums, live music, shopping, and other distinctly cosmopolitan attractions. The cafe strip is becoming increasingly popular for people to spend their leisure time. Retirement villages for people who are still active are becoming increasingly popular. Investors can hold several properties in this village. Key infrastructure will be the secret. Older people will want all the services with out the travel and traffic problems. Investors who purchase real estate in these areas that will attract the Boomers will make a fortune when others are struggling. It is all about different strategies to suit the needs of the buyers. |
