Welcome to your golden years!
You’ve lived a pretty full life so far whether it was filled with a strong career, raising a family, or traveling the world, now it’s time to relax. One of the nicer things about entering into the golden years is the ability to downsize. According to realtor.com, people aged 65 to 74 will make up the third largest home buying population in 2016. Due to this, 10 markets that are expected to thrive for retirees buying in 2016 along with the kind of budget needed since many are working with a fixed income. Check out the picks below!
Boston, MA: Median Household Income: $56,066; Maximum Affordable Home Price: $235,952
Sacramento, CA: Media Household Income: $54,929; Maximum Affordable Home Price: $252,359
San Diego, CA: Media Household Income: $58,535; Maximum Affordable Home Price: $262,073
Sarasota, FL: Median Household Income: $52,792; Maximum Affordable Home Price: $228,825
Fort Meyers, FL: Median Household Income: $53,255; Maximum Affordable Home Price: $233,047
St. Louis, MO: Median Household Income: $47,647; Maximum Affordable Home Price: $207,189
Virginia Beach, VA: Median Household Income: $56,760; Maximum Affordable Home Price: $259,780
Tucson, AZ: Median Household Income: $49,718; Maximum Affordable Home Price: $230,802
Atlanta, GA: Median Household Income: $49,178; Maximum Affordable Home Price: $222,902
Knoxville, TN: Median Household Income: $42,512; Maximum Affordable Home Price: $199,900
With most retirees already being homeowners, they’ll have a double whammy of buying and selling their homes. Lucky enough, retirees have an advantage over first time homebuyers since growing wiser over the years has allowed you to know exactly what kind of home you’re looking to purchase.
