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Where Boomers Go When They Sell Their Forever Homes

Eventually, your parents may get sick of winterizing the deck. As the 75+ population grows rapidly and lives longer than ever before, some are opting to move on from their 4-bed, 2.5-bath home. But doing so could mean ditching a paid-off mortgage for something smaller—and much more expensive.

Baby boomers with no kids at home owned twice as many 3+ bedroom homes as millennials with kids, according to a Redfin survey published in 2024. Most of them purchased those homes decades ago, when they cost roughly whatever change could be found rattling around in the ’69 Pontiac Grand Prix.

Don’t call it a retirement home

But some older adults are willing to pursue new digs if it means migrating to a community tailored to the 55+ crowd:

Seniors flush with cash are heading south to communities like Sun City in Georgetown, TX, where golf carts are plentiful and income taxes are nonexistent for those 65 or older.
Per the Wall Street Journal, there are roughly two dozen Sun City communities in the US, mainly in the South and West. Developer PulteGroup said last year that the “active adult” market is one of its biggest revenue drivers.

Looking ahead…developers are foaming at the mouth to cash in on building homes for this wave of seniors. Even some universities, cash-strapped in the wake of declining enrollment, are converting parts of their campuses into senior living and offering courses for both undergrads and their grandparents to take together.—MM

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Where Boomers Go When They Sell Their Forever Homes

Don’t call it a retirement home

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