It’s no secret that Asheville is a popular destination for baby boomers looking for a big change after retirement. Add to that the population of boomers already in the city ready to transition to the next phase of their lives. It certainly feels like our city is prime for older adults. But Baby Boomers are looking for very different things in a new home than their millennial or GenX counterparts. So what are they really looking for right here in Asheville? Here is some of the insight we’ve gained over the years of working with this generation to buy new homes in our city.
Buying a Primary Residence or a Second Home
Baby Boomers have worked all their lives and deserve the hard-fought reward of retirement. But depending on your personal situation and circumstances, you can choose what that looks like.
Maybe you’re looking to change your life completely. You can move from anywhere else in the country to the Asheville area to transition to a different pace of life and surround yourself with a welcoming community. Or maybe you’re in a position to purchase a second home so you can have summers and winters in different places around the country. Asheville is the place where either of those are possible.
Before you make this decision, consider the financial impact of your decision. We recommend speaking to a mortgage expert like GoPrime Mortgage, Inc. ., before moving forward with your decision.
Planning for Aging in Place
Another aspect Boomers need to keep in mind is the need to prepare for aging in place. That may impact the choice of homes so you can prepare for your future. Even if you’re not in the position to need additional assistant or modifications now, you may want to select a home based on current features or the ability to adapt in the future.
There are resources for aging in place right here in Asheville:
• Council on Aging in Buncombe County
• Assisted Vacation
• Aging in Place Asheville
• Osher Life Long Learning Institute
Financial Priorities Have Changed
Remember the advice we were given for buying a home when we were just starting out? Use it to build equity. Buy something with good resale value. Get something in a good school district.
Property values are still considered one of the most sought after criteria when buying a home. But the truth is, your financial priorities have changed as you’ve aged and that’s not a bad thing. This may lead to more flexible options for you when buying a home here in the Asheville area.
Getting Involved in the Community
One of the primary values here at GoPrime Mortgage, Inc. . is community involvement. And we believe that Asheville is a better place because the people who live here want to contribute. Engagement as you age is important. Studies show that loneliness has a significant impact on health as we age, and the best way to counter that is to get involved. You can do this through a community organization, social groups, churches or other spiritual communities, or politics.
Talk to GoPrime Mortgage, Inc. . about some of our projects and partnerships in the community.
If you’re a Boomer looking to buy in the Asheville area, our team of mortgage experts can help you out. We look forward to hearing from you.
