In today’s Orange County Real Estate market more people are buying homes than in years past including Baby Boomers. Although buying a home in the past after the age of 65 was something that most people wouldn’t do, today there are more people who are between the ages of 46 and 67 who are buying homes in Orange County due to the current market conditions.
Why It Makes Sense
Let’s face it, rents in Orange County are high and for the Baby Boomer who can afford to buy a home it just makes more sense to buy a home rather than to continue renting and not get any return on the money that you are paying for rent every month.
Home Values Are Increasing
Although house flipping isn’t something that most Realtors encourage with rising home values in Orange County more Baby Boomers are buying homes because they know that they can easily fix up or even sell and enjoy a profit on their investment should the need for immediate cash arise. That can be better than investing in other traditional markets like stocks, bonds or mutual funds since it’s an investment that can be physically enjoyed. Although these are two very different types of investments, many choose it since you are paying for a roof over your head anyways.
Returning To The Real Estate Market
Many Baby Boomers who are buying homes right now are also home buyers who are returning to the Real Estate market after they lost their homes due to a short sale following the collapse of the Real Estate market in 2008.
For Baby Boomers home ownership is still a part of the American dream and their desire to own a home is as strong as it was during any time in their lives.
Baby Boomers Are Living Longer
The age of Baby Boomers these days is classified to be between 46 and 67 years but the reality is that people are living longer, and continuing to work later in life these days than they were 30 years ago, so in reality it’s possible for a Baby Boomer to live in the home that they purchased for 10 years or longer and get a great return on their investment when they do sell or leave something behind for their families.
To learn more about the latest Real Estate News, or to view Orange County Homes For Sale, contact Fred Sed & Associates today by calling us at (949) 272-0125.