This Empty Nester Trend May Surprise You

This might surprise you 🤯 

A lot of empty nesters are buying new homes, but they aren’t necessarily downsizing.

Did you know according to the National Association of Realtors, 70% of buyers in 2023 had no children at home? 

A lot of these are probably first time buyers with no children, but a lot of them are also buyers whose children have officially left the nest. 

Here’s where it gets interesting.

In my experience, I’m finding a lot of empty nesters are buying homes that are either bigger or the same size as their current home (aka NOT downsizing) and for good reasons:

💰A lot of empty nesters have built up so much equity, that even with the current interest rates, they can afford to buy something similar or even bigger, thanks to their larger down payment.

👨‍👩‍👧‍👦Just because their children no longer live at home doesn’t mean they never visit! Between their kids, kids’ spouses, and grandchild, they find that they still need enough space for family get togethers!

⛳️They may not have kids living at home, but they still have a life outside of their kids. They want a home that supports their lifestyle. My empty nester clients prioritize space for them to indulge in their hobbies, like a golf simulator room, a home library, a woodworking space, a cozy space to host book club or dinner parties, etc.

Don’t get me wrong, downsizing does have its perks. Owning a home that requires less maintenance and possibly offers lower utility bills is a huge draw, but selling your family home and purchasing something much smaller is not your only option!

If you want to talk through your options more to decide which route to take, contact me! I’d love to walk you through it.

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