Real Estate for Boomers and Beyond

Book excerpt: Adult children and their parents are faced with many housing decisions-- from deciding whether to move into a more energy efficient home or remain in the family home. In addition, they'll need to answer tough questions including: "Is a reverse mortgage right for me?" and "What can I do if I'm house rich and cash poor?" In Real Estate for Boomers and Beyond journalist, boomer and real estate analyst Tom Kelly answers these and hundreds of other questions as Baby Boomers and The Greatest Generation plan their lifestyle and housing needs. According to the US Census Bureau, nearly 80 percent of older population own their home. And as they have begun to look at their homes as their greatest asset--not just as physical shelter, the time is ripe for concise guidance on managing the most expensive investment they've likely ever made. In this complete guide to senior real estate, Kelly highlights the social trends driving the market, and shows readers precisely how to apply this information to their own retirement plans. Chapters examine the myriad housing options for seniors and future retirees: moving closer to the kids or to the sun, adapting the family home for senior living, considering an assisted living community, staying in place, and more. Interwoven throughout are real-life stories of seniors exploring new living arrangements. With this book as a guide, members of the "don't-want-to-borrow" Greatest Generation and the "loan-crazy" Baby Boomers, will learn how to protect and capitalize on their most precious asset--the home.