Poll: Boomers Make Family a High Priority When Planning Retirement Homes

Most baby boomers - 73% - want to live near family during their retirement years, far more than the 27% who prefer to live in a community with "friends of your own age," according to a new poll from LifeGoesStrong.com and the Associated Press.

Other findings of the poll:
• only 23% of boomers say it's very likely that they will move out of their current area when they retire
• but only 40% of boomers expect that they will stay in their current home throughout their retirement
• 67% say it is very unlikely that they will move out of their current state
• only 13% say there is a good chance that they will move across state lines

Of those likely to buy a home, their key reason is to get into:
• A smaller home: 43%
• A different climate: 30%
• A more affordable home: 25%
• A home closer to family: 15%
• A home in a retirement community: 12%

Of the boomers who've had children leave the house:
• 47% have converted their rooms to other uses
• 51% left the rooms as they were

Those who remodeled their new spare rooms turned them into:
• guest bedrooms: 58%
• home offices: 39%
• craft rooms: 28%
• entertainment rooms: 15%

43% of boomers still have children living at home, and 49% of those boomers plan to convert their rooms to other uses when they leave.

One reason for making the conversions: 76% prefer friends and family stay at their home when visiting, while only 23% think they ought to stay in a hotel.

Source: http://www.appliancemagazine.com/news.php?article=1533314&zone=0&first=1