It has been said that if you want to make money doing anything you should just follow the Baby Boomers. Almost 80 million Baby Boomers are getting close to retirement. In fact, about a hundred thousand Baby Boomers who have chosen early retirement will be receiving their first Social Security checks. The outlook for these retirees and those who come after them has never been brighter. Although each person’s situation is different, as a whole, this generation will have a quarter of a century of retirement to look forward to, and will bring to retirement an unprecedented level of affluence and continued good health. Droves of Baby Boomers are snapping land for sale because they want to ensure a comfortable retirement. The rest of this article will explore reasons Baby Boomers are snapping up this land.
Boomers are Value Conscious
Although this generation is financially better off than their predecessors, they are more cautious with their money. Since they realize they have a long life span, they understand that they have to be very careful with their assets to that they do not outlive their money. Therefore, Baby Boomers tend to turn down traditional real estate opportunities and financing. Instead Baby Boomers are finding land for sale by owner or foreclosures. They usually intend to build on these properties at a later time. They are buying this property as a foundation for their retirement years. They are looking to get these properties at a bargain.
Location, Location, Location
Part of the process of finding the right kind of land for sale is finding the right location. Current trends indicate that Baby Boomers are choosing to buy land that is off the beaten path. Few are fortunate enough to be able to afford to buy or build Malibu beach houses or Manhattan penthouses. Instead, they are choosing to go where property taxes and property prices are low. However, – and this is a key factor – they still want many of the amenities that make retirement living relaxing and rewarding. So, for example, they look for land in or near a golf community, or lake land that affords them wonderful opportunities for fishing. They often opt for land in areas that are going to be developed into private communities, complete with lakes, rivers, recreation centers, and nature trails. Most importantly, they don’t want to be “snowbirds,” living winters in one area and summers in another. Instead, they want mild temperatures that they can enjoy year-round. This should be a plus for people with properties in warm climates.
Unlike the generations that came before them, baby boomers know what they want. They also typically have the money to afford to buy exactly what they want. If you can buy investment properties near the things that baby boomers want, you will have a leg up on the competition.