Heres what retirees are looking for in a new home

Retirees and those nearing retirement are keeping the housing market alive.The median age of repeat homebuyers is now 61, jumping 25 years since 1981, according to analysis from the National Association of Realtors.But as the demographic of buyers has changed, so too have their tastes.“As we begin to age, we start looking at things from a different perspective—a wiser set of eyes,” says Paul Dashevsky, co-founder of GreatBuildz.That added wisdom means prioritizing practicality over keeping up with the Joneses.

Retirees want more than a white picket fence: They want to maximize their equity by investing in a low-maintenance property in a great community that will allow them to age in place.We spoke with builders, real estate agents, and senior care specialists to learn what retirees are looking for in their next home.Here’s what we found:Baby boomers own $84 trillion worth of real estate wealth, and they want to make the most of it in retirement.

One of the chief ways they can do so is to downsize their home, says Karen Holt, global real estate advisor at Premier Sotheby’s International Realty.“Many retirees are downsizing from larger family homes to single-story or low-maintenance properties,” she adds.Not only are these properties better suited to the changing accessibility needs of older adults, but they’re often cheaper to buy and maintain.Those savings allow retirees to make the most of their home sale proceeds and create a financial cushion to fund retirement expenses, travel, healthcare, or hobbies.“Aging-in-place improvements are crucial for many retirees,” adds Holt.These home modifications use universal design elements to enhance the safety, accessibility, and comfort of a space. But adaptive living is more than just a matter of practicality—it’s also a top design trend for 2025, according to Forbes.  Morning Report delivers the latest news, videos, photos and more.

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