Baby Boomers, Retirees, Look for Florida Home Loans, Single-Family Houses

Florida is the number-one destination for those looking to retire. As a result, a handful Florida home loans are tailored to this community. For example, there are many reasons to consider a reverse mortgage if you’re over the age of 65 and not thinking about moving any time soon.

But what if baby boomers are thinking of buying or selling? With this in mind, ERA Real Estate has announced the results of its annual survey of mature consumers regarding their opinions toward real estate and the home buying and selling process.

The national telephone survey of more than 1,000 men and women aged 50 years and older determined that the majority of respondents (64 percent) clearly identify the single-family home as their preferred residence of choice.

Survey results: A single-family Florida home loan or a condo?

The survey found that 21 percent of 50-plus consumers were considering a move in the next five years. Of those who plan to move, a majority (63 percent) are looking to purchase a single-family home, while 18 percent would purchase a condo or townhouse and only a scant 2 percent would choose an adult community.

More than half of those surveyed (55 percent) cited retirement as one of the reasons for buying a new home. Other motivating factors identified included:

• A desire to downsize
• Lower taxes
• Proximity to friends and family
• A change of climate and affordability.

The mature consumer continues to be an extremely influential group with very specific wants and needs,” says Brenda W. Casserly, president and COO, ERA Franchise Systems, Inc. “We are continually working to deliver targeted services and resources that are tailored to the specific needs of 50-plus home buyers and sellers. It’s part of our effort to be the real estate company of choice among active adults.”

Choosing their Florida home loan

When it comes to searching for a house, one out of four (27 percent) said their first step would be to search the Internet if they were thinking of moving or buying a home in the next five years. However, this search method was more prevalent for those under the age of 65 (33 percent) than those age 65 or older (12 percent).

Talking to a real estate agent or broker that they know was the preferred first step for 18 percent of those polled, while 14 percent would choose to talk to a friend, family member or business associate.

As previously reported, this older, active adult segment of the population is often targeted by Florida home loan companies. It’s a sought after demographic.