Sunny weather isn’t really the only thing luring retirees to a new locale these days. In fact, just 48 percent of retirees said in a survey that they would relocate for “pleasant climate/weather.”
This is based on a survey conducted by Merrill Lynch to project real estate trends for retirees of today and the near future.
The survey also revealed that many Boomers today haven’t renovated for aging concerns, such as using universal design features throughout their house. Instead, among retirees who’ve renovated, creating a home office was the most popular improvement.
“Most people plan to work in retirement and a home office helps them do that,” Cynthia Hutchings, Director of Gerontology at Merrill Lynch, tells MarketWatch. “They want to be relevant and connected."