Baby Boomers and vacation homes have discovered each other. The home-away-from home is now a reality for about three-fifths of those Americans born between 1946 and 1964, and while two-thirds of them actually take vacations in their vacation homes, the others use their vacation homes as income properties.
Vacation Homes As Retirement Homes
That means, for the rest of us, that there are millions of vacation homes waiting for occupants each year. Vacation homes have become big business. The bull market of the past eight years has many Boomers with disposable income, which they shirted to the real estate market before e it began its descent. Boomers have been thinking ahead to retirement for the past ten years, and vacation home purchased cheaply and paid off can often turn into ideal retirement homes.
The same factors that make a part of the country attractive as a vacation spot–climate and natural beauty–also make it attractive as a place to spend retirement, so by purchasing vacation homes along the coasts and in the Sun Belt, many Boomers are now set to spend their leisure years in the sun. But until they are officially retired, their...
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