Home Ownership = Security for Boomer Women

It makes sense that, for most people, owning a home is better than renting. Now a major study that focused on women in the baby boom generation makes it very clear – women who own their own homes will have an economic advantage as they get older.

The study was highlighted in a recent Realty Times article. Researchers at Harvard in the Generations Policy Program are looking at problems related to the aging of the baby boom generation. And what they’ve found so far is not surprising but does point up the need for women – either alone or with a partner – to strive for home ownership.

Investing in a home creates value that can be a financial "cushion." Owners have the option of taking equity out of their homes for retirement needs; renters won't have that opportunity. Even in a less than booming market, it is likely that a home will appreciate faster than cash savings. So, even if renters have a nice nest egg, their investments won’t grow as quickly as real estate.

Here in the Charlottesville area, new senior housing developments are planned and under construction. Plus, there are existing homes with the features that active adults are looking for. Start by checking my listings, then give me a call. It’s still a good market, and a good time to find that perfect home for you and your future!