6 Homebuying and Mortgage Tips for Retirees
Sure, your grandma and grandpa may have stayed put once they left the workforce, but you likely have other plans. Now more than ever, it seems retirees are on the move—and buying new homes.
About 18% of homebuyers were younger baby boomers (aged 56 to 65) in 2021. And older boomers (aged 66 to 74) scooped up an additional 14% of the market during the same period, according to a recent report from the National Association of Realtors®.
Buying a new home is a logistical and financial challenge no matter your age (or how many times you’ve done it). But our mortgage and lending system can be especially challenging for retirees to navigate, simply because lenders prioritize income.
To help, we reached out to real estate professionals for tips on how retirees can find their golden years dream home, land a great mortgage, and still have plenty left in the bank for whatever surprises life delivers.
