Baby Boomers Looking for Deals and Low Taxes in South Florida

by Isaac Benmergui, Esq on August 16, 2013

Senior couple w giftBaby boomers looking for hot deals on real estate and the no state income perk of Florida living are competing with first-time homebuyers in search of their perfect place in the sun. The boomers have one advantage the younger buyers may not have, the ability to pay in cash for their new home.

Baby boomers have seen the kids off to college, they’d bought and paid for their first home and now have the disposable income to buy a second home in a warmer climate, or simply relocated altogether. Boomers look for walkable communities with, shopping restaurants, doctors’ offices and public transportation nearby. The desire for good schools, grassy yards for kids and dogs to run around in are behind them. Boomers bring an influx of cash to any community because they have fewer expenses than young families, and as they draw on their retirement funds, they won’t have to pay state income tax, which gives them even more buying power.

Developers know that when baby boomers are shopping for a new home, that they probably have a high credit score, are more likely to be good neighbors to the rest of the tenants, and are more likely to remain in their residence which gives the neighborhood stability.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

Previous post:

Next post: