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For the population of nesters who live in a SFH suburban house or townhome in NNJ (or similar environment such as LI in the NYC metro), what are typical things they do when they no longer need to nest, or when they retire?
I came up with some options, perhaps you could add your additional options. Leave out the option of nursing home, as that is something often out of one's control. Specifically, could you please fill in your guesstimate percentage of people who do each of these.
Stay in the same suburban SFH (house or townhouse) ( %)
Downsize to a smaller suburban SFH (house or townhouse) ( %)
Move to a suburban condo or 55+ condo ( %)
Move to an urban environment closer to NYC ( %)
Move to retiree popular places such as shore, mountains in NJ ( %)
Move out of state - nearby (Maine thru Maryland) ( %)
Move out of state - distant (Virginia thru Florida, or elsewhere) ( %)
Motor home, move abroad, traveler ( %)
Something else or add another option ( %)
Thanks, hoping this is a fun and informative exercise!
Stay in the same suburban SFH (house or townhouse) ( 55%)
Downsize to a smaller suburban SFH (house or townhouse) ( 25%)
Everything else: 20%
Source: pulled the numbers out of my *****
I assume you mean these are the percentages that you think occurs. I assume you did not mean that you made up fictitious numbers!
If these percentages are any where near correct, it is a little bewildering because people should ideally be able to experiment more, using their new found freedom. But I guess considering the poor quality of construction and noise factors in US multi family housing, as well as people would be less willing to experiment as age advances, it is not surprising.
But it tells me what I need to do! As someone who often goes against the grain (contrarian?), I know I will be doing what the 20% (Everything else: 20%) does. More interesting I hope, and less competition, I hope!
These are the percentages I think occur, but I also made them up. They’re not backed by any real data other than a hunch I have based on my observations. A lot of people just stay put.
These are the percentages I think occur, but I also made them up. They’re not backed by any real data other than a hunch I have based on my observations. A lot of people just stay put.
Thanks for your effort. That is what I thought you meant. I enjoy reading your posts on this forum.
These are the percentages I think occur, but I also made them up. They’re not backed by any real data other than a hunch I have based on my observations. A lot of people just stay put.
My parents did. Both of them died in the NW Bergen County house they had built in 1957, my father in 1999 and my mother in 2020. It helped that my dad was a 100% DAV so they didn't pay property tax. (Mom continued the benefit as his widow, but the taxes became effective the day after she died.)
They both lived in the town their entire lives except for three or four years when they lived about two miles away in Wyckoff.
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