Del Webb, the Pulte brand that focuses on Baby Boomer and senior lifestyle communities, has just released its 2005 Del Webb Baby Boomer Survey which offers insights into the opinions and concerns of this highly-targeted segment of homebuyers. Where are these 79 million strong people going to live and what kind of homes do they want to buy?

Not surprisingly, most (47 percent) respondents to the survey say they are not moving more than three hours away from their families as they consider where they want to live in retirement. Otherwise, weather is the most important consideration, with 14 percent picking Florida, Arizona in close second place with 12 percent, followed by North Carolina at 10 percent, California at eight percent and Texas at five percent.

The study, conducted by Harris Interactive on behalf of Pulte Homes and its Del Webb brand, indicates that the top reasons Boomers will move out of state is for a more affordable location and/or housing, better community lifestyle, warmer climate and to be closer to family.

There are differences in how younger Boomers (age 41-49) and older Boomers (age 50-59) view retirement.

Younger Boomers (59 percent) say they want a new home in retirement and 45 percent are willing to move out of state. They have an eye on affordability and will avoid states they consider too high in cost of living.

Older Boomers (48 percent) say they will move to another state in retirement, and a higher cost of living would not deter them. Yet, 70 percent say moving for more affordable housing and location are their motivation for moving.

Both groups plan to spend between $100,000 and $199,000 for a new home in retirement.

Because of recent concerns over the fundability of the Social Security system, the survey delved into Boomer subgroups to determine if there were key differences of opinions between ages 41-49 and those 50-59. Over half say they have a solid understanding of Social Security issues, and most do not expect their Social Security benefits to be their sole source of income.

Those most affected by changes in the current Social Security system, ages 41-54, say that 76 percent of them are concerned about health insurance during retirement. The respondents were equally confident and not at all confident that they would have enough money to retire comfortably.

Of those unaffected by Social Security changes, ages 55-69, 71 percent are concerned about health insurance during retirement, while 29 percent were confident they have enough resources for retirement, and 25 percent are not at all confident that they will.

Of the retirement lifestyle, travel tops the list of things retirees want to do most. Other interests are spending time with loved ones, exercising, volunteering, taking up a hobby, acquiring new skills, taking classes or going back to school. Top concerns were not being healthy enough or having enough money to be comfortable.

Most Boomers say that they are likely to downsize or remain in the same size home when they repurchase. Laundry rooms and Internet access are their most highly desired housing features. Many want more than one bedroom so they can use it as a guest room or office space. Many intend to continue working because they enjoy it, and want to remain mentally active.

Over 95 percent of Boomers use e-mail, according to the study, and they enjoy Internet research, shopping and banking.

Published: July 19, 2005

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