You really didn’t expect Baby Boomers to flock to those staid retirement communities in Florida and Arizona, did you?
The generation that defined so much of American culture also demands more when they call it quits, and some are beginning to discover that college towns offer some really good — and low-cost — places to retire these days.
“Historically, it was always Florida and Arizona,” says Coldwell Banker President Budge Huskey. “It seems as though for many people, the attraction to what their passion is now outweighs the typical retirement option. Instead of retiring to Florida and the warm weather, many retire to a college town, or a ski village because they love skiing. The traditional patterns are changing.”
“To be sure, most people who retire stay in the houses they have lived in for years,” says AARP spokesman Nancy Thompson. But Baby Boomers especially have been an extremely mobile and adventurous generation. And they are finding that you don’t have to spend $500,000 for that dream retirement home and spend the sunset years playing golf.
“The retiring generation is not ready to give up,” says Charles Upchurch at Coldwell Banker Upchurch Realty in Athens, Ga., home to the University of Georgia. “They are retiring to college towns.”