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Empty Nesters Like it That Way

Retirement Couple FBN

If your retirement planning includes selling your old house and buying a new one, here's some insight from Pulte Group, builders of Del Webb retirement communities.

Among empty nesters, 91% found that the departure of their grown children reduced their expenses, particularly grocery bills. It also gave 85% of them more time to spend with a partner -- for better or worse -- and 80% cobbled together enough money to take a dream vacation. That's nice.

These empty nesters like their situation so much that most of them -- 68% -- would prefer to help grown children who are having financial trouble by giving them money rather than letting them move back home.

More than 70% turned their grown child's room into something else. For 34% of people, it became a guest room. 14% are using it as an office and 4% have made it a media room. About 2% admit that it has become a "junk" room.

The National Association of Home Builders reports that in 2012, slightly more than 20% of new homes were purchased by people older than 55. Pulte found that about 55% of people older than 50 plan to make a move sometime in the future, with 10% eyeing a new home in a warmer climate.

If you are considering this option, better have a plump savings account. Pulte says buyers of new Del Webb retirement homes spend $240,000 on average. But then they add an average of $60,000 in options and upgrades. Higher-end appliances and granite in the kitchen are among the most popular. Second on the list is a premium lot or location within the community.

For $60,000, most of us could make the houses we already own nice enough to just keep living there.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.90% dw 4.01%  
15 Y Fixed Graph 3.01% dw 3.13%  
30 Y Fixed Jumbo Graph 4.29% up 4.27%  
5/1 ARM Graph 3.19% dw 3.26%  
5/1 Jumbo ARM Graph 3.85% up 3.84%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.37% dw 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.64% up 4.63%  
$50K Loan Graph 4.25% -- 4.25%  
$75K Loan Graph 4.25% -- 4.25%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.07% up 3.06%  
36 M Used Graph 3.29% up 3.28%  
48 M New Graph 3.06% up 3.04%  
48 M Used Graph 2.95% dw 2.96%  
60 M New Graph 3.13% up 3.12%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% -- 0.39%  
1 yr Graph 0.63% up 0.62%  
5 yr Graph 1.48% dw 1.51%