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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 3.93% up 3.87%  
15 Y Fixed Graph 2.99% dw 3.03%  
30 Y Fixed Jumbo Graph 4.29% up 4.27%  
5/1 ARM Graph 3.27% up 3.20%  
5/1 Jumbo ARM Graph 3.81% dw 3.85%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.68% up 4.61%  
$50K HELOC Graph 4.10% up 4.03%  
$30K Loan Graph 4.48% -- 4.48%  
$50K Loan Graph 4.12% up 4.10%  
$75K Loan Graph 4.12% up 4.10%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.02% dw 3.03%  
36 M Used Graph 3.20% dw 3.21%  
48 M New Graph 3.24% up 3.11%  
48 M Used Graph 2.72% dw 2.83%  
60 M New Graph 3.36% up 3.10%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.34% dw 0.36%  
1 yr Graph 0.63% -- 0.63%  
5 yr Graph 1.41% -- 1.41%