Downsizing is usually the way to go for retired couples and individuals, as a smaller nest is much easier and cheaper to maintain. However, there is a growing rate of senior citizens who, instead of downsizing, are buying larger homes. This group consists of single females Forbes calls the "single female boomers."
These are the ones who have owned homes on their won before, and want to continue owning a home in retirement. According to the data, out of the single buyers within the Del Webb adult community in 2012, 70 percent were single women. This number has been steadily increasing. In 2013, the single women buyers ballooned up to 76 percent, 77 percent in 2014, and 80 percent last year.
Based on this information, Del Webb commissioned an online survey of women between 55 to 74 years old. The survey discovered single female boomers are now numbering approximately 25 million, with 28 percent of them planning to move in the next five years.
Marian Watkins, 66, is a single lady retired from the Air Force. She recently moved to a three-bedroom house within an adult community.
"A lot of people who come here think they want to downsize, and then they buy up," Watkins told Forbes. "I thought I was the only crazy one."
Now, Watkins' decision to move up is proving to be useful, as she has gone back to work tutoring students at her home and as executive director of a pregnancy resource center. Her two extra bedrooms serve as her office and classroom.
In fact, according to Fox Business, a recent survey shows that 50 percent of single female boomers are still working because they enjoy it. This new lifestyle trend is paving a way for older homebuyers, and is slowly making a niche in the real estate industry.
