Real Estate

More boomers are choosing to ‘upsize’ their homes in retirement

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Ariel Skelley | The Image Bank | Getty Images

With age comes increased frugality.

As people reach retirement age, it’s been common practice to get rid of what you don’t need, including personal items, extra expenses and oversized, hard-to-manage properties.

For years, the average American retiree has charted a predictable course through retirement, choosing smaller, more manageable homes, condos or retirement communities built for people aged 55-plus. Why pay for taxes and upkeep on a home that no longer fits you?

Things have changed in the last few years, however, and a new trend has emerged.

Rather than downsizing or right-sizing, retirees are starting to upsize. They are moving to bigger…



Source cnbc.com

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