Some boomers are also in on a version of the two-house solution. “They’re selling at the top of the market, and then we’re helping them get into that smaller condo or patio home so they can finish up their last couple years in the workforce or be close to grandkids,” said Jennifer Young, head of a real estate team with Keller Williams Realty in the Washington, D.C., metro area.
Empty nesters Peter and Janine Velardi bought a 2,400-square-foot condo at 40 West 12th Street in midtown Atlanta, part of a trio of interconnected buildings that also house Google offices and an Epicurean Hotel with a pool and high-end restaurant, where Peter can host client lunches. He consults in private equity, and is chief executive of referral marketing software company ReferMeIQ.
“One of the things I love is that I can actually see clients and network here in the common areas,” he said. “There are about ten areas where I can meet people.” The couple spends weekends at their home on Lake Lanier, an hour-plus north. “The culture is very different up there. It’s kind of lost in time—this cute, historic Georgia town with a great Main Street and restaurants.”
This article was provided by Bloomberg News.