Who is buying land now? – Baby Boomers (Part 1)

Tuesday, October 27th, 2009

As we continue to discuss who is buying land these days, the next group we'll focus on is the Baby Boomers, or as they should perhaps be called, the "Land Boomers".

The reverberations from the Baby Boom are continuing to be felt. Nearly 80 million Baby Boomers are edging ever closer to retirement. In fact, about a hundred thousand Baby Boomers who have chosen early retirement will be receiving their first Social Security checks next month.

Vintage Oaks

The outlook for these retirees and those who come after them has never been brighter. Although each person's situation is different, as a whole, this generation will have a quarter of a century of retirement to look forward to, and will bring to retirement an unprecedented level of affluence and continued good health.

Because they want to ensure a comfortable retirement, droves of Baby Boomers are snapping up land for sale in interesting locales across the United States. While this generation might be financially more well off than their predecessors, it doesn't mean that they're spendthrifts. On the contrary, it seems as though they're very aware that their longevity means that they have to be careful with their assets to ensure that they'll have enough money for retirement.

As a result, the trend is for Baby Boomers to bypass traditional real estate opportunities and financing, and instead find land for sale by owner (also known as FSBO) or foreclosures, with the intent to build at a later time. In other words, they aren't going to buy land for investments, but rather as the foundation for their golden years. And they want to find land for sale at bargain prices.

Tags: baby boomers, early retirement, foreclosures, land preference