Seniors Hold On Tight To Their Assets
Summary
New data from American Advisors Group (AAG), reveals that seniors homes not only have a great deal of monetary worth, but also significant sentimental value. "Our studies have shown that seniors in this country have a strong attachment to their home and the pandemic only strengthened that bond," said AAG chief marketing officer Martin Lenoir. "Its no secret that many seniors have built substantial equity in their homes after years of ownership, but what is interesting is that very few want to sell their house to obtain that money. For seniors, the comfort, safety and independence of their home outweighs the desire to move and thats why were seeing so many older Americans interested in reverse mortgages." Most importantly, new homebuyers should note that seniors intend to hold onto their homes for as long as possible, with 68% expressing their desire to stay close to their family for the rest of their life.