Retirees aiming for luxury living can benefit from strategic financial planning, particularly those with substantial home equity and savings. These factors enable the purchase of high-end homes in desirable locations. The demand for luxury retirement properties is bolstered by a growing number of luxury homes available in key markets, with current data indicating a remarkable increase in listings. The Social Security system supports many retirees, with benefits contributing to their overall retirement financial picture, allowing them to explore options for upscale living in sought-after locations.
"Households who have a sizable amount of existing home equity and retirement savings may find purchasing a luxury retirement home appealing," says Realtor.com senior economic research analyst Hannah Jones.
"The luxury market has been relatively active in recent months despite a challenging overall market," explains Jones. "There were roughly 15,000 more luxury homes for sale in January compared to one year prior..."
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