Amidst the pandemic, numerous individuals maintained physical distance from their loved ones due to health concerns. Grandparents were especially advised to refrain from visiting their grandchildren, particularly as schools reopened, owing to the potential risk of their young ones contracting illnesses from the school environment.
With the pandemic now behind us, there is a growing desire among grandparents to reunite with their grandchildren and compensate for the time spent apart. How are they fulfilling this “Grandparent Wish”? Recent data from the National Association of Realtors (NAR) reveals that a significant number of grandparents are choosing to relocate in order to ensure they can spend more quality time with their loved ones.
Grandparents Are Relocating to Be Closer to Family
The latest data from the National Association of Realtors (NAR) indicates that individuals aged 55 to 74 are relocating over longer distances, exceeding 100 miles, compared to any other age group, as depicted in the graph below:
With the average age of grandparents in the United States standing at 67 years, it’s reasonable to assume that a portion of those who are undertaking longer relocations are indeed grandparents. However, what is motivating them to move such considerable distances?
The NAR report also highlights that the primary driver for these moves is the desire to be in closer proximity to their loved ones, as illustrated in the graph below:
Based on this data, it’s evident that numerous grandparents are successfully realizing their desire for increased quality time with their grandchildren by relocating closer to them. This is especially significant after the isolation and loneliness experienced during the COVID pandemic.
If you happen to be a grandparent, you understand the profound importance of your grandchildren in your life, and you might be willing to sell your current residence and move to be in closer proximity to them. As Vance Cariaga, a journalist at Go Bank Rates, articulates:
“Never underestimate the influence of grandchildren, particularly when it comes to shaping one’s lifestyle and financial decisions. Recent data indicates that many baby boomers are choosing to move farther from their original homes to be nearer to their beloved grandbabies.”
The data unequivocally illustrates that grandparents are relocating over longer distances to be near their grandchildren. If you find yourself in a similar situation with grandchildren of your own, it may be worth considering a conversation with a local real estate professional when the time comes to be closer to your cherished loved ones.