Ah, empty nest syndrome. The melancholy that kicks in after your children leave home might be one of the most saddest things you ever experience.
We’re with you – it is rough – but isn’t it also kind of exciting? If you’re an empty nester, it’s fair to say you’re probably in your late 40s to early 60s, and retirement is on your radar. Your empty nest is the perfect opportunity to start a new chapter and focus on yourself.
This life seems to be particularly feasible in Atlanta, which was ranked as one of the top 10 U.S. cities for retirement. WalletHub rated 150 cities in 2016 across four key dimensions, including affordability, activities, quality of life and health care. Atlanta came up as No. 8 on the list.
We compiled a bit of research on home values and pricing, and found that the report from WalletHub is not far off. Metro Atlanta does cater really well to empty nesters and folks who are getting ready to retire.
1. The active adult community scene is growing.
Metro Atlanta has an increasing number of active adult communities (neighborhoods designed for folks who are 55+ who might not be ready to retire just yet). They feature organized sports, pools, spas and more.
While a small percentage are located in Atlanta proper, the vast majority of the communities are located outside of the city. The median price for all Metro Atlanta adult active homes in 2015 was $245,000. In 2016, it increased to $272,653. The styles of homes within the communities range from “Patio” to “Garden” to “Ranch.”
Over the last two years, the three cities that saw the top transactions of homes in active adult communities included Marietta, Cumming and Canton. We also saw Kennesaw and Johns Creek pop up as areas with a strong presence in the market.
Maybe living in active adult community isn’t for you, and that’s OK. But, if you’re looking for specific areas that are welcoming to empty-nesters and have a lot to offer for folks who are nearing retirement, you should definitely consider one of these five.
2. There’s a lot to do.
Atlanta ranked No. 3 out of the 150 cities analyzed within the “activities” category of WalletHub’s report.
There are more than 45 museums sprinkled throughout Atlanta proper and its adjacent suburbs. If you’re into art and history, perfect. If volunteering at cultural institutions sounds fulfilling, here’s your chance to get started.
According to TripAdvisor, the three highest rated museums are the Center for Civil and Human Rights, the Atlanta History Center and the High Museum of Art.
And as we’ve previously noted, Atlanta’s parks are a hot commodity right now. Property values near them are steadily rising, and the city is investing in developing even more greenspaces.
3. There are a plethora of housing options.
So, your impression of housing in Metro Atlanta might be clouded by what you see on “The Real Housewives of Atlanta.” Sure, the city has its fill of mansions, but there’s really so much more.
The variety of housing options is a big factor that makes Atlanta great for empty nesters.
For example, the city itself is sprawling with real estate in high-rise and mid-rise buildings. These types of homes make up 17% of the transactions in Fulton County.
The WalletHub study focused on Atlanta proper, but we fully recognize that living in the midst of the city isn’t for everyone. As you move farther out, you’re likelier to find a larger variety of single-family homes for sale. For example, ranch homes make up 23% of the transactions in Dekalb County, which is just east of Atlanta.
If you’re already in the area, and you’re ready to downsize, trust us—trading in for another home is simpler than you think.
4. You can make a solid profit from selling your home.
Maybe you’ve lived in Metro Atlanta for years, and you’ve already decided it is not the ideal place for you to enjoy life as an empty nester. You are still in a great position to ultimately buy the home of your dreams.
The median price of Metro Atlanta properties is steadily increasing year over year. While it sat at $209,710 for all of Metro Atlanta in 2015, it jumped 4.9% to $220,000 in 2016. There’s a significant opportunity that if you own a property here, you will make a profit on it. Atlanta is continuously making its mark as a high-demand market.
To learn how you can start the next journey of your life—as simple and certain as possible—read up on the Knock strategy.