As 77 million Baby Boomers move into their senior years, addressing the diverse needs of this housing sector has become a hot topic for builders, developers and Realtors. With seemingly endless alternatives, there are a few housing trends taking hold that merit additional investigation. Today’s baby boomers face many challenges and opportunities never before seen in the real estate market place. Generally speaking, there are healthier, more active, more educated and wealthier than any previous generation. Simultaneously, they also face the challenges of taking care of elderly parents, managing their finances to maintain their standard of living into extended old age and remaining independent yet secure as long as possible. These challenges translate directly into distinct trends in the housing industry.
Aging in Place
Many aging baby boomers as they approach retirement are choosing to remain in their own homes and live independently as long as possible. Others, for whom this may not be an option, are finding themselves downsizing their belongings and moving in with their adult children. In either case, the aim is to age-in-place, living safely, independently and comfortably, regardless of age or agility level. This trend is opening up a whole new industry in both remodeling and new construction to accommodate the needs of these baby boomers.
Universal Design Features which can be applied to remodeling projects are most commonly used in new construction due to the structural requirements for successful implementation. Universal design features improve the safety and utility of homes specifically useful to the aging and those with limited mobility. These features compensate for reduced strength, reduced mobility and agility and help to improve balance and coordination. The AARP has put together a collection of design recommendations and additional information on Universal Design on its website at http://www.aarp.org/families/home_design/
Remodeling to accommodate the needs of the aging can take on some surprising requirements. While adding a main floor bedroom and bath are a common project, adding additional parking or driveway space or adding an additional computer nook may be exactly what is needed. Understanding the remodeling requirements for an aging population has become such a hot topic that the National Association of Home Builders (NAHB) has created a new CAPS certification. This “Certified Aging-in Place Specialist” designation certifies that architects, builders and remodelers are trained in the unique requirements of an aging population.
Jennifer Greenway
Vice President of Career Development
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