Growing Older Won't Make Most Boomers Budge from Their Homes

The housing industry is gearing up for the surge of boomers who began turning 55 last year. In the next five years alone, over 18 million boomers will cross this dubious threshold and officially become classified as seniors, at least from the perspective of most demographers.
To home builders, these boomers are known by the friendlier term, active adults, and represent the fastest growing segment of the housing market.

It is not only home builders who are anxiously anticipating the aging of the baby boomer generation, however; so are many remodelers. These remodelers are putting out the welcome mat for all the new business that will soon be coming their way in droves. Why? Because, just like their parents, growing older will not make most boomers budge from their homes.

Research shows a strong preference by Americans to remain in their current residence for as long as possible as they grow older. This translates into a need to remodel or adapt their homes to meet their changing abilities and circumstances. Today, this phenomenon is popularly referred to as aging-in-place. In general, it is defined as living in one's home safely, comfortably and independently, regardless of age, income or level of mobility.

Older Americans have always been the least inclined to move, compared to homeowners of any other age group. What has changed is the magnitude of those who are now, or soon will be, facing the agonizing decision to move or stay put.

The National Association of Home Builders (NAHB) found in a recent survey that more than 50 percent of those age 55 or older have lived in their homes longer than 10 years. Many of these homeowners are reluctant to pack up and leave family and friends behind. They resist severing emotional attachments to their home and neighborhood or adjusting to new surroundings. Although, by and large, boomers are better off financially than their parents were at the same age, others who plan to stick-it-out where they presently live will do so because of financial concerns and limitations imposed by living on fixed incomes. It is these boomers who are driving the aging-in-place market and who regard remodeling as the answer to how they can live conveniently and safely in the home and community where they feel most comfortable.

Very simply, "getting around" is the key to making a house compatible to the needs of the aging-in-place occupant. Most frequently, older homeowners report problems climbing up and down stairs or difficulty walking or standing. Also common are problems due to impaired mobility when reaching for light switches, faucets, doorknobs or cabinets. And for those who are still relatively mobile and agile, the necessary modifications might require reducing the possibility of accidents by providing more light in high-accident areas such as kitchens, bathrooms and stairways; adding railings or grab bars to prevent falls; or changing floor coverings to add traction and eliminate slippery surfaces.

In a poll conducted last year by Remodeling magazine, remodelers reported that the most common projects for their 65-plus clients were making handicapped accommodations, installing brighter lighting, widening doors and hallways, and installing ease-of-reach and bend systems. As might be expected, much of this work focused on bathrooms, kitchens and entryways, although many were smaller projects or what the industry refers to as handyman jobs.

Louis Tenenbaum of Access Remodeling, who works out of Potomac, Md., a suburb of Washington, D.C., and who was one of the first in the industry to specialize in home modifications for older homeowners, reported that most of his jobs average $5,000. Of course, if the house is lacking a bathroom on the first floor or the owner wants a first-floor master bedroom suite, the cost would be considerably higher.

To address the unique demands of the burgeoning aging-in-place market, the Remodelors™ Council of the National Association of Home Builders (NAHB) recently presented credentials to the country's first 65 Certified Aging-in-Place Specialists (CAPS). This new designation program equips remodelers with the marketing, technical and customer service skills required to help homeowners, regardless of age, maintain their independence and increase security in the homes they presently occupy. The NAHB Remodelors™ Council, in collaboration with the NAHB Research Center, NAHB Seniors Housing Council and AARP, developed the CAPS program.

The baby boom generation has earned its reputation for making waves, as it has passed through each stage of life, based on shear numbers and their persistent demands for having it their way. Now that boomers are entering the stage of life when age imposes its own demands, their clout will still prevail in the housing market as remodelers and builders race to keep up with the boomers' expectations of where and how they want to live.