Baby Boomers Prefer Suburban Living in Their Later Years

A recent survey conducted by the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute asked owners and renters aged 55 and older about their current homes and the types of homes, communities and features they prefer as they age.

Interestingly enough, the study revealed that Americans would prefer suburban living in single-story homes with amenities, particularly high-speed Internet access, for their later years, and they don’t consider “universal” design a priority.  This universal design approach attempts to make houses and facilities universal, in the way that anyone can live in and use them.

This survey also questioned builders/designers of new housing, and what they thought would be the most important in implementing this universal design. While builders seem to be providing more universal design features (lever-handle/door knobs, wider doors and hallways, a full bath at the entry level), consumer preferences don’t reflect an equal appreciation of such items. Consumers indicate they want amenities such as non-slip floors, larger medicine cabinets, lower kitchen cabinets and emergency call buttons, but those features are not as widely included in new homes.

Although consumers and builders are coming to other agreements, such as the need to be near community resources like shopping and medical services, the consumers seem less willing to pay a little more for the energy-efficient and eco-friendly housing the builders wish to provide.

“The data suggests that builders will have to be more tuned in to consumer needs, but potential buyers may be somewhat shortsighted as well,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute. “The homes consumers say they want may present difficulties for the long term as they age in place. They prefer the suburbs and the country, but these areas generally lack public transportation. Universal design is not a strong preference, but they’ll need greater accessibility later on. Aside from recognizing that one-story homes will be best for their later years, customers may be somewhat unrealistic.”

This survey suggests that as the housing market returns to normal health, builders will have to take extra care in listening to their 55+ aged consumers. This also provides good insight into the future of care for loved ones. It is great to see that so many people feel they will be adequately living in their own, most likely one story home. And there is no doubt that as time goes on people will become busier than ever, so they may need extra help in caring for elderly loved ones.

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SOURCE: http://www.metlife.com/assets/cao/mmi/publications/studies/mmi-55+-builders-buyers-beyond.-pr.pdf