News > Home Trends for 2010 for the Over 55 Market

Home Trends for 2010 for the Over 55 Market

Aging in Place Perhaps the most interesting area of new home trends centers on the over–55 market. Aging Baby Boomers certainly hold significant consumer buying power. And while builders are very interested in catering to Boomers, to a large extent, this segment remains underserved. The reasons are complex. Slotkis, who also works with over–55 clients residing in active communities in Florida, believes that builders still have a long way to go."It's so much more economical to include aging–in–place features during construction, but it seems that many builders are concerned that items like bathroom grab bars could be viewed as a turn–off to active 55–year–olds who don't want to concede that such features could come in handy later." NAHB research confirms that consumer preferences are distinctly different for over–55 buyers. For example, nearly 70 percent of 55 plus buyers say they want the master bedroom on the first floor,compared to just 16 percent of all buyers. Smaller, space–efficient homes are especially important to these near retirement homebuyers.

And their most important design features? At the top of the list: washer/dryer in the unit, storage space, and windows that open easily. Homebuyer Attitudes Regardless of age, and whether buying a new home or remodeling an existing property, consumers remain cost conscious. But there are important subtleties in their buying behaviors centered on affordability."When deciding whether to upgrade various construction materials and appliances, for example, consumers are now very focused on evaluating recovery costs," says Melman."They're willing to pay a little more if they see a reasonable payback."In terms of home remodeling projects,Melman says that consumers are still actively engaging in maintenance and repairs, but"large kitchen overhauls are much less frequent." Jamie Gibbs, an interior designer with offices in New York and Indianapolis sees back–to–basics and a value orientation as important consumer behaviors."It's not about pinching pennies," explains Gibbs."Instead, I've found that consumers have become savvier. They don't want to buy into trends. When furnishing their homes,they would rather invest in one quality item than several cheap pieces that won't hold up."

Home builders seem to agree. By showing consumers that a smaller home can also be a better home, they are addressing buyers' value orientation with efficient, affordable and highly live–able homes. It's a trend that will likely endure for years to come.

10 Most Likely Features that builders will include in 2010

1. Washer&Dryer in the Unit —90%
2. Storage Space —84%
3. Windows that Open Easily —81%
4. Garage Door Opener —73%
5. Easy–to–use Thermostat—73%
6. Master Bedroom on First Floor —71%
7. Private Patio —67%
8. Porch —66%
9. Attached Garage —65%
10. Bigger Bathrooms —64%

Items like bathroom grab bars could be viewed as a turn–off to active 55–year–olds who don't want to concede that such features could come in handy later." NAHB research confirms that consumer preferences are distinctly different for over–55 buyers. For example, nearly 70 percent of 55 plus buyers say they want the master bedroom on the first floor, compared to just 16 percent of all buyers. Smaller, space–efficient homes are especially important to these nearretirement homebuyers. And their most important design features? At the top of the list: washer–dryer in the unit, storage space, and windows that open easily. Homebuyer Attitudes Regardless of age, and whether buying a new home or remodeling an existing property, consumers remain costconscious.

But there are important subtleties in their buying behaviors centered on affordability."When deciding whether to upgrade various construction materials and appliances, for example, consumers are now very focused on evaluating recovery costs," says Melman. "They're willing to pay a little more if they see a reasonable payback." In terms of home remodeling projects, Melman says that consumers are still actively engaging in maintenance and repairs, but"large kitchen overhauls are much less frequent." Jamie Gibbs, an interior designer with offices in New York and Indianapolis sees back–to–basics and a value orientation as important consumer behaviors."It's not about pinching pennies," explains Gibbs."Instead, I've found that consumers have become savvier. They don't want to buy into trends. When furnishing their homes, they would rather invest in one quality item than several cheap pieces that won't hold up." Home builders seem to agree. By showing consumers that a smaller home can also be a better home, they are addressing buyers' value orientation with efficient, affordable and highly live–able homes. It's a trend that will likely endure for years to come.

Home / Buyer's Guide / Dirt Road Realty / About the Town / Contact Us / Search All Homes SiteMap / Disclaimer / ©2008 Dirt Road Realty LLC / Rhinebeck, New York, 845.876.3502