Active adult home buyers want maintenance-free options ...



August 29, 2005

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Your Real Estate Matters

There seems to be a lot more to the success of active adult communities throughout the nation than just some convenient rounds of golf. There's probably more to it than the appeal of mostly single-level floor plans geared especially to "mature" adults. The fact is, many people selling their 30-year old family homes and moving into these resort-style communities may want a socially and physically active life at last; one that they don't necessarily have to work so hard to achieve.

As we get older, the homes we bought when we first married, raised our families in, have become more labor intensive and maybe a burden with our diminishing physical abilities. The popularity of age-restricted communities is beginning to boom as Baby Boomers, those born between 1946 and 1964, are expected to fuel a growing demand for retirement housing. The number of people age 65 and older is expected to shoot up 137 percent to 82 million in 2050, according to U.S. Census figures.

Builders expect the Baby Boomer Generation and Seniors’ to flock to everything from age-restricted communities to smaller patio homes in traditional neighborhoods. Not everybody is going to want to live in an age-restricted community. Some people will feel younger when they are around younger people. Others may be attracted to the new “Niche” in Real Estate called, “Active Adult Communities”. Many of these new planned communities have Golf Clubs, Club Houses, Swimming Pools, Fitness and Game Rooms among many active clubs and planned community events.

According to results from a study from National Association of Home Builders (NAHB) and Countrywide Home Loans, active adult home buyers want maintenance-free options like yard or grounds service and exterior home repairs. The study results indicate that while Baby Boomers and Seniors’ may plan on having more leisure time in their golden years; they don’t intend to spend it doing chores. Three out of four builders surveyed indicated that the quest for a maintenance-free lifestyle was their customer’s primary motivation for relocating to a senior’s community followed by the desire to be closer to children, grandchildren and family.

Some of the survey findings were:

1. Walking and jogging trails are the most desirable amenity, with roughly half of active adults and older seniors (52%) saying the presence of trails would seriously influence the home-buying decision. This number increases substantially for those with annual incomes greater than $75,000 (65%).

2. Outdoor spaces, especially park areas, could influence the buying decision of about half of the active adult and older senior households (51%). A park area makes an even bigger difference with households planning to relocate to a suburban area (up to 55%) than for those who prefer a rural area (44%).

3. Public transportation is a highly attractive amenity. Overall, 46% of all 55+ buyers would be influenced to move to a community based on the availability of public transportation. This number rises to 61% for those ages 75 and older. In addition, 52% of buyers with incomes less than $15,000 noted that public transportation could be a factor in their decision.

4. Open spaces are important to all seniors, more so than for other age groups. Around 46% would be influenced to move to a community by the presence of nearby open spaces such as park and recreation areas, playgrounds, land set aside by the builder or developer, and natural undeveloped land.

5. Lakes are very appealing to active adults, especially younger ones. In all, 44% mentioned lakes as key factors. That number dipped to 37% for ages 65 to 74 and 25% for 75 and older.

6. Outdoor swimming pools also are important, but their appeal decreases with the age of residents. Around 30% of survey respondents preferred an outdoor swimming pool, but this number drops to around 25% for older seniors.

7. Security guards at the gate were mentioned by 26% of respondents. However, only 16% considered a card-operated gate as a key factor.

8. Clubhouses were mentioned by 24% of respondents. That number rises dramatically for 55+ buyers with incomes greater than $150,000.

9. An exercise room was a factor for 21% of respondents, illustrating the importance of health and fitness among 55+ buyers.

10. The most popular feature and amenity was central heat and air conditioning, with 90% of builders including that feature in their seniors’ communities. Other common amenities were first floor primary bedroom, lever handle doorknobs, a full bath on entry level, and an attached garage.

11. Builders recognize that customers want homes that promote safety and a sense of security. Around 69% of builders included strategically placed streetlights, followed by a home security system (52%).

12. Convenience is a major plus for senior buyers. Three out of four builders built seniors communities close to shopping centers, and two-thirds built homes close to churches, hospitals, or doctor’s offices.

13. Around 60% of builders indicated that 50+ buyers prefer to pay cash for their new homes. Of the remaining, 27% opted for high down payments of 30% or more.

Every public opinion survey of older adults indicates that the vast majority desire to remain in their own home as long as possible. According to a recent AARP housing survey, 83 percent of older Americans want to stay in their current homes for the rest of their lives. They find their homes comfortable and convenient and feel secure and independent there. However, as people age, the design of their homes plays an increasingly important role in how they manage their daily activities. Homes that were perfectly convenient at age 55 can cause problems in later years, as diminishing physical abilities make daily routines more difficult without some design modifications.

Some factors to consider when choosing a new place to live or in assessing your current home for continued independent living include:

• Amenities – Does it have the style of living and comfort you desire? Is it in good repair?

• Location – Is it in a safe neighborhood? Is it convenient for shopping, doctor’s visits, church and social contacts? Is it close to your family and support group? Are recreational outlets available?

• Safety – Identify obvious hazards needing modification. Are windows/doors easy to open/close? Would a ramp be feasible if it became necessary? Can closet and cabinet items be easily reached? Can grab bars be installed in hallways and bathrooms? Is there a master suite on the main floor?

Baby Boomers and Seniors’ in transition are advised to be in touch with their current as well as their future needs. Home safety assessments will serve to enhance your comfort and increase the likelihood of independent living.

(Source: Association on Aging, AARP Life Answers & Universal Home)

You can also read NAHB’s release for an overview of the results or check out the complete Builder Study at . (Source: Seniors Housing e-Source)

Andrew Lasner is Realtor and a Senior Real Estate Specialist (SRES) at Keller Williams Preferred, Newtown PA. He specializes in residential and investment properties. He can be reached directly at 267-594-8838, Andrew1@ or .

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