Seniors: What Do Retirees Want?

 We have been talking a lot about downsizing this past year and it looks like the trend is here to stay.  Survey firms are coming up with interesting data and making recommendations to the housing industry.

 

The Herald (Market Watch) on February 14, 2010 posted an article called “What Retirees Want,” which noted that golf courses are out and practical living is in.  It wasn’t too long ago that the retirement dream home overlooked a golf course in the dessert, but this trend seems to be biting the dust.  Recommendations these days are more apt to be for locations near bike paths and walking trails.

 

Blame it on the economy.  Downsizing is a trend taking hold among current retirees, which is including the older baby boomers.  In the past, moving to a warmer climate was high on the priority list but today “cost of living” is the most important consideration.  Florida, Arizona and California are still high on the list but other states are also being given serious consideration.  Between 30 ad 40% of retirees still plan to move into new homes and a good half of them plan on moving to a new state.

 

What’s out?  Separate showers, exercise rooms, sun rooms, wood burning fireplaces, island work areas and other luxury items are low priority for the older buyer.  Today, the 55 plus buyer is interested in practicality vs. luxury, with a preference for storage space, security systems, energy management and easy to use controls.  The older buyer is more frugal but they want features that will make their lives easier.

 

Popular features favored by seniors, according to Market Watch, include: Washers and dryers, storage space, windows that open easily, nonslip flooring, wider doorways, entrances without steps, grab bars in the bathroom, bigger bathrooms, attached garages and first-floor master bedrooms.  Sound familiar?  These are accessibility features and well worth considering when you are buying a home or remodeling your present one.