Aging-in-Place Market a Bright Spot for Housing

Aging-in-place renovation work is expected to provide one of the bright spots for residential construction as the recession-battered industry eventually begins gaining ground, according to panelists at last month’s Remodeling Show in Baltimore. They also pointed out that communication with elderly home owners will be key to success in this segment of the marketplace, and that is why builders should consider teaming up with occupational therapists.
Members of the post-World War II baby boom are fast approaching traditional retirement years with the advantages of a longer life, more wealth and better education than previous generations, said Michael O’Neal, an urban sociologist with AARP, and surveys by his organization suggest that the great majority of this population will be looking for remodeling jobs that enable them to continue living in their existing homes.
By 2030, there will be more than 70 million Americans who are 65 and older, more than twice as many as today, O’Neal said. The first boomer turned 60 in 2006 and the last will turn 65 in 2039.
‘A Tough Sell’
While the outlook for aging-in-place remains strong, Bill Owens, president of Owens Construction in Columbus, Ohio, noted that it “can be a phantom market.”
Aging-in-place can be “a tough sell,” he said, and builders need to emphasize great design opportunities. “You cannot sell cod liver oil,” he said. “Have your universal design glasses on all the time,” and if done right, universal design principles can be brought into the home unobtrusively.
Seniors in the 60-to-70 age bracket tend to be most receptive to the idea of remodeling so that they can continue to comfortably reside in their existing homes, he said, but that willingness begins to fade by age 70 to 75. Boomers, who will represent the majority opportunity for these jobs as they increasingly get older, are already key influencers, he said, in making decisions for their parents.
Working With Occupational Therapists
AARP’s O’Neal said that remodelers should understand that elderly home owners might not understand what a contractor is telling them when going through the house. This occurred when his father, who is hard of hearing, was in the process of getting a new roof.
OTs can help contractors determine what needs to be modified in the home by evaluating the client’s physical and emotional strengths and limitations as well as medical conditions that have an impact on how they function — often after an illness or injury — and what can be expected as they continue to age, said Chase.
Panelists recommended CAPS (Certified Aging-in-Place Specialist) training from NAHB for builders who are considering diversifying into the aging-in-place market.
For more information about resources available from NAHB, e-mail Kelly Mack, or call her at 800-368-5242 x8451.
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