Lexington, KY - No question, America is aging quickly. In 2011, the first wave of over 75 million baby boomers will hit 65, and for many, retirement will not be an option. Not only will they live longer, but they will remain in the work force. Overhauling housing and health care are without a doubt two of the most important challenges that are facing the current administration. A coordinated and efficient approach to housing and health care services for this generation relies on new standards and practices that must be implemented for a successful outcome. These issues are heavily intertwined, and as we all acknowledge, will be a difficult goal to accomplish.
According to the American Association of Retired Persons (AARP), 89 percent of people over the age of 50 wish to remain in their homes indefinitely, a trend known as "aging in place." Regardless of age or ability, they choose to be secure in their settings, familiar with their objects, and content with their routines. New surroundings, loss of independence, and coping with decreased capacity and stability that goes with aging can be difficult. The thought of moving into a retirement home or being institutionalized is often feared, isolating and humiliating.
But time cannot be stopped, and the aging process continues. So what alternatives can the housing market offer us?
A concept known as "universal design," which has been around since the 1970s, was designed by a wheelchair-bound architect who thought buildings should be designed for everyone, regardless of age or ability. Many boomers aren't ready for their home to appear like a nursing home. Several are still taking care of elderly parents in their homes, and even more are having their adult children move back. What they are ready for is functionality and aesthetics that coexist.
AARP polled the National Association of Home Builders (NAHB) and reported that 75 percent of contractors reported an increase in requests for aging-in-place work. They stated the aging population is the number two issue to affect the remodeling industry over the next five years, only behind the availability of skilled labor. Prime examples of some changes that are being incorporated into homes are: Open floor plans; stairless entryways; levered door handles; first floor master bedrooms; wider doorways and hallways; light switches, outlets, and thermostats no higher than 48 inches; handrails on all steps; and bright lighting. Bathrooms equipped with higher toilets, multi-level countertops, grab bars and walk-in showers to accommodate wheelchairs are high on the list as well.
Of course, it's always less expensive to have these features built in at the onset of construction rather than during a remodel. It's never too late to start planning ahead. More than 1.2 million households are choosing to move to communities designed to meet their needs, according to a recent report released by the NAHB and the Metlife Mature Market Institute (MMI). By 2010, boomers will represent one-quarter of the U.S. population - a group that significantly impacts the choices available in today's housing market.
At least one local company has already been successful in their planning efforts recognizing the changing trends: Atchison-Heller Builders.
"Our Lifestyle Communities target this active adult market of baby boomers that will continue to expand for the next 10 years. Our floor plans and our options are designed to accommodate an aging population and can be customized to suit the lifestyle our buyers have now and plan for any future they might contemplate," said Atchison-Heller principal John Atchison.
Atchison-Heller's first community of 99 residences in The Tradition at Park's Edge, next to Jacobsen Park is 80 percent complete, and its second community of 120 homes, the Village at Rabbit Run, is 50 percent complete. One of the initial selling points for many home buyers, according to Atchison, is the exterior maintenance handled by property managers.
"They are ready to eliminate that burden of homeownership from their life," Atchison said. "They want to turn that responsibility to someone else. Ö One of our homeowners commented that he was a much better lawnmower than golfer because he had a lot more practice at mowing; now he was spending that time golfing and he much preferred that to his old life."
So if you are one of those 75 million baby boomers thinking about downsizing, remodeling, or planning to build that retirement home, as you age, your needs will definitely be shifting, with a heavy emphasis on life style. Whether your priorities will focus on a community close to family, employment, medical care, or active living, much will also depend on the economy and one's own resources.
Jennifer Mossotti, CCIM, is a Realtor with Prudential de Movellan Real Estate and former LFUCG Councilmember.