The rapidly emerging demographic has led the home industry to begin transitioning from the traditional form of real estate development into methods that essentially cater to the needs of seniors. According to the United States of Census Bureau, 100 million U.S citizens will be 50 years or older. Many of these seniors are now starting to shift away from larger homes in which the have spent years to more affordable accommodations. Therefore, real estate developers are right now clambering to provide housing that meets the need of this blossoming demographic.
Senior housing designers are not just conforming to the new condition because of the massive size of the senior population on the horizon, but also due to the significant purchasing power of this generation. The younger generations, on the other hand, are relatively poor in saving their hard earned money while senior generations are quite smart in saving their earnings and paying down any dept as quickly as possible. Consequentially, while many younger homeowners are investing their earnings to pay heavily leveraged home mortgages, senior homeowners are focused on utilizing their savings and equity in their current homes to purchase the property in which they plan to shift post retirement.
Given the disparity between the approaches, the housing industry is also adopting measures to shift away from the existing assisted-living facilities to communities that offer seniors more independence and freedom. The larger generations that were born shorty after the World War II are frequently moving into planned unit developments and gated communities where regular payments are made to the governing Homeowner’s Association (HOA) that equip them with a whole lot of amenities that need the most. HOA will often maintain a homeowner’s place, roof, and home exterior, while also ensuring utilities, security and common areas such as club houses, pools, golf courses, tennis courts, community activities, and walking trails.
Other developments specifically include areas where many seniors would live people sharing similar interests. These baby boomers can also open a grocery store, a pharmacy, restaurants, and engage in other community activities that can help with the eventual transition to assisted-living facilities. They are also getting increasingly drawn to communities that offer the mobility, convenience, amenities and freedom to maintain rich and active lifestyles as opposed to institutional and more sterile clan equipped with the more traditional models of senior housing facilities. Quite understandably, all these factors are combined to result in Nogales St Revitalization Hoffman Estates IL.
In lights of such dynamic, a recent survey conducted by the Internet Home Alliance Research Council indicates that 63% of seniors have home offices in their new homes, while around 70% enjoy broadband internet access at home. Gone are the days of studio apartment style senior living. The vast majority of seniors is looking for adequate space offered in homes with at least two bedrooms and full-sized kitchens. These findings clearly show the desire of baby boomers to maintain their connection with the world and further improve their preferred lifestyles.
It is evidently clear that seniors and baby boomers are expecting longer lives and better health and mobility than previous generations. Consequentially, the housing industry has begun to adapt themselves in order to meet the needs of the population with housing that will nurture the environments and lifestyles these groups require.