Metlife has released the second phase to Housing for the 55+ Market: Trends and Insightson Boomers and Beyond. The study includes two surveys: one thatexamines current consumer preferences and home buying decisions and asecond of National Association of Home Builder (NAHB) members involvedin 55+ housing in 2008 and 2009.
Key findings include:
- 63% plan to age in their current homes, 12% plan to buy another home, and 26% are unsure.
- Themajority prefer the suburbs (32% close-in suburbs and 31% outlyingsuburbs). A rural community is preferred by 28%, and 9% want to live ina central city.
- About one-quarter of respondents do notcare about the impact building a home has on the environment. While 23%said they are concerned, it does not drive their decision. Only 12%said they are willing to pay an average of $6,732 for anenvironment-friendly home if it would save $1,000 annually in utilitycosts.
- Most respondents listed proximity to a shopping center andproximity to a hospital/doctor’s office as influencing their choice fora new community.
- Technology features, home security systems, and structured wiring are important to consumers.
- Buildersindicated their customers’ motivations for relocating. Sixty-threepercent reported a desire for a maintenance-free lifestyle, 46% want tomove closer to children/family, and 32% desire lower living costs.