Posted February 17, 2010

Metlife has released the second phase to Housing for the 55+ Market: Trends and Insights
on Boomers and Beyond.
  The study includes two surveys: one that
examines current consumer preferences and home buying decisions and a
second of National Association of Home Builder (NAHB) members involved
in 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.

  • The
    majority prefer the suburbs (32% close-in suburbs and 31% outlying
    suburbs). A rural community is preferred by 28%, and 9% want to live in
    a central city.

  • About one-quarter of respondents do not
    care 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 an
    environment-friendly home if it would save $1,000 annually in utility
    costs.

  • Most respondents listed proximity to a shopping center and
    proximity to a hospital/doctor’s office as influencing their choice for
    a new community.

  • Technology features, home security systems, and structured wiring  are important to consumers.

  • Builders
    indicated their customers’ motivations for relocating. Sixty-three
    percent reported a desire for a maintenance-free lifestyle, 46% want to
    move closer to children/family, and 32% desire lower living costs.

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