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.
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
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.
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.