According to a 2024 report from Leaf Home and Morning Consult, 73% of baby boomer homeowners have lived in their homes for more than a decade, and 55% say they have no plans to move.
The top reasons they give for staying in place include…
- No need to move (79%)
- Close to family (34%)
- Too expensive to move (33%)
- Low crime (25%)
- Weather or climate (18%
- Interest rates (12%)
The problem is, 68% of boomers live in homes that are 30 years old or more, and haven’t done many if any renovations… they are essentially living in a time capsule. That may become a home improvement problem if the market is flooded with these homes… but it also can be a health and safety issue while they continue to live in the home.
52% of those homeowners anticipated special needs within the next 5 years, looking to some renovations incorporating universal design elements such as…
- Kitchen updates
- Pullout cabinets
- Extra lighting
- Wide drawer pulls
- Appliances with Wi-Fi connectivity that can be controlled with a smartphone or tablet
- Additional universal design features throughout the house include…
- Nonslip floors
- Rounded countertops
- Wheelchair-accessible doorways/pathways
- Grab bars
- Lower fixtures
- Door levers instead of knobs
- Lower countertop height
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
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