Ageing-in-place gaining preference over retirement home living

There is a near universal desire by today’s seniors and baby boomers nearing retirement, to age-in-place; that is, to stay in one’s own home and community safely, independently and comfortably–regardless of age.

Here are a few compelling Aging-in-Place growth statistics as blogged by Immersion Active:

  • Aging-In-Place is the fastest growing sector of the senior care industry. (Freedonia Group, 2012)
  • Nearly 90 percent of seniors want to stay in their own homes as they age. (AARP, 2011)
  • 91 percent of pre-retirees age 50 to 65 responded that they want to live in their own homes in retirement.  Of that group, 49 percent want to stay in their current homes, and 38 percent want to move to new homes. (MetLife, 2010)
  • The NAHB predicts that ageing in place remodelling market to be $20-$25 billion.  That’s about 10 percent of the $214 billion home improvement industry.
  • Assistive technology for ageing adults to grow from $2 billion today to more than $20 billion by 2020. (Aging in Place Technology Watch, 2012)

There will always be a market for retirement home living, particularly for the elderly, where special facilities may be needed. However, home builders and renovators should study the principles of age-friendliness to ensure their structures can meet the needs of their ageing consumers.