Housing comes in many forms. Some of it is new construction, and there are many people who desire to have a new home – for a variety of reasons. They may want something new – that has never been occupied previously or had anyone else in it other than the people who built it. They may like the idea that it comes with many warranties – from the builder as well as the manufacturers of various products and systems that have been used in the construction of their new home.
They may like the idea that they get to select their features and colors, that it may have a better chance of appreciation, and that it is located in a desirable neighborhood with recreational amenities and other natural features.
Some housing consists of rental units in the form of single-family homes or apartments. People may select these while they save for an eventual down payment on a future home purchase or because they enjoy not caring for a home in terms of normal maintenance. They may prefer the freedom of being able to move frequently without marketing their home first.
Arguably the largest housing segment is comprised of people who already have a home and have no desire to acquire another one. They want to continue living where they are right now – regardless of their current age, family situation, age of their home, or how long they have lived in it. This is the aging-in-place market that we are committed to working with and helping.
Aging in place comes about in many different ways, but the bottom line is that people want to remain in their current home. It may serve their needs perfectly as is. It may be real close. It might serve them better with a little TLC or renovation. It might need a lot of work, but the neighborhood, the size of their investment, and other factors make moving rather impractical for them. Regardless, they do not desire another home.
Even if they did want to move into a different home, many people simply cannot afford to replace what they have now – to get the same size home or layout for the money they spent on their current home. It would take considerably more to replace it, so they remain where they are.
Others – in fact, most people – have such an accumulation of stuff that it makes the prospects of packing up everything they have and moving someplace else with their stuff seem quite tall. Some cannot part with what they have and don’t see moving as the answer to their space issues. Others know that it would take an inordinate amount of time to sort through and cull what they have. From some, it would be too traumatic to even try. Better just to remain put.
For those who have the home they want to remain in, it doesn’t matter if the initial objective was to find a long-term home, or it just happened. The fact is that aging in place is real. Those of us who provide services to people who want to remain in their homes – such as safety makeovers, accessibility renovations, room additions, new products and finishes, technology, or modernization – there is a huge market who needs our help.
More so than people shopping for new homes, people looking to move into an existing home, or people renting, people who have elected to remain where they are and age-in-place is dominating the housing landscape.