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AARP Survey: Boomers Plan to Stay in Current Homes
It may be a little more difficult for new home buyers to pry a home away from an empty nester since many of them are now making modifications so that they can continue living and aging independently. According to a survey released by AARP earlier in the year, nearly one-third of middle-aged and older Americans say they are making changes to their current homes so that they can live in those homes longer, rather than buy a new house or downsize to an apartment.
"Contrary to general thought, AARP's survey indicates that Americans who are 45-plus are not looking to downsize or leave their current homes as they prepare for or enter retirement," said Elinor Ginzler, AARP senior vice president for livable communities.
Ginzler adds that they are literally fixing to stay, improving their homes in order to stay there longer, and largely overlooking the drop in home values.
"Call it cocooning or nesting, boomers and their parents are digging in and staying put," she says.
Of course, this shouldn't come as a surprise to many of you who have been reading our blog and Forever Home newsletter. Many seniors and people with disabilities know that they can stay in their homes, increase their quality of life, and remain independent. Certified Aging-in-Place Specialists (CAPS) like Home Evolutions are in this business to help people like this.
The survey also indicated that unlike many other Americans, baby boomers do not appear to be worried about losing their homes. Many of them have their homes paid off, but they are fretting about the effects of the housing slump and foreclosure crisis on their neighborhoods (64 percent) and the U.S. economy (89 percent). A top concern is the risk of crime in areas with high numbers of foreclosed homes, which was on the minds of 69 percent of respondents.
The research for this survey was conducted in April, when the AARP Economic Survey interviewed a random sample of 1,002 Americans aged 45 and older. The margin of error was plus/minus 3.1 percent.
For more details on "The Economic Slowdown's Impact on Middle-Aged and Other Americans," visit http://www.aarp.org/research/economy/trends/economy_survey.html.
