Right House, Right Place, Right Time Home Community & Lifestyle Preferences of Boomers & Seniors

by Wylde, Margaret A.

• ISBN13: 9780867186284
• ISBN10: 0867186283
• Format: Paperback
• Copyright: 2008-01-01
• Publisher: Builderbooks

Summary

Are you prepared to meet the housing needs of the nearly 70 million home buyers ages 45+? These educated, experienced consumers have the time and the resources to move on a whim or purchase a second home. Do your homes and communities have what it takes to win their attention?

Author Biography

Margaret A. Wylde, PhD, heads ProMatura Group LLC, an international research firm

Table of Contents

List of Figures	p. viii
List of Tables	p. xiii
Preface	p. xv
Acknowledgments	p. xvii
About the Author	p. xix
About 45+ Housing Consumers	p. 1
Who They Are
45+ Middle-American Housing Market Sectors	p. 7
Key Demographics of 45+ Middle-American Households	p. 11
Homeownership Among 45+ Middle-American Heads of Households	p. 17
Where They Live
Home, Location, and Satisfaction With Current Residence	p. 29
45+ Renter Households	p. 41
Movers: Those Planning to Move and Those Who Moved Recently	p. 49
What They Want
Preferences for Location, Home Site, and Community	p. 61
Preferences for the Style and Appearance of a Community	p. 67
Community Amenities	p. 85
Home Preferences: Footprint, Floor Plan, Style	p. 93
Rooms and Spaces in the Home	p. 111
What Home Buyers Expect, Want, and Will Pay	p. 119
Afterwords	p. 125
U.S. ZIP Code Regions	p. 127
U.S. Census Regions	p. 129
Glossary	p. 131
References	p. 133
Index	p. 135
Figures
Introduction. About 45+ Housing Consumers
Percent of households who own homes by the age of the head of household	p. 2
45+ Middle-American Housing Market Sectors
Percent likely or very likely to move from their primary home in the future, by income	p. 9
Percent likely or very likely to move from their primary home in the future by U.S. Census region	p. 9
Proportion of future movers by the type of community they prefer: active adult or all-age	p. 10
Proportion of future movers by the amount they plan to spend	p. 10
Key Demographics of 45+ Middle-American Households
Percentage who own their homes, by marital status	p. 12
Marital status and income	p. 12
Marital status and whether respondents moved in past two years, will move within five years, will move sometime in future, or will never move	p. 13
Employment and place of work	p. 14
Number who live in home, by age-group	p. 15
Percentage with limitations, by income	p. 16
Homeownership Among 45+ Middle-American Heads of Households
Home equity by age-group	p. 18
Home value by ZIP Code region	p. 19
Percent of respondents by estimated home value and equity	p. 19
Home value by highest price respondents were willing to pay for a new home	p. 20
Percentage who own their primary homes free and clear or have traditional fixed-rate mortgages by age-group	p. 21
Ownership of primary home, by income	p. 22
Mortgages or other financing of primary home, by income	p. 22
Number of homes owned in a lifetime, by age-group	p. 24
Number of homes owned at time of survey	p. 24
Home, Location, and Satisfaction With Current Residence
Location of current home by age-group	p. 30
Specific type of community age-qualified owners and renters lived in	p. 30
Type of residence by tenure in home	p. 31
Type of residence by ZIP Code region	p. 32
Home size by ZIP Code region	p. 33
Number of bedrooms in respondent's residence, by location in active adult or all-age community	p. 34
Number of bathrooms in 55+ home owner's residence, by location in active adult or all-age community	p. 34
Percentage of home owners with stairs to reach their bedrooms, by home owner's age	p. 36
Percentage of home owners with stairs to reach bedroom by ZIP Code region	p. 36
Percentage of homes with basements by ZIP Code region	p. 37
Percentage of home owners by age-group who were very satisfied with their homes, neighborhoods, and towns	p. 38
Percentage of home owners who were very satisfied with their homes, neighborhoods, and towns, by ZIP Code region	p. 38
45+ Renter Households
Renters by type of age-qualified community	p. 42
Percentage by type of residence and age-group	p. 43
Percentage by size of rental residence (sq. ft.) and age-group	p. 44
Percentage by annual household income and size of residence	p. 45
Percentage by residence size and U.S. region	p. 45
Renters by type of housing and number of years in residence	p. 46
Percentage by region and number of years in residence	p. 47
Percentage of renters, by age-group, who were very satisfied with their homes, neighborhoods, and towns	p. 47
Renters by income and satisfaction with residence	p. 48
Movers: Those Planning to Move and Those Who Moved Recently
Percentage who agreed that "I would prefer to live in my own house even if it meant that I would spend most of my time alone"	p. 50
Responses by age-group to the question: "How likely is it that you will move from your current primary home in the future?"	p. 51
Likelihood of moving in the future, by annual household income	p. 52
Likelihood of moving, by ZIP Code region	p. 53
Percentage, by age-group, that said wanting a larger, smaller, accessible, new, or low-maintenance home was a primary or secondary reason for moving	p. 54
Percentage planning to move or who moved that said wanting a larger lot, smaller lot, or no lot was a primary or partial reason for moving	p. 54
Percentage planning to move or who moved that said wanting a better neighborhood, better security, or community amenities was a primary or partial reason for moving	p. 55
Percentage planning to move or who moved by age-group that said wanting a better neighborhood, better security, proximity to family, or proximity to shopping was a primary or secondary reason for their move	p. 56
Percentage planning to move or who moved that said change in health, marital status, family size, retirement, or a job was a primary or partial reason for their move	p. 57
Miles moved, by region	p. 58
Preferences for Location, Home Site, and Community
Where respondents are most likely to purchase a home	p. 62
Home site preferences	p. 62
Community or neighborhood preference, by age-group	p. 63
Community or neighborhood preference, by income	p. 64
Percentage planning to move to fenced, gated, or guard-gated community, by region	p. 65
Percentage by income planning to live in golf course or resort-style community	p. 66
Preferences for the Style and Appearance of a Community
Importance of upscale entrance, by income	p. 69
Importance of upscale entrance, by preference for active adult or all-age community	p. 69
Importance of upscale entrance, by highest price home buyers were willing to pay	p. 70
Importance of upscale entrance, by ZIP Code region	p. 70
Importance of upscale landscaping, by income	p. 71
Importance of upscale landscaping, by highest price home buyers were willing to pay	p. 72
Importance of upscale landscaping, by community preference	p. 72
Importance of upscale landscaping, by preference for active adult or all-age community	p. 73
Importance of upscale landscaping, by ZIP Code region	p. 73
Importance of front yard upkeep, by community type	p. 74
Importance of front yard upkeep, by preference for active adult or all-age community	p. 75
Importance of front yard upkeep, by ZIP Code region	p. 76
Importance of diverse home styles, by income	p. 76
Importance of diverse home styles, by community preference	p. 77
Importance of diverse home styles, by preference for active adult or all-age community	p. 77
Importance of diverse home styles, by ZIP Code region	p. 78
Importance of green or open space, by highest price home buyers were willing to pay	p. 79
Importance of green or open space, by ZIP Code region	p. 79
Importance of mature trees, by income	p. 80
Importance of mature trees, by ZIP Code region	p. 81
Preference for neighborhood design, by ZIP Code region	p. 82
Importance of sidewalks, by community preference	p. 82
Importance of sidewalks, by preference for active adult or all-age community	p. 83
Importance of sidewalks, by ZIP Code region	p. 83
Community Amenities
Importance of walking trails, by ZIP Code region	p. 87
Importance of walking trails, by highest price home buyers were willing to pay	p. 88
Importance of outdoor heated swimming pool, by ZIP Code region	p. 88
Importance of outdoor heated swimming pool, by highest price buyers were willing to pay	p. 89
Importance of outdoor swimming pool, by ZIP Code region	p. 90
Importance of outdoor swimming pool, by highest price home buyers were willing to pay	p. 90
Importance of indoor heated swimming pool, by ZIP Code region	p. 91
Importance of indoor heated swimming pool, by highest price buyers were willing to pay	p. 91
Importance of a dog park, by ZIP Code region	p. 92
Home Preferences: Footprint, Floor Plan, Style
Percentage who prefer a basic home with maximum square footage for the money, by preference for active adult or all-age community	p. 94
Percentage who prefer a basic home with maximum square footage for the money, by ZIP Code region	p. 94
Percentage who prefer a smaller home with everything top quality, by preference for active adult or all-age community	p. 95
Percentage who prefer a smaller home with everything top quality, by ZIP Code region	p. 95
Percentage who would trade single-family home for multifamily home if it allowed them to move to a more desirable location or have nicer home features	p. 96
Percentage who would trade single-family home for townhome or condominium, by ZIP Code region	p. 97
Buyers' home preferences, by age-group	p. 97
Buyers' home preferences, by highest price they were willing to pay	p. 98
55+ buyers' home preferences, by preference for active adult or all-age community	p. 98
Buyers' home preferences, by ZIP Code region	p. 99
Floor plan preferences, by desire for active adult or all-age community	p. 100
Floor plan preferences, by ZIP Code region	p. 101
Preferred home size	p. 101
Number of bedrooms desired, by highest price home buyers were willing to pay	p. 102
Number of bedrooms desired, by ZIP Code region	p. 103
Importance of enclosed garage	p. 104
Number of garage spaces desired	p. 104
Number of garage spaces desired, by preference for active adult or all-age community	p. 104
Number of garage spaces desired, by home preference	p. 105
Importance of enclosed garage, by highest price home buyers were willing to pay	p. 105
Importance of enclosed garage, by ZIP Code region	p. 106
Importance of a basement	p. 106
Importance of basement, by ZIP Code region	p. 107
Importance of basement, by preference for active adult or all-age community	p. 107
Likelihood of purchasing a universal-design home	p. 107
Likelihood of purchasing a universal-design home, by age-group	p. 108
Likelihood of purchasing a universal-design home, by preference for active adult or all-age community	p. 108
Likelihood of purchasing a universal-design home, by ZIP Code region	p. 109
Rooms and Spaces in the Home
Owner's suite bathroom bathing fixture preference	p. 112
ZIP Code Region Map	p. 128
Tables
Introduction. About 45+ Housing Consumers
Number of 45+ households in the United States: 2007 and 2012	p. 2
Rooms and Spaces in the Home
Percent who said specific bathroom features are important	p. 112
Percent who said specific kitchen features and upgrades are desirable for residence	p. 113
Percent who said additional rooms and spaces are desirable for residence	p. 114
Percentage range of 45+ middle-American housing consumers who want home systems	p. 116
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