Seniors going maintenance-free

Baby boomers and seniors may have more leisure time in their golden years than when they were younger, but they aren't planning on spending that time doing home maintenance chores, according to a study released April 29 by the National Association of Home Builders and Countrywide Home Loans.

The survey of home builders and developers, released during NAHB's Seniors Housing Symposium, reveals that three-quarters of buyers age 50 and up are searching for homes that provide yard or grounds service and exterior home maintenance. Moreover, the majority of them are likely to choose a location that is close to their current home.

"The study results affirm that baby boomers and older home buyers want a maintenance-free lifestyle, freeing them up to travel, socialize and pursue the active lifestyles they want to lead," said Kent Conine, president of NAHB and a home and apartment builder from Dallas. "At the same time, the study dispels the common perception that seniors prefer to move to traditional warm-weather retirement destinations like their parents did. An overwhelming majority of seniors want to live near their loved ones or in the communities where they have put down roots."

Among the top motivating factors for moving to an age-restricted, age-targeted or independent living community:

nearly half of buyers indicated a desire to be closer to children, grandchildren and family;

more than half of the builders in the 50-plus market are building single-family detached homes in 2002;

three out of four single-family homes for seniors started by builders during 2002 were one-story;

about half of builders built 50-plus senior communities in close-in suburbs in 2002, while 25 percent built in outer suburbs, 15 percent built in central cities and 11 percent built in rural areas.

about two-thirds of builders reported that their customers were relocating from the same community or the same state.

Builders noted that customers prefer homes that promote safety and a sense of security. Strategically placed streetlights and home security systems were included in more than half of the homes built.

Builders have responded to the fact that today's seniors are increasingly technologically savvy. Nearly 70 percent of them built communities with high-speed Internet service, while many included structured wiring and intercom or entrance phones.

Convenience is a major plus for senior buyers. More than three-quarters of the builders surveyed built 50-plus communities in close proximity to shopping centers, while many built homes close to churches or medical facilities.

"Builders need this type of information to meet the diverse needs of the growing seniors market," said Jack L. Haynes, executive vice president of the National Builder Division at Countrywide Home Loans, based in Plano, Texas. "The survey gives builders a better understanding of the demographics, tells them what type of home older Americans want and how these buyers can afford it."