Baby boomers may be retiring, but their youthful attitudes are giving them a new perspective, which has translated into a shift in the housing market. Instead of selling their homes as their parents would have, boomers are making essential renovations and upgrades to ensure that their homes are ready to accommodate them in the aging process. Let’s take a look at some of the most popular changes this generation is making!
- Turning Downstairs Spaces into Living Areas. As the body ages, it undergoes changes that often make it difficult to go up and down stairs on a daily basis. Therefore, homeowners who are preparing their homes to accommodate them in their aging processes are renovating their downstairs spaces to become their new headquarters. Homeowners who used to have offices and bedrooms on the second story have undertaken renovations so that all their daily living can be done without the strain of climbing stairs.
- Installing Smart Home Devices. Many baby boomers, who make up the majority of the generation transitioning to old age, are installing smart home devices to simplify their lives. Contrary to how society often depicts the boomer population, they are quite tech-savvy and are major consumers of smart devices, such as virtual home assistants, such as Alexa, and self-monitored stoves. Virtual home assistants offer simplicity for these seniors when they are seeking information online. This home tech also connects to lighting systems, alarm systems, and the thermostat – now all of a home’s electronics can be controlled with a simple voice command. The installation of self-monitoring stoves also works to help improve safety – these stoves can sense whether or not they’ve been left on or if the temperature is getting too hot. If a self-monitoring stove senses an error, it can automatically shut itself off.
- Upgrading to Improve Energy Efficiency. Living in retirement often means living on a budget, so every saved penny is essential. Many homeowners entering this stage of life are upgrading various aspects of their home in hopes of reducing the costs of their day-to-day living. They’ve taken steps that include installing double-paned, energy efficient windows to reduce the amount of heat that escapes in the winter and the amount of cold air that escapes in the summer; exchanging old lights with new efficient ones – some which even run on timers to ensure that they are turned off during sunny and sleeping hours; replacing air conditioners and water heaters with new models that are designed to reduce environmental impact; and, of course, trading outdated kitchen appliances for eco-friendly ones. By making these investments, individuals aging at home are creating opportunities for long-term savings.
The Challenges with These Upgrades
Many baby boomers live in the same homes they’ve occupied for decades, which means they are still using ancient appliances that demand an excess of both time and money to replace. On the plus side, this allows homeowners to make renovations specific to their wants and needs. However, on the downside, many homeowners cannot afford to commit an exuberant amount of money and time to making these changes – they’d often rather spend their resources on the vacations they’ve been saving for retirement!
Therefore, plenty of homeowners are taking a different approach and are selling their homes, hoping to move into one with upgraded appliances already installed. When purchasing a newer home, such upgrades are typically expected from contractors, and the mass production of new equipment is driving down costs, allowing homeowners to purchase homes at a lower rate. In addition, some boomers are moving into one-story homes in an effort to remove all the hassle that comes with maintaining a two-story home. Not only will the downsize reduce their costs, but it will save them the time spent doing the chores involved with keeping a second story clean.
Making The Move
Are you in search of an elegant, simple solution that will land you in a perfect one-story home with all of the essential upgrades for making life easy? Well, we have the answer: sell your home to an all-cash buyer and quickly earn the capital to make your move. By taking this route, you can avoid the hassle of selling on the market, which allows you to skip the stress of working with a real estate agent and making the essential upgrades needed to sell. You can sell your home – NOW – as-is and receive an-all cash offer. To learn more, contact us, and we can guide you through the process of getting out of your home and into a new one – one that is well-equipped to ease you into aging at home!