A desire to age in place is increasing in popularity as a reason that older adults spend money to remodel their homes, according to data from the National Association of Home Builders.
“Desire to be able to age in place” has seen “the strongest and most consistent growth” among answers to the organization’s Remodeling Market Index, which tracks reasons that customers of remodelers cite for pursuing projects.
The index uses a scale of one to five, with five representing a reason that is cited to remodelers “very often.” Aging in place went from receiving fours and fives from 32% of customers in 2012 to 52% in 2018, “with a particularly abrupt 10-point jump between 2017 and 2018,” the NAHB said.
Specifically, aging in place received fours or fives from 32% of customers in 2012, 35% in 2013, 37% in 2014, 39% in 2016, 42% in 2017 and 52% in 2018.
“The uptick in aging in place is not entirely surprising, given the ongoing growth in the nation’s older population,” the NAHB said.
