My maternal Grandmother, who was 84 at the time, broke her hip in her own apartment. Lucky for us, an attentive Meals on Wheels driver determined she was hurt and called for help. My Mom made the decision to move her Mother to a "retirement home" as soon as she was discharged from the hospital.
Our search was short lived ... there were only three assisted living facilities in Corvallis (Oregon, 1989) at the time. I remember thinking "there is no way there will be enough retirement homes for us baby boomers ... we will have to figure out an alternative solution".
There are approximately 76 million boomers born between '46 and '64 who are, or should be, thinking about where and how they will be able to age in place while considering proximity to:
- family
- health care facilities
- grocery shopping
- transportation
- entertainment and hobbies
- places to socialize
- senior support services
Consider this excerpt from the White House Council on Aging Report ...
"Beginning January 1, 2006, on average, a new 60 year old was celebrating a birthday every seven seconds, and these celebrations will continue for another 18 years. The impact of this demographic shift will affect every level of our social, economic and political systems"
I predict there will be a growing number of Last-Time Home Buyers in the near future. Their goal will be to create a living environment they will never have to say good-bye to. This can be accomplished in part due to the growing number of in-home care services and companies who sell and install home modification equipment.
The Last-Time Home Buyer will be smart to seek out help from a real estate agent who understands the fundamentals of Aging In Place. An agents knowledge of Universal and Barrier-Free design is extremely helpful to evaluate the potential of living space in an existing residential home.
Lets face it ... if you are a baby boomer like me, chances are slim to none there will be a bed waiting for us in an assisted living facility. It's going to be up to us to make our own beds ... and to sleep in them.
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Copyright © 2010 - 2013 All Rights Reserved
Cynthia Larsen
Broker/Owner - Safe Haven Realty
Sonoma County, California, USA
(707) 332-2560
Cynthia-I think your absolutely right, what an awaking, I want to build a house with detached wings where all my old friends can live.
Take care
agree, Cynthia...I've been taking a look at Universal Design Elements and their importance as we move time the last-timers... also...the idea of two(2) master suites...also the idea of multi-generational abodes...I will be watching yoru blog to see what you have to say on the subject. VERY INTERESTING THX!
Cynthia - what an excellent title. I am a baby boomer, and what you are saying is very close to home for me.
Suggested
Cynthia, you are so right! There is a huge market and developing need for the forever home....and it's certainly not the McMansion! I would love to see more builders take up the challenge of creating smaller, affordable, single story homes that, as you mentioned, are accessible to services. I think it will be one of the greatest real estate challenges of the next 15 years.
Adrian - yes, a compound with wheelchair roller derby!
Asheville - this is the first of many "aging in place" blog posts that I have planned. I've been stewing on them for a couple of years and it's finally time to let the cat out.
Jon - I've been obsessed with this line of thinking since 1989.
Marti - I like that expression ... the forever home. This will be a real estate challenge for sure.
I am hoping our home we built 4 years ago will work. No steps into house and 36 inch doors for easy wheel chair access.
This is a great post Cynthia. I wish I had thought of it. I moved in my current house in 2009 and I plan to sell by end of 2013 and then I'll be a last time homebuyer.
I hope to never have to rely on assisted living. Retirement communities, maybe. That's a lot more palatable than being a last time home buyer!
Rod - yes, the minimum door clearance is 32" but 36" is suggested. Halls should be 42". A wheelchair requires a turning radius of 60" ... don't even get me started on the bathroom!
Charita - good for you for planning your moves ... many don't even want to think about something like this. Too morbid.
Jayne - I know the term "last time home buyer" can be a turn off. By saying it, we are admitting our mortality. You know what they say about death and taxes. I want to be prepared, and I want my clients to be as well.
Cynthia -- when we were looking around to move my mom into an assisted living facility about 7 years ago, the one we thought we would like said they had a 2-3 year wait list. My wife took my mother up to see it anyway, and they had two openings that had come available that day.
Your comment about having homes we can stay in is what we looked at 14 years ago when were buying. Since then updated the bathroom with grab bars around the tub. But "ranch" homes (one story) don't seem to be on the builders' radar.
Cynthia
Excellent. This really is becoming more of an issue as the population ages. Even with the number of facilities in our retirement-popular area of SoCal there is not going to be enough in the future. And it is not always easy to find those homes that will work for someone who has age- or health-related issues that preclude them from using stairs.
It's an important issue to keep in mind, and avoiding the term "last home buyer' doesn't do anyone any good.
Jeff
Cynthia you have hit upon a huge issue. Though I could age in place in my current location it's not where I want to. So I am trying to decide where that will be and start looking for my last house soon.
Cynthia, A hot-topic for all baby boomers or it should be. Some people never plan to move.. they remodel to fit their need if they are in that ideal location where they want to stay. A really great subject to bring to the forefront.. Glad to see it featured.
Steven - it took 4 years on a waiting list to get my mother-in-law into her current apartment. And it isn't even assisted living, it's just for those aged 55 and over! We don't have nearly enough senior housing either!
Jeff - thanks. The boomer "first years" turn 66 this year ... yikes. It took a long time for me to say "last time home buyer" but I'm saying it pretty loud right now :)
Cindy - I'm wondering how many others are in your same situation ... they know they aren't ultimately where they want to age so they plan to move to another area. This could stir up a relocation phenomenon.
Cheron - Casitas are wonderful ... we have VERY few but I would like for it to catch on. I understand the "difficult" part of your comment :)
Don - it all comes back to location, location, location doesn't it? A home owner will modify their home to age in place, but what if their current home happens to be in the wrong City or State?
I'm a baby boomer towards the end of the boomer years..I have from time to time thought of where MY LAST HOME will be. Somehow I haven't come to that realization yet. I know in the next 5 yrs I'm going to. Man where did the time go? Enjoyed reading.
It's tough in our society because we don't have very good housing solutions set up, so you are either looking at homes/properties that can be comfortable for multi-generational families or low maintenance homes where people can live and age with dignity. The retirement homes are outrageously expensive, and if you need assisted living, that's even worse. I don't know the answer but this is a huge and serious problem.
Cynthia, I love this post. I have not seen the subject addressed in such an excellent manner. Not only for ourselves but to be able to offer better services and understanding to clients that are in that position. A very well thought out discussion. Love it.
Cheryl - LOL, I thought I was going to get hammered for using the title of this post. It could be looked at as being very negative, but I'm getting support for it. Thanks!
Francine - huge and serious is what I'm thinking too. I think some zoning might be changed, larger homes might become mini residential care centers. Another thought is going back to having room-mates, where two could share a modified home.
Judi - thanks, I think I know who sent you over here :) I've had this post in my head for a couple of years now. I'm glad to get it out ... now I can blog about all of the other aspects of aging in place.
Cynthia,
I had never heard this term before, but this certainly is a growing part of the marketplace.
Brian
I work with a lot of buyers lately who are, indeed, thinking ahead to their future lifestyle as they get older and are looking for (last time) home features.
they are building lots of "assisted living" communities in my area. Called "the cottages" they feature stand alone homes, and an assisted living home with "rooms". They will even deliver meals to the stand alone homes. It's a great concept, but you're right we're gonna need more and more of them.
I'll go live in Tammy's community. LOL You know, I've already have several clients who have bought homes based on the premise of your post! They look for things like: one-levels, master on the main, no steps, near family/doctors, close to public transportation, etc. Yup, it's happening!!
We've got one under construction in the town adjacent to mine right now. But they're going to be pricey! My folks are 85 & 86, still live on their own and don't fancy the idea at ALL about assisted living. When the time comes, we will no doubt do in home care, unless skilled nursing is required. They're in a 55+ community, but they are WAY too far from the doctors. We'll see how that goes.
We are starting to see some new building trends.. with an "in law" as part of the younger family member's home. It is a great idea. Also the coliving concept makes a lot of sense as well. I hope we see more and more of these types of options...
I shutter to think about what things will be like when I am ready to be taken care of in an assisted living place.
Cynthia, love this post and the discussion that goes with it. Being a baby boomer, this hits close to home for me. Hubby and I have thought often of where to go from here and sadly, there are not enough affordable options available to satisfy the needs of all the boomers out there. We're wishing that there were more intergenerational communities (not enamored of the idea of living only amongst old folks). I'll be parking to hear the input of some others.
You just can't argue with the demographers. Baby Boomer cohort is huge. Not sure how I feel about that name, "Last Time Home Buyers". Well I guess we gotta go sometime.
Cyndi...
Very interesting post and something to really think about. We always assume there will be a place for us but the numbers are very sobering indeed.
Useful and Barrier free are interesting concepts to consider. Have not heard the description before.
What a great observation. A wise builder would start a community for such a demographic.
Cynthia, our area has new-construction 2 bedroom, 1story homes targeted for our "older and wiser" population
Cynthia, we boomers have been defining trends ever since we were born. This is one of our last trends and what an excellent point of view. So true.
Sharon
Congrats on the feature! This is a great niche market in addition to being an excellent service area. It may even have a positive impact on the current market crisis. Thanks for sharing and have a great week.
Cynthia, yes, this is a looming problem that we'll all have to deal with at some time. It's easy to put it off and not deal with it, but that's a mistake.
So much truth to what you mention.
Great post, thanks for sharing it.
Cynthia, you are so correct. My Mother passed away 9 years ago this March. My family and I moved my Dad in our home. He will be 85 this year. Although he watches WAY to much Fox News. I would not have it any other way. I have received my "nursing" training in the mean time!! We do need to know where we are going.
Very well written and timely post, Cynthia. That is going to be such a huge niche over the coming years and having an agent who is sensitive to seniors' needs is imperative. Downsizing goes along with this.
Cynthia:
Boomers will be needing assisted living centers soon. My Mom was in an assisted living center and it was great for her. She didn't have to drive, cook or clean. It was heaven for her. And she had lots of friends.
Hi Cynthia,
I do see more builders tackling the issue with new construction of the 55 and over communities. Generally speaking culturally in America I don't like the way we put aside our elderly people in homes. The industrial age created a disjoint with family taking care of family unless absolutely medically necessary. Personally I look forward to a long life and a strong life. Good posit and BEST of SUCCESS to you this year!
Cynthia,
Very good post. Something to think about. I am a baby boomer myself. I have set myself up to live where I am currently for the rest of my life. No elderly living home for me or my wife.
Cynthia, this will be a tough problem for many. My Mother needs to be in such a facility but refuses to give up her independence.
Many retirement/assisted living facilities are not affordable for most. Many are really terrible. It will be a big problem.
Kudos to you for seeing a market segment to focus on and cultivate as their numbers will only continue to increase for years to come. It's a huge niche marketing opportunity and one that developers and real estate agents should proactively address and cater to. The rewards have great potential. I had professor in one of my college business classes once who had a phrase he'd repeat over and over...'to be successful, find a need and fill it' - this certainly seems applicable here! Way to get out in front of a trend that's destined to come to fruition in a big way!
Great post. I'm dealing with that myself right now. My mother is living with us in a house that's small for two people...bringing in her stuff has pretty much put us living in a closet. So, we're looking for a bigger place that's adaptable, accessable and affordable. Hopefully we can be "Last Time Home Buyers" IN A GOOD WAY! ;-)
We have been thinking about this too. Recently we were out looking at homes and I realized this could be the last home that we purchase. I am 49 and my husband is 53. I have a grown daughter (22) and we have 5 year old twins. In the past, when I have looked at property the though of retirement and having the right home for ageing in place as you say never entered my mind. Now I am torn because we do have small children and I want a place for them to play and spread out but also we want it to work for the future too...great and timely post for me. Thanks! :)
Cynthia aging in place is an approach many are embracing. Since a large number of consumers will have to come to term with this decision there is a great opportuniity for a real estate niche.
This is a great post and I am re-blogging it. My wife and I just had a conversation with her Mom about long-term care insurance, another very important component of what you're describing above, as it will cover needs of daily living at home or in a facility.
In my profession there are a whole demographic of borrowers who are reluctant to refinance again because they feel they will not, due to age, maximize the savings that are available. But when I try to explain that those savings can offset the expense of LTC or other later-life care, the benefits do become more clear.
This is a key issue of our time and it's not going to go away. Great job highlighting it so perfectly.
Cynthia You are so right. I am a baby boomer too & don't even want to think about being a last time homebuyer.It will be here soon enough
You are so right, and this is something that many of us need to start thinking about.
Cynthia, this is so true. This country is not yet geared up for an aging population. "Aging In Place" specialist" Sounds like a new real estate designation.
From the comments I've read here, plus the observations I've made moving around the country and visiting friends and family, this seems to be a regional issue. Those places that have always been destinations for retirement - Arizona, Florida, etc - are much more ahead of the curve on this than the rest of the country. I think it's a matter of educating builders in other parts of the country that not everyone is going to want to leave and go to the souther tier of states - most people like where they live now! It also takes some foresight on the part of city planners, etc., to recognize that there will be a demand for this kind of "all-in-one" community and learn from what the retirement-heavy areas are going.
Cynthia, I think that's part of the reason the patio home concept has picked up in popularity in our area. Nice amenities, convenient locations, and someone else can do the yardwork!
While I could not imagine living in an Assisted Living facility, I would not object to some communal housing project on the ocean where we can all hang out and listen to Jimi Hendrix. Of course, choosing a husband who is 11 years younger than me was a smart move on my part, LOL -- he can push my wheelchair around.
Brian - Not many folks are using this term, I wasn't sure if I wanted to embrace it or not.
Sue - good for you, listening to them will help us help future buyers as well.
Tammy - that sounds wonderful ... building here has almost come to a standstill and even then it wasn't on assisted living.
Carla - Tammy's community sounds wonderful ... oh, that Lake!! You could make this a niche in your area, Carla.
Karen - I think that our generation is much more open to end-of-life planning when it comes to housing. I've found that our parents tend to stay in their home as long as they can without any planning, then they end up where they end up. Sad.
Joan - the co-living makes sense in many respects ... it could be a space for in-home caregivers as well.
Lizette - I haven't seen you around for awhile ... thanks for stopping by! The whole Aging In Place concept is to keep us from needing assisted living.
Leah - You said something very important that I had removed from my post ... "sadly, there are not enough affordable options available to satisfy the needs of all the boomers out there". The boomer that starts planning now, before they possibly need to, will be rewarded with what currently IS out there. And I'm not just talking about retirement communities, I'm talking about a single level home, near shopping, near transportation, near doctors ... a house among a regular residential community.
Wayne - I don't think of the term as negative ... I think of it as VERY smart planning. I want to plan for and choose my last home, I don't want it chosen for me.
Richard - I realized there wouldn't be a place for me 23 years ago. I've had a lot of time to mull this one over.
Cheryl - Universal design, if done right, is not noticable. I'm sure you have it all around you. I'll be doing a post about that soon.
Catherine - we have a couple of them here, but there will never be enough. As buyers agents we need to be able to identify existing residential housing that can be modified to accomodate the type of access that is necessary.
Sonja - good to hear that ... I'm sure there will be a waiting list.
Sharon - yes, I see the boomers taking this issue by the horns and converting many homes to be compatible for those who wish to age in place.
Laurie - I see this as becoming a huge niche, one I am jumping in with both feet.
Lloyd - that is the main problem, I find that the generation ahead of us put things off to deal with later. I think the boomers are going to be pro-active with this one.
Anthony - thanks for stopping by
Joan - I've seen a lot of that lately, parents moving in with their boomer kids. Not everyone will have a child to help them out in later years, your dad is a very lucky guy.
Jane - This is a niche I have been mulling over for a few years. I think the ball finally started rolling.
Evelyn - that's just it ... the assisted living facilities will be full and boomers will have to revert to "plan B". I'm saying that "plan B" needs to become "plan A" ... and soon.
Jordon - The 55+ community is a choice, not one I would make. There won't be enough of those either.
Ron - good for you! You are one in a few ... I'm not in the home I plan to spend the rest of my life in, I'm one of those that hasn't decided exactly where I want to be.
Gabe - our parents today are in the mind set of "over my dead body" when it comes to going into a "home". The problem is, they don't make modifications to their own home to allow them to stay longer ... or forever.
Charlie - I couldn't have worded your comment any better. You certainly get it.
Monica - Perfect! You are WAY ahead of the game, this is exactly what I'm talking about.
Angelica - you have the perfect situation in front of you. You can accomplish both. Universal design is multi-generational, if it is done right, you won't even realize it is there. If you can find a place with enough elbow room for the twins, that elbow space could be converted later into larger rooms or possibly an area for an in-home caregiver to rest.
Jennifer - I am seeing the same thing. We already have a boom in businesses here ... in-home care giving and home modification.
Rob - thank you for a mortgage perspective on this one, I agree with you.
Joan - start thinking about it :)
Kathy - yes ... unless you want somebody else to make decisions for you later on in life when you no longer can.
Michael - there actually is an Aging In Place Specialist designation, it just isn't geared towards real estate.
Mary - I haven't been to Florida, but I'm aware they have been a senior destination for a long time. It doesn't surprise me that they have been doing this for decades.
BLiz - I thought about your Patio Homes when I was writing this post. Maybe it's a spin you can add to your marketing.
Elizabeth - LOL, while I was writing this post over a 3 day period, I put in the sentence "or you can do what Elizabeth did and marry a much younger man to take care of you". After laughing I deleted the line ... seriously!
This subject is coming up more and more in rentals and home purchases...My wife does care taking and people want to relax and stay a while....in that one place especially when they get older...good one Cynthia
I am seeing this more and more as the downsizers migrate back into the close in neighborhoods
Richie - I'm a caregiver as well, I volunteered for Hospice for two years. Hospice allows a person to stay at home and be peaceful instead of being in a crazy hospital environment.
Linda - the homes near "grocery malls" are becoming popular. With a large store as an anchor (like Safeway), there will be many small stores and restaurants that can pretty much take care of every need except a doctor.
In the next 20 years there will be a huge change that is for sure. My Mother just purchased her last home. A ranch with room for someone to live with her when the need arises.
Jo - perfect ... a space for caregivers is important, your mother made a great decision.
Smart post, and timely. It's an issue we can't ignore. i intend to stay super healthy and yes, already we are imagining what our "last home" will look like when the need arises. My folks live next door us - that's how we're dealing with the first part of this aging issue. Congrats on the feature.
Debb - your parents are darn lucky to have you so near. Good for you for planning ahead!
I have gone through most of your series. Good job. You brought up things I would not have thought of. I like the 55+ communities we have around here for the seniors. They think of a lot of these things for us.
Gene - we don't many 55+ communities here ... there will have to be some home modifications in the near future, the subject of my next post.
I have 5 kids and have already told them that I intend "to be a burden to at least one of them" lol. Seriously, this is an important subject and one that should be addressed.