Housing trends come and go. They influence the way that people buy homes in the present, though. Today’s senior housing trends are nothing less than extraordinary. They show how very different things were for the older population just a decade ago.
2020’s senior housing trends provide valuable insight into the world we live in today. With new technologies and the economy influencing people’s day-to-day lives, it only makes sense to be aware of which companies and factors shape the housing market.
We’ve included some of the top senior housing trends for 2020 below. You’ll see how they affect the older population and their families. The financial impact of the trends is also a factor and discussed here, so you better understand how money and other outside influences contribute to where a senior chooses to live. Technology and the gig economy has changed the way that people go about their daily routines, making it far easier for older Americans to live on their own with less human assistance.
The Demand for Independent Living Facilities is Dwindling
Active adult communities have a different business model than most independent living facilities, which are very expensive to maintain. Developers are showing less interest in independent living because of its high operational and dining costs paired with shorter stays. Assisted living gives a better ROI because of its constant demand and needs-based caregiving. Individuals who want to continue to live independently choose to do so in cities with older adult populations versus moving into local retirement homes.
Home Delivery Services are A-Okay
The gig economy benefits seniors in many ways. Those who are homebound find it incredibly easy to order food online and have it delivered to their homes. Even if a restaurant doesn’t offer delivery services, DoorDash, UberEATS, and GrubHub do. Seniors quickly overcome a barrier to living independently, thanks to the abundance of these types of services. Seniors can have prepared meals and groceries delivered to their homes in record time. They no longer need to drive or make arrangements for transportation services unless they require them.
Smart Home Features Increase Autonomy
Seniors who wish to remain autonomous can do so with greater ease thanks to smart home features created to make life easier. From timed alerts reminding them to take their medicine to security cam systems that allow them to view their homes while they’re away from them, older Americans have options. A Pew Research Center study from 2017 noted that 90 percent of households have at least one voice-controlled or app-controlled ‘smart’ device in them.
Following Trends Helps Seniors Make the Right Decision Concerning Housing
The top trends in housing for the year impact seniors’ lives. They dictate where people will live and what types of housing options are made available to them. The forecasted trends provide valuable insight into what to expect in the future, too, as workers plan to retire from the workforce. It gives them an idea of how to financially prepare for the life they always hoped they would live as they grew older.
Stay up to date on the latest real estate trends.
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