A couple of newly released surveys suggest Americans can expect to see more
development -- more so-called "in fill" construction -- for the next several
years in established urban and close-in suburban neighborhoods to accommodate
an aging population that likes the feel of "new" but with the availability of
traditional services.
One survey was put out by Professional Builder Magazine and the other by the
National Association of Home Builders.
The Builder Magazine survey took a snapshot of the nation's aging population
in attempting to decipher where the housing market was going.
A little more than a third of survey respondents said their first choice for
their next home would actually be a new house built in an established
neighborhood.
Magazine editor Susan Bady notes that 37 million members of the "baby
boomer"
generation will be between the ages of 45 and 54 by the year 2000.
Boomers "are concerned with aging; they want homes with ramps, wider
doorways
and sinks that will accommodate wheelchairs," the magazine says. "But they
also are technologically sophisticated and crave upgraded wiring packages for
computers, security and entertainment systems."
Perhaps not surprisingly, the Home Builder survey -- put out in conjunction
with its "Smart Growth Strategy" -- also suggests building in the inner
cities and close-in suburbs "represents a good alternative for those who
value an urban lifestyle."
"More home builders are helping revitalize older urban areas by creating
innovative infill communities," says NAHB Vice President Gary Garczynski, a
builder-developer in Northern Virginia. But, he adds, "this kind of
development poses many challenges."
Garczynski said one obstacle to in fill developments is opposition from
nearby residents. "Many of the same people who denounce leapfrog development
patterns (in far out suburbs) are also opposed to compact, in-fill housing
when that housing is being built next door to them," he said.
Another problem, he said, is that existing infrastructure in urban areas is
often inadequate, requiring substantial investment before new housing can be
developed.
He also said the fact that -- across the board -- most buyers prefer
traditional suburban homes also limits the market for infill.
According to the magazine survey, only 3.4 percent of baby boomer
respondents
said they wanted "age-restricted communities." A little over half of all
respondents said they would rather live in a community that is open to all
ages.
The 11.5 percent who showed a preference for master-planned community living
listed swimming pools, security features and hiking trails as the most
desirable amenities.
The magazine said energy efficiency tops the list of preferences among aging
Americans.
Also named were fireplaces, home offices, home entertainment systems and
bonus rooms. Features like main-floor master bedrooms and flex spaces (lofts,
walkout basements) that can be used as home offices, recreation rooms, guest
quarters or play areas for visiting children and grandchildren, were also
listed.
Ironically, there was no consistency among boomers about whether larger
homes were in their future or smaller ones.
Some 38 percent said they wanted to move to a bigger or better home, while
42.3 percent said they planned to downsize.
Related Articles:
Baby Boomers are Moving to Empty Nesters
When Is It Time To Sell ? The Empty-Nester Dilemma.
New Study Shows What Home Buyers of Today and Tomorrow Want
Published: May 17, 1999
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