Home Renovation Trends for Baby Boomers

According to the US Census Bureau, the population of baby boomers in 2012 was estimated to be 76.4 million, which is nearly one-fourth of the total US population.

While some aging adults plan to gain new experiences in their golden year, statistics reveal that over 60% of the retirees decides to stay in their current home as mobility becomes a crucial factor in old age.

However, old age requires special care and attention to maintain health and comfort which involves various changes in day-to-day lifestyle.

Therefore, the most comfortable alternative for elderly homeowners is to undertake home renovation which includes creating and updating the home to make it more comfortable and safe for older people.

Although installing easy to operate faucets and appliance, grab bars, higher toilets, and slip-resistant floors are some primary upgrades that most retirees include in their home renovation project, one can also trace other definite trends in such renovations.

Regardless of the age, improving the appearance of the home is the single most effective reason why people undertake home renovation in the first place. One plausible reason could be to build a structured and orderly environment in the home to experience a sense of calm and comfort that every aging adult craves for.

Since bathroom and kitchen are the most used (or cluttered) rooms in every home, the retirees’ expenditure on the renovation of these spaces is also worth noticing.

Studies reveal that an average boomer spends $18,000 for a minor and over $50,000 for a major kitchen renovation compared to millennial’s average expenditure of $6,000 and $21,000 for a minor and major kitchen renovation respectively. Boomers’ average spending on bathroom renovation also cost twice the millennial’s expenditure for the same.

This difference in expenditure might well be the result of the approach taken to accomplish renovation. Since renovation projects demand detailed attention to every aspect of design and construction, it is imperative for the aging adults to hire professional bathroom and kitchen renovation contractors to accomplish such complex task whereas younger generation might resort to DIY approach.

It is note-worthy that over 80% of the homes in the United States are owned by baby boomers who tend to spend more on home renovation projects compared to younger homeowners.

As per the National Association of Home Builders, most contractors undertake home renovation for baby boomers with the purpose to make them ‘stay put’ i.e. to remodel the house meeting the unique requirement of older people to avoid mobility.

Another essential factor that considerably affects the home renovation for baby boomers are the geographical location of the house. Homeowners living in Northeast and Midwest invest more on interiors of the house such as bathroom and kitchen renovation, while residents in south and west focus on outdoor projects.