November’s 3 hot topics for home improvement marketers

SPECIAL EDITION - AGING IN PLACE: Seniors bust a (tiny) move, tap an insurance surprise, and ask what their country can do for them.
by The Drill Down Team on December 04, 2023

The Future of aging in place … is moving?

Aging in place has become big business, as contractors and handymen install grab bars, build walk-in showers, widen doorways, upgrade kitchens and add first-floor bedrooms. But is redoing big homes the only path to happily aging in place?

In an AARP survey, more than three-quarters of adults 50 and older said they wanted to stay in their homes or their communities as they age. Turns out, aging in place isn’t so much about the home as the community — both the people and places. More here: (Source)

The S/M Take: 

If you’re a decision-maker at a homebuilder or a brand that equips those homes, that sound you hear is an emerging market. Seniors want small, they want maintenance-free, and often they want it right where they’ve been living. And as you’ll read in our third story, the U.S. is woefully short of all of it. Opportunity knocks.

3 surprising ways long-term care insurance helps you age in place

Most people want to stay in their own homes through the later years of their lives, and you may be one of them. So, with a plan to age in place, there's not much need for long-term care insurance, right?

Not exactly. "Some long-term care insurance will cover a variety of modifications to your home," says one expert. "This could include adding accessible ramps, shower handles," and other modifications that make your home more accessible.  More here: (Source)

The S/M Take: 

For seniors on fixed incomes, the most frightening expenses are the unexpected ones, like retrofitting for accessibility. Knowing that LTC can pick up that tab? A game-changer. Hot tip: Marketers, help your contractors and customers out by providing insurer-friendly fact sheets. Speed the process, speed the reimbursement.

Older adults want to ‘age in place,’ but their options are limited in most states

As older adults begin to outnumber young people in the United States in the coming decade, advocacy groups are challenging states to shift away from single-family zoning in favor of housing solutions that allow older adults to “age in place.”

Organizations such as AARP are lobbying state by state for two housing approaches: the development of so-called middle housing such as duplexes, triplexes and townhomes, and the allowance of accessory dwelling units, often known as granny flats or in-law suites. More here: (Source)

The S/M Take: 

Ah, the game within the game – the hard work of lobbying zoning commissions to allow the higher-density housing that seniors need. As home improvement marketers, we adore data, and the data tells us that in 2035 we’ll have more folks over 65 than under 18. So let’s go where the demographics are headed, and support these zoning changes.

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