By 2050, 88.5 million Americans will be 65 years old or older. That is a huge number and, despite what Jerry Seinfeld might have you believe, they can’t all move to Florida. The question of where they are going to live is at the forefront of a lot of people’s minds.
90 percent of people 55 and older say they want to stay in the house they currently live in. That means the opportunity for renovations will be bountiful. However, these existing aging-in-place home renovations differ from a typical renovation and are a special challenge, according to ConstructionDive
Sometimes, however, staying in the same home isn’t an option, in which case, downsizing is necessary. This, too, should prove beneficial to builders, as there will be many downsizers looking for a new home designed specially for them and their needs.