Reports show that by the year 2030, the 65+ year-old population in this country will more than double — from 35 million to 73 million! (Source: Bipartisan Policy Center Report)
Increasingly, the majority of seniors express the desire to stay in their current homes as long as their health allows. But many of them may find that reaching the goal of “aging in place” requires modifying the structure of their existing home to include features that make independent living a safer option.
Home builders note that about three-quarters of remodeling projects now include aging-related retrofits. Adding grab bars, entrance ramps and main floor bathrooms are high on the list of priorities. Widening doorways and hallways to accommodate wheelchairs and walkers is also a common request. Filling out the list of features that add to safety and convenience are lever-style handles on doors and faucets, plus switches and outlets that are height-appropriate and therefore easily accessible.
One level homes, aka ramblers and/or ranch style homes, are obviously a good choice for older residents because they have few, if any stairs. Many of the existing ramblers were built in the 1950’s and the demand is already outstripping the supply. Moreover, the high cost of land dictates that most new construction is in the form of multi-level homes these days, and that shift is not likely to reverse itself.
You might want to start buying stock now.