The combination of the aging population (another 10,000 Baby Boomers retire every day) and the aging housing stock (the 1,167,000 housing starts projected for 2016 is only about half of what we saw in the 2005-2006 peak), means more homeowners are remodeling their existing homes so that they can age comfortably in them. Aging in place (or long-term livability, if you prefer) is also starting to resonate with Millennials. In Bank of America’s 2016 Homebuyer Insights Reports, 75 percent of first-time buyers said they would rather bypass the starter home and buy a place that will meet their future needs, even if it means they’ll have to wait to save more. Smart remodeling, including the addition of walk-in showers, comfort-height toilets, and automated lighting systems, will boost your home’s value by letting you make the aging-in-place pitch when it comes time to sell.
Source; Consumer Reports
Top Real Estate Trends for 2016 By Daniel DiClerico