RISMEDIA, June 11, 2008-In less than three years, half of all home buyers will be at least 50 years old. A new book recently released by BuilderBooks, the publishing arm for the National Association of Home Builders (NAHB), examines what this growing market of home buyers aged 45 and up–now nearing 70 million people–means for builders.
In Right House, Right Place, Right Time: Community and Lifestyle Preferences of the 45+ Housing Market, author Margaret Wylde analyzes new, original research on 6,328 heads of U.S. households that are part of this market segment. She also draws on other studies her company, ProMatura Group LLC, has conducted over the past two decades on home preferences and purchase decisions, sharing her insight into the unique boomer market.
“This book delivers great information on what older buyers find appealing, important, or even vital in a home,” says Joanne Theunissen, chair of NAHB’s 50+ Housing Council and a builder from Michigan. “Builders who consider this data as they design and plan homes and communities will have an edge over those who don’t.”
The book is divided into three parts that analyze who these buyers are, where they live currently and what they want in their homes. Among the details the book examines are what prices 45+ home buyers are willing to pay for a home and preferences in design features, home size and community amenities.
The findings dispel stereotypes about middle-aged and older home buyers and renters, making the book an essential reference tool for all builders, land developers and others who already are in, or plan to enter the active adult market. In addition to walking readers through the research findings, Right House, Right Place, Right Time: Community and Lifestyle Preferences of the 45+ Housing Market offers helpful advice on researching local markets and addresses common pitfalls to avoid in project development.
Right House, Right Place, Right Time: Community and Lifestyle Preferences of the 45+ Housing Market is available for purchase ($69.00 retail/$62.00 member, ISBN 978-0-86718-628-4) at www.BuilderBooks.com or by calling 800-223-2665.