Retirement Living News

February 2010

HEADLINES  (Click on headline to read story)

• New Survey Reveals Housing Preferences of 55+ Consumers
• AARP and NAHB Announces 2009 
  Livable Communities Awards Winners
• New Concept in Senior Living Creates 
  Rapid Expansion of Intentional Communities
• Tips on Dealing with Homeowners' Associations
• New Book: Slick Move Guide

Archive of Past Issues                          New Retirement Communities

NEWS STORIES

New Survey Reveals Housing Preferences of 55+ Consumers 

A survey of consumers and builders, conducted in 2009 by the National Association of Home Builders and the MetLife Mature Market Institute, has yielded a new round of data specific to the housing preferences of the 55+ consumer. This analysis of data -- the third in a series -- compared the preferences of the 55-to-64 year old age group to those of the 65+ group. 

Here is a summary of the findings. 

• 63% plan to age in their current homes, 12% plan to buy another home, and 26% are unsure. 
• The majority prefer the suburbs (32% close-in suburbs and 31% outlying suburbs). A rural community is preferred by 28%, and 9% want to live in a central city. 
• About one-quarter of respondents do not care about the impact building a home has on the environment. While 23% said they are concerned, it does not drive their decision. Only 12% said they are willing to pay an average of $6,732 for an environment-friendly home if it would save $1,000 annually in utility costs. 
• Most respondents listed proximity to a shopping center and proximity to a hospital/doctor's office as influencing their choice for a new community. 
• Technology features, home security systems, and structured wiring are important to consumers. 
• Builders indicated their customers' motivations for relocating. Sixty-three percent reported a desire for a maintenance-free lifestyle, 46% want to move closer to children/family, and 32% desire lower living costs.

One of the surprises revealed in that data is the similarity in preferences between the two groups, with the exception of the following: 1) The younger group showed more interest in technology-heavy features, 2) The older group expressed a stronger preference for a single-story floor plan or one with a first-floor master bedroom and a variety of universal design features, and 3) There were differences in the area of home services and community services they currently have available. 

One striking difference, according to John Migliaccio, director of research at MetLife's Mature Market Institute, related to home services and community services. 

"Very telling," said Migliaccio, "is that the younger group of mature consumers reported enthusiastically that they want services like home maintenance and repair as part of their next home purchase, along with services usually connected to older householders, such as housekeeping, onsite health care and transportation." 

According to Migliaccio, all of the aforementioned were ranked higher than the desire for social activities by this group -- a surprise inasmuch as social activities and amenities have been thought to be valued quite highly by this group. This finding, he said, supports an emerging trend among builders to look for ways to partner with providers of such services to the residents of their active adult/lifestyle communities. 

According to Mike McGowan, a 50+ builder from Binghamton, New York and chair of NAHB's 50+ Housing Council, "Most buyers in this market are looking for an easy-living lifestyle. They would like easy access to services that will free up their time from maintenance both inside and outside their homes. This data tells builders that the homes they build for older active adults will remain attractive to the consumers who will be entering that market for the foreseeable future." 

Paul Emrath, NAHB's vice president for survey and housing policy research, pointed out that the share of households that will want such housing is large and growing larger as Baby Boomers age into that segment of the market. He cautioned that the current financial situation has led to sharply decreased construction of communities that serve the mature market. Without a change in the availability of capital for development and construction, there could well be a shortage of such housing when it is most needed. 

To view the report, "55+ Housing: Builders, Buyers and Beyond," visit http://www.metlife.com/assets/cao/mmi/publications/
studies/mmi-55+-builders-buyers-beyond.pdf
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AARP and NAHB Announces 2009 Livable Communities Awards Winners

Last month, the AARP and the National Association of Homebuilders (NAHB) announced the 2009 Livable Communities Award winners. AARP and NAHB established the annual Livable Communities Awards to recognize homes and developments designed to enhance the daily comfort, convenience and safety of the people who live in them. The award winners are: 

• Architect - ZAI Inc. (for Green Lake Residence in Seattle, WA) The Architects of ZAI Inc. created a home designed to respond to the various changes people experience over the course of their lives, and to do so in an aesthetically pleasing way. The residence demonstrates that a multi-story structure on an urban lot can be accessible throughout a lifetime. In addition to user-friendly rooms, the home features three stacking closets that are framed, sized and wired for a future elevator so that the house can accommodate the resident's changing needs. Energy-efficient radiant heating under the floor creates comfortable even temperatures and eliminates the need for ducts and vents. 
• Builder (2,500 square feet and under) - Eskaton Senior Residences (for Eskaton National Demonstration Home in Roseville, CA). This Eskaton home incorporates universal design,home automation, health and wellness technologies, innovative lighting and green-building technology. The environmentally friendly design has green-living features that reduce the home's carbon footprint and its utility bills and is certified by Green Built Home of America at its highest level. The home also includes simple and intuitive features that make occupancy convenient such as level flooring transitions, varying countertops heights and vacancy sensor lighting. 
• Builder (greater than 2,500 square feet) - Yorkshire Enterprises LLC (for North Morningside Craftsman in Atlanta, GA). The home's high-end finish and universal design helps it blend in with neighboring 1920s-era homes while functioning as a modern, easily accessible establishment for the aging community. Energy efficiency is integrated into the home with bio-based spray foam insulation, high-efficiency water heaters and easily programmable thermostats. The floor plan, extra wide halls and doors make for easy access moving around the home. Convenient amenities such as light switches, outlets and thermostats are lowered making for a comfortable and livable environment. 
• Developer (over 250 units) - The Lakota Group (for NorthCenter Senior Campus in Chicago, IL). This state-of-the-art senior living campus on Chicago's north side provides long-time residents affordable options in a part of the city that has been underserved by this type of development. The campus is within walking distance of countless shops, restaurants, two bus stops and less than a mile from rapid transit. The site's internal transportation is designed to slow vehicular speeds and minimize pedestrian crossings at driveways while also providing safe and easy access to new parks from each building. 

"AARP cosponsors the Livable Communities Awards to demonstrate that Americans' lifetime love affair with our homes can be reciprocated by beautiful lifetime homes in every style that incorporate effortless comfort, convenience and flexibility to adapt to our families' needs at every age," said Elinor Ginzler, AARP Senior Vice President for Livable Communities. "The 2009 winners lead a growing movement toward ever more user-friendly and energy-efficient homes and communities designed with award winning style." 

"Every year the Livable Communities Award winners push the boundaries of what can be done to improve the comfort and ease of use of homes and communities," said NAHB Chairman Joe Robson, a builder from Tulsa, Okla. "These winning projects show us that universal design concepts can be integrated into beautiful homes."
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New Concept in Senior Living Creates Rapid Expansion 
of Intentional Communities

Before 2001, few people were familiar with the concept of "intentional communities" until the first one -- Beacon Hill Village  -- was formed in Boston. Now there are communities in California, Colorado, Connecticut, District of Columbia, Florida, Hawaii, Illinois, Indiana, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, Washington, Wisconsin and the first international community in Australia. 

The flagship community and model for others was the one formed by a group of Beacon Hill residents in 2001 as an alternative to moving from their houses. And while these communities might imply a physical neighborhood, they are not. Beacon Hill Village is a concept, not a location, and includes members from many Boston areas. 

Intentional communities are membership organizations in which dues are paid for services, services that allow people to continue to live in their neighborhood close to friends and in their home. As members in intentional communities age, the community organizes and develops programs and services that allow them to lead safe, healthy and productive lives in their own home. 

Ages range from 50 and older and members are both single and married. While services vary according to the needs and interests of each individual community, BHV says. "From groceries to Tai Chi to cultural and social activities to home care, Beacon Hill Village members get what they need to enjoy their lives…and peace of mind." 

Membership costs vary from village to village but at BHV, an annual membership is $600 for an individual and $860 for a couple. A membership can be purchased for someone else, for example, a parent. 

HouseWorks, founded in 1998 by Andrea Cohen in Boston, was intended to be a different kind of private-pay home care company, more responsive or reliable than any of its predecessors. Cohen's vision has been to help seniors live at home, no matter how challenging their situation. A fundamental innovation has been the entrepreneurial approach to service delivery, a customer driven approach that returns a sense of control to adult children and their elderly parents. Rather than telling customers what they can or should have, HouseWorks listens to what they want and attempts to meet their needs. 

Because of their unique philosophy, it was only fitting for HouseWorks to become affiliated with BHV when it was formed and Cohen has been a fervent advocate of the concept of intentional communities. 

As the leader in intentional communities, the website for BHV (www.beaconhllvillage.org) contains a page of all the other villages with contact information. There are additional pages for those interested in forming an organization in their community and a link to the Village to Village Network website of resources. 

In nine years, intentional communities have spread from the vision of a few Boston colleagues to a concept which allows members in a growing number of states and countries to get what they need to enjoy their lives…and peace of mind. For more information on intentional communities, click here. 
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Tips on Dealing with Homeowners' Associations

Homeowner and condominium associations run like a small government. Their boards, whether under a developer's or residents' control, have the power to assess fees on homeowners. The board's job is to collect enough revenue to pay for the upkeep of common areas such as entrances, clubhouses, pools, private golf course or private roads. Homeowners' Associations (HOA's) became popular in the 1960s, beginning with retirement communities. One-third of all Floridians now live under the control of one of the more than 300,000 homeowner associations in the U.S. 

It is important to be aware of what might go wrong. Owners can be charged much higher dues than they expected at move-in. The housing bubble has exacerbated the problem. Neighbors in 400 houses might have been easily able to split the bill for a golf course and private brick-paved streets, but if half the houses are in foreclosure, the bills still must be paid. And even if the HOA puts liens on foreclosed properties, that money could be long in coming, if ever. 

Experts offer the following advice. 

• Read the covenant documents carefully before buying a house or condominium. 
• Look at HOA dues in comparable neighborhoods. Find out when the dues last increased, how many units are in arrears and for how long. 
• Read the minutes of HOA meetings and find out whether the organization has a rainy-day fund to cover unexpected expenses. 
• Find out the occupancy rate for the neighborhood. If it seems too low, look somewhere else. 
• Lenders typically won't write a mortgage for a property where the HOA delinquency rate is higher than 15 percent. Some banks are even stricter. 

For more tips, go to: http://loan.yahoo.com/m/primer13.html and http://www.ahrc.com/new/index.php/src/news
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New Book: Slick Move Guide

Slick Move Guide was written for those who are planning a move, whether it be to a retirement destination or for a career-related purpose. Author Jodi Valazquez has written this book based on her experience of moving five times in six years. It is written for those who want to plan every aspect of their move in detail. While it doesn't overwhelm you with tips and guidance, it does give you just enough information to make your move a success. 

The book provides a lot of information about the moving industry and how to go about finding moving companies you can trust. She lists 25 questions to ask when you interview a moving company. There is also a wealth of information about how to pack a variety of items. 

Valazquez devotes a whole chapter to researching your destination, including getting to know the area, and the cost of healthcare, utilities, insurance, traffic, neighborhoods, education, taxes and transportation. For more information, including how to order the book, go to: http://www.slickmove.net 
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