In 1993, more than half of the elderly population states they had at least one disability which limits their daily activities. Fewer than 10 percent of the 100 million existing homes are accessible or adapted for the handicapped. With nearly 75 percent of this group owning their own homes, remodeling is a likely solution to alter their existing structure to meet their changing and future needs. This generation has more time and money-and they want or need to spend a greater amount of their time at home. This market is willing to invest in remodeling.
Boomers are a prime market in the remodeling industry.
They represent 40 percent of all Americans over the age of 18, or 30 percent of our total population. This generation, including anyone born between 1945 and 1962 is a strong economic force that controls the trends of nearly every industry in the United States. NARI notes that Baby Boomers want convenience and comfort, and they will do whatever it takes to make their homes feel that way. If a large whirlpool bath helps them ease the tension away, they'll ask for it. If warming drawers make dinner preparation easier, they'll want them.