Chicago Real Estate Blog

Residential Real Estate Gearing Up for Aging Baby Boomers’ Housing Needs

There’s no doubt keeping up with the needs of the Baby Boomer generation is a surefire way for any industry to increase business and ensure a copious customer base for years to come. The trick is looking ahead and being prepared for the aging population’s needs well in advance.  

The real estate industry is starting to act on the upcoming trend that will eventually affect every housing market in the country — considerable numbers of elderly citizens will require homes that offer specialized care features and amenities. Assisted living and nursing homes already exist, however, there just aren’t enough locations to house the proportionately larger group of aging folks associated with the Baby Boomer population.

Even though developers across the country have begun to design and build residences in anticipation of the impending shift in homebuyer interests, Chicago is at the forefront in number of projects currently in the works, according to surveys by the American Seniors Housing Association and the National Investment Center conducted in 2006.

In addition to simply needing more assisted living-type homes for the coming decades, developers are taking the opportunity to provide a whole new level of comfort and style to the traditionally drab and institutional nursing home facilities. Even with extra wide doorways, built-in hand rails and special shower seats, these units are still home—and many Chicago developers want to make it feel that way. Instead of plain, low-ceilinged rooms with little charm, elderly homebuyers will be able to purchase places with natural light, open floor plans and quality finishes. So, aging homeowners can enjoy the characteristics of a typical Chicago condo, but get all the necessary health benefits they require to lead happy lives.

Posted at 10:43AM Nov 08, 2007 by Spencer Mason in General  |  Comments[0]