Modernize Home Services, a provider of home improvement contractor lead generation services, releases new findings from its survey on homeowners’ plans to invest in “aging in place” improvements.
More than 2,000 homeowners actively seeking contractors through Modernize participated in the survey, titled, “Big Opportunities Await in the Aging in Place Industry.”
69% of Homeowners Will Explore Aging in Place Projects Next Year
A majority of homeowners, across trades, plan to explore aging in place projects for themselves, or for someone they love, in the coming year. About 63% of respondents report they will explore these home improvement projects for themselves within the next 12 months and 6% plan to do so for a loved one. These results show an opportunity for contractors to increase aging in place projects.
Types of Planned Projects
Homeowners expressed interest in various improvements throughout different areas of their houses.
- Walk-in tubs: 17%
- 78% of these homeowners say they plan to remodel part, if not all, of their bathroom during the walk-in tub installation.
- 21% of homeowners selected “lifetime warranty” and 19% chose “quality design” as the most important feature of a walk-in tub.
- 86% of homeowners report if financing were offered they would finance some, if not all, of their walk-in tub project.
- Medical alerts: 12%
- Seat within shower: 11%
- Non-slip flooring: 8%
- Stair lifts: 7%
- Ramp to doorway: 7%
- Handlebars: 7%
- Wider hallways: 4%
- Other: 26% (including windows, roofing, bathroom expansion, additional entrance, walk-in shower or new flooring)
Aging in Place Prospects Are Long-Term Homeowners
Of the homeowners who expect to pursue projects, 56% have lived in their home for more than 10 years. At least 41% have lived in their house for more than 20 years.
“There are a few projects that offer more safety and security – such as installing brighter lightbulbs–that can be done by any homeowner. More complex projects like walk-in tubs, stair lifts, structural adjustments, and concurrent bath and kitchen upgrades require professionals. This study shows an opportunity for contractors to capitalize on the increased demand for aging in place home improvement projects in the coming years.”— Gregg Hicks, vice president of Modernize
Free Webcast Details
Modernize has recorded two free webcasts that explore additional survey insights into demand for aging in place home improvements. Home improvement professionals can learn about homeowners’ aging in place project plans, priorities, financing needs, and demographics.
The survey was conducted on the Modernize Home Services website from November 4 until November 16, 2021, with 2,110 respondents in the United States.
[Source(s): Modernize Home Services, PR Newswire]