Cecily O'Connor
RedwoodAge.com

When it comes to future housing needs, the desire among future retirees for socializing is taking a backseat to technological features, home maintenance services and transportation.

These features are part of a longer "wish-list" detailed in a new survey by the National Association of Home Builders and the MetLife Mature Market Institute, a nonprofit that studies aging issues.

The study points to a desire among middle-aged Americans to live in so-called active adult and lifestyle communities as they grow older. It's an emerging trend that has builders looking for ways to partner with providers of health, transportation and other services to support the lifestyle. 

The main thing standing in their way is the sluggish economy, which has made it hard to fund development and construction to keep pace with the aging US population. Most recently, gloomy existing home sales data reinforced concerns that the US housing market recovery is still a ways off. 

That's not to say that builders aren't following boomer trends, which are expected to contribute to increased construction when the housing market does eventually stabilize. 

The MetLife/NAHB data - the third in a series - compared the preferences of boomers between 55 and 64 to adults over 65.

In general, the younger group showed more interest in technology-heavy features, while the older group said they preferred a single-story floor plan, or one with a first-floor master bedroom and a variety of universal design features. There also were differences in the area of home services and community services they currently have available.

"Very telling 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," said John Migliaccio, director of research at MetLife's Mature Market Institute.

Anti-Social
All of the above features and services ranked higher than the desire for social activities by the aging boomers - a surprise, considering social activities and amenities have been thought to be valued quite highly by this group, Migliaccio said.

Builders are watching boomers' requests, noting that about two-thirds of their customers over 65 relocate due to a desire for a "maintenance-free" lifestyle. Another 46 percent move to be closer to children and family, while 32 percent opt for new abodes that come with lower living costs.

The median price older adults said they expect to pay for their next home is $189,426, which is less than the median price of $198,119 they paid for a home within the last three years. This compares to their current home, which has an average market value of $267,401.

Easy Living
"Most buyers in this market are looking for an easy-living lifestyle," said Mike McGowan, a builder from Binghamton, NY, and chair of NAHB's 50-plus Housing Council. "They would like easy access to services that will free up their time from maintenance both inside and outside their homes."

The share of households that will want such housing is large and growing larger as boomers age into that easy-living segment of the market, said Paul Emrath, NAHB's vice president for survey and housing policy research.

Still, Emrath 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, he warned.

About 8 percent of the 55-plus respondents said they plan to buy a home within three years, and another 4 percent plan to do it after three years.