GOLDEN, Colo., Oct. 16, 2015 /PRNewswire/ -- Today HomeAdvisor, a leading nationwide home services marketplace, released an Aging-in-Place Report that analyzes the trends related to how homeowners modify their homes to ensure they can remain there safely, comfortably, and independently as long as possible. The Report was prepared by Marianne Cusato, HomeAdvisor's housing expert and professor of practice at University of Notre Dame's School of Architecture, and is comprised of data submitted to HomeAdvisor.com as well as results from a recent survey* conducted among HomeAdvisor's network of pre-screened home professionals. HomeAdvisor released the Aging-in-Place Report in collaboration with the National Aging in Place Council.
"The U.S. Census Bureau reports the number of residents 65 or older will grow to nearly 73 million in 2030 and at least 90 percent of those homeowners intend to remain permanently in their home," said Cusato. "While the report revealed a small number of homeowners are already planning ahead, the majority may benefit from the help of informed home service professionals."
Highlights of the 2015 Aging-in-Place Report:
- Over one-half of homeowners who hire a professional for an aging-related home improvement are younger than 65 years old, with 10 percent younger than 50 years old.
- When hiring a professional to complete an aging-in-place project, 73 percent of the time homeowners make contact with the professional themselves. The daughter is second mostly likely to contact the professional and does so five times more often than the son.
- When technology is installed in the home, more than one-half of homeowners request home automation systems (e.g. security systems, lights, thermostats), 14 percent purchase assistive technology (e.g. automatic countertops and shelves), and 10 percent install in-home health monitoring (e.g. heart rate tracking and fall monitoring).
- Seventy four percent of professionals feel prepared to discuss the financial benefits available to homeowners to help them age in place.
"The report shows most professionals are prepared to talk to homeowners about aging-in-place improvements but few are ready with additional resources," said Cusato. "Seventy two percent of professionals don't have marketing materials directed towards aging in place, over two-thirds are unfamiliar with the term 'Universal Design', and 83 percent are unaware of Medicare and Medicaid benefits."
The Aging-in-Place Report also uncovered the most common projects related to aging in place. The projects most frequently requested include adding grab bars in the home, building a disability ramp, installing a lift on the stairs, and adding a personal alert system.
HomeAdvisor.com is a local home services marketplace providing homeowners the tools and resources for home repair, maintenance, and improvement projects. HomeAdvisor's marketplace lets homeowners view average project costs coast-to-coast, find local pre-screened home professionals, and instantly book appointments online. Access to all of HomeAdvisor's resources is free for homeowners, with no membership or fees required. HomeAdvisor is based in Golden, Colo., and is an operating business of IAC (NASDAQ: IACI).
*Data included in the Aging-in-Place Report is based on the number of service requests submitted to HomeAdvisor.com from August 3, 2014-August 3, 2015; and a survey conducted by Survey Monkey on behalf of HomeAdvisor. The survey was conducted among 237 professionals from August 21, 2015-August 30, 2015, of whom 187 reported completing aging-in-place tasks for homeowners.