Aging boomers are a boon for remodeling market

TRD New York /
Jul.July 17, 2012 12:30 PM

The aging baby boomer population will be the key to a recovery in the remodeling market, Businessweek reported. Citing a Harvard University study, this recovery will be buoyed by contractors working to make improvements in homes so that dwellers can more easily and safely navigate their way through. Referred to as age-in-place retrofits, these jobs should provide “particularly strong” business for the nation’s 650,000 remodelers, the study said, of which two-thirds are individually operated businesses.

However, there is one challenge: having homeowners plan for their own aging. “Most people are hesitant to admit they need to be thinking in this way, so we definitely battle that,” Bill Millholland, the executive vice president of Case Design/Remodeling, told Businessweek.

Alterations would include widened hallways with better lighting, handrails in the shower and around toilets, ramps and even space under sinks for wheelchair access. And for the still-young-at-heart homeowner, the blocking for these installations can be put in place for eventual accommodation. For example, cabinets can be remodeled to help open up sink space for wheelchairs years down the line. [Businessweek]

Related Articles

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

Jay Martin, James Whelan and Joe Strasburg

Rent-pocalypse 2.0: Real estate industry reacts to tenant demands

Thor Equities' Joe Sitt and a closeup of 545 Madison Avenue (Credit: Google Maps)

Thor Equities loses 545 Madison Avenue

Daily Digest Thursday

Legislation introduced to protect tenants in ‘keyless’ buildings, Compass pushes back against WeWork comparison: Daily digest

Ben Carson on how Opportunity Zones are unlike red and black ants: TRD Miami Showcase & Forum

32BJ SEIU President Kyle Bragg (Credit: Facebook, iStock)

32BJ expects fight with real estate industry over contract renewal