Contrary to expectations, many older generations are choosing to stay in the family home, according to the fourth annual Houzz and Home survey.
Downsizing from the family home is a well-accepted part of life's trajectory. Restricted mobility, changed financial circumstances, and a smaller family generally contribute to the decision.
However, the latest Houzz and Home Survey suggests that many elderly Australians are opting to stay in the family home, and making changes to the home to accommodate their changing needs.
The report shows that half of homeowners with household members who are 60 years or older plan to stay in their residence indefinitely. Of those, 53% renovated in 2014, and 48% plan to renovate in 2015.
Jason Chuck, Managing Director, Houzz Australia and New Zealand, says, "A lot of more-mature home owners and people that buy homes that have older member in them, are spending a lot more time trying help those older members feel more comfortable in their homes. And they're renovating to adapt to their situation.
"A lot of them, because they're comfortable in that location, they have their friends, they know the neighbourhood, it makes a lot more sense to stay."
One in five Australians who stay in the family home renovated a bathroom, with 67% making upgrades with aging in mind. The three most common bathroom redesigns were easy access to shower (48%), layout change (39%), and trip hazard removal (26%).
A third of olders residents renovated spaces other than the bathroom and kitchen. Layout changes were made by 18% of this group, 13% put in easy-to-reach storage, and 10% removed trip hazards.
Jason said, "Sites like Houzz, and renovation TV shows are giving people a lot more confidence around renovating their home, and what they need to do to prepare for those older years of their lives."
Older renovators seem to have no trouble using the latest technology. "Houzz is a lot of information, but it's very simple technology to access it all," said Jason.
"The average age of Houzz users is generally 40 to 50. They usually have high income. And because they are a little bit older, they're thinking about how they accommodate for that aging process. So they're searching for a lot of things around the layout and the types of products they need, like things that are they easy to operate, and for example removing their bathtub and putting in a larger shower space.
"I think people are finding out that renovating to accommodate the aging process doesn't have to be unglamorous. A beautiful big shower can be quite beautiful. There are a lot of great designs out there."
"People can renovate piece by piece. They don't have to overhaul their whole home. Australians love renovating, and they love to improve their lifestyle."
"When people are looking to renovate their homes, or sell their homes, they really should be thinking about the fact that there is a large, aging population in Australia, and having suitable features could make their home a lot more attractive."