We know that the Baby Boomers account for a large part of the real estate owning population in America. It should come as no surprise, then, that these folks – not the typical “trendy” crowd - may be the latest trend-setters in Montgomery AL real estate also.
As this article in the Wall Street Journal explains, designers and architects are catering more and more toward this fast-growing segment of the population. Research has shown that more Baby Boomers planning to stay in their homes through retirement as opposed to moving to “assisted living” or a retirement community.
This influx of aging home buyers has triggered home renovations and new construction including halls and doorways wide enough for walkers and wheelchairs, and master suites and laundries on the ground floor so residents can avoid stairs. Now, the technology behind home appliances and fixtures is catching up – making all kinds of appliances and home design elements more senior-friendly.
Some of the innovations in home design and appliance re-design include:
- Stoves that monitor pots to prevent boiling over
- Adjustable typeface on appliance control panels
- Faucets that turn on and off with just a touch anywhere on the spout
- Dishwashers designed to be mounted at a more comfortable height
- Refrigerators with doors and storage designed to reduce bending over
- Adjustable volume/pitch of oven alarms
Last but not least – yes, there is even a toilet on the market with an electric-blue nightlight built in and a motorized heated seat cover that rises with the touch of a button. I don’t think you’d have to be a senior citizen to enjoy that kind of amenity during a late-night bathroom visit!
The impact these trends will have on the real estate market as a whole is uncertain, but with more Baby Boomers purchasing Montgomery AL real estate, light-up toilets may be a standard amenity before you know it!
Fannie Mae has announced down payment requirements will be lowered from 5% to just 3% for all conventional, conforming mortgages processed through its Desktop Underwriter® automated underwriting system, as of June 1. Loans processed outside the Desktop Underwriter® system will still require a 5% down payment.
