They are touted as the fastest growing segment of the housing industry. They are known to have financial resources aplenty. They usually buy upgrades or up-sells. And they definitely like their creature comforts. They are smart, well-rounded and tech-savvy. So how come so few builders seem to be trying to sell technology to the active adult market?
The so-called active adult market is that portion of the housing industry populated by the 55-year-olds and up. Sometimes called the baby boomers, this market is largely well-educated, socially active, and usually has some experience with personal computers and home electronics.
Active adult consumers are not retired senior citizens looking for nursing homes. They are often still employed and have a few years to go before they retire or plan to continue working part-time. They are often "empty-nesters," with grown children that have their own families. Many belong to groups and associations. They like to entertain, and to relax, and they have the time and means to do both.
All of these profile ingredients make the active adult consumer a prime target for home technology. But tour any early active adult housing developments, or talk to builders and architects now entering this market space, and home technology doesn’t seem to be high among their priorities. It should be.
At the recent Seniors Housing Symposium in Chicago, builders in attendance or who participated in the various panel and session discussions all confirmed that the active adult consumer buys a lot of upgrades in his home. By many accounts, builders are selling as much as 20 to 30 percent in upgrades in their home sales to this age bracket. There is a good reason for this: The active adult homebuyer is probably buying his last home. He has already owned five or six, according to statistics from the National Association of Home Builders (NAHB), and he has learned from experience what he wants in a comfortable home. Since the active adult buyer doesn’t need as much space (he is "downsizing," the NAHB will tell you), he has to put more money into improving the space he has.
This is where the homebuilder can really succeed by explaining the opportunities with home technology products. When consumer education and marketing are approached correctly, home technology is all about lifestyle—and lifestyle is what the active adult buyer is after.
When you frame home-technology discussions in the context of improved lifestyle, it is an easy sell to tout the benefits of having whole-house audio, automatic climate controls, lighting control in all living areas, or home security for total peace of mind.
And remember, the active adult homebuyer has worked with several builders or contractors in his past. He needs to have trust in the quality of your workmanship. But he also depends on you to be up on the latest advances in products that go into building his home, as well as furnishing his home. This will probably be your active adult customer’s final home investment. Help him make it the very best experience it can be, at all levels.
