The Housing Market is (Baby) Booming
Older, wiser and more powerful than ever, aging homeowners drive demand

KLAMATH FALLS, Ore. January 11, 2006 —

The housing market for baby boomers is, well, booming.

Thanks to historically low interest rates and the strong return on real estate investments over the past few years, as well as growing personal net worth, older adults are a powerful force in the home ownership market. According to Realtor magazine, 41 percent of home sellers are 55 or older, while nearly 68 percent of repeat home buyers are over the age of 55. 

As older Americans embrace home ownership more than ever before, a top concern is how they can stay in those homes comfortably while maintaining their active lifestyle as they age. Half of baby boomers surveyed by Yankelovich, a leading lifestyle research company, said they plan on staying in their current homes during their retirement years and beyond. This is driving a major demand for products that fit the needs and changing lifestyles of homeowners as they plan for the years ahead.

As a result, companies such as JELD-WEN, the world’s leading manufacturer of reliable windows and doors, are highlighting low-maintenance, stylish and highly functional products to help ensure that today’s homes age as well as their owners. Priorities for today’s homeowners and products that are helping meet the demand include:

Easy, Low-Maintenance Living

Homeowners looking forward to their retirement years are more active than ever. According to a Coldwell Banker survey, boomers want homes that will accommodate their favorite pastimes, including shopping, golf, biking, hiking and fishing. Other priorities, as well as having to maintain two and sometimes three or more homes, mean they aren’t interested in spending a lot of time or money on home maintenance issues. As a result, top-quality products that offer low-maintenance features resonate well with this group.

To meet the demand, JELD-WEN offers a number of worry-free products. JELD-WEN^Ò Premium Fiberglass doors contain nearly twice the amount of fiberglass as ordinary doors, making them exceptionally strong for maximum durability and security, yet requiring virtually no maintenance. 

JELD-WEN^Ò Vinyl windows and patio doors also fit in well with active homeowners, since they require little maintenance and are a breeze to operate. JELD-WEN’s exclusive WEN-Lock™  window locking mechanism can be opened or closed (and locked) with one hand. WEN-Lock’s visible latch indicator (VLI) indicates whether or not the window is locked, and can be seen from the inside only. 

For those who want real wood but are concerned about maintenance issues and upkeep, JELD-WEN offers genuine pine windows and doors made with AuraLast^TM wood. AuraLast wood delivers an industry-leading 20-year warranty against wood decay and termite infestation. JELD-WEN also offers top-quality exterior metal cladding for added protection and design style. A variety of cladding colors provide the latest looks, while eliminating the need to paint and repaint the windows’ exteriors on an ongoing basis.

Planning for Better Design

While many boomers are not yet at retirement age, many are wisely planning ahead, and thoughtful designers and builders are considering a variety of age-friendly features.  Today the concept for aging well at home involves much more than installing a stainless steel bar in the shower and making sure the master bedroom is on the main. The latest design trends include ideas such as relocating laundry rooms closer to high-use rooms to cut the heavy lifting from room to room.

To help improve foot traffic flow and to accommodate homeowners who may experience mobility issues in the future, JELD-WEN is experiencing increasing demand for doors that are not only taller, but also wider. Soundproofing features are also becoming important as builders and designers implement age-friendly plans. JELD-WEN doors with ProCore The Quiet Door^Ò cores are up to 50 percent quieter than hollow interior doors. They can help silence areas such as noisy utility rooms that are often placed near more public areas of the home, such as the master bedroom, to help provide maximum privacy and convenience.

When it comes to window design, builders are incorporating more windows to provide optimal light to meet the demand from homeowners of all ages. Easy-to-reach windows that eliminate bending or stretching and simple-to-operate handles and locks, such as JELD-WEN’s WEN-Lock system, are also key for better functionality. These features are in demand as more homeowners consider ways to make their homes functional and comfortable both now and well into the future.

Good Taste Grows with Age

However, as much as older homeowners are concerned about functionality, they are just as concerned about style and quality. According to the Seniors Housing Council, adults ages 55 to 64 have the highest median net worth of any age group, with assets 21 percent greater than the average. Nation’s Building News, a national Home Builders Association publication, states that 75 percent of homeowners who are 55 or older will settle for a smaller house if that’s what it takes to get high-quality products and amenities; and 60 percent prefer name-brand products in the home.

For these discerning homeowners, JELD-WEN offers top-of-the-line, highly functional products such as Custom Fiberglass doors. It is virtually impossible to tell doors apart from real wood doors, yet because these doors are made from fiberglass, they are exceptionally low-maintenance. JELD-WEN Fiberglass doors are also available with special, customizable details, such as iron accent grilles, straps and hinges and decorative clavos (buttons) to make a dramatic design statement.

“For homeowners who want the best of both worlds – custom design and low maintenance – these doors provide a great option,” said Shane Meisel, product marketing manager for JELD-WEN doors.