Modernize Home Services Survey Highlights Increasing Aging in Place Demand for 2023

AUSTIN, Texas--(BUSINESS WIRE)-- Modernize Home Services, a reliable and trustworthy solution that thoughtfully connects homeowners with contractors for home improvement services, releases its third annual aging in place study findings from a recent survey of more than 4,000 homeowners actively seeking contractors through Modernize.com. This survey explores homeowners’ plans to invest in aging in place improvements for themselves or a loved one.

With more homeowners preferring to maintain their independence at home, Modernize explores their project preferences for home accessibility, security, and comfort. When choosing between moving to a retirement community or staying at home, many retirees prefer to remain at home. Aging in place allows older individuals to preserve their sense of familiarity, consistency, and convenience in the home. In this recent report, Modernize sheds light on how homeowners are preparing to age in place with data on home improvement projects they plan to pursue. Modernize can help these individuals complete aging in place home improvements with resources related to research, budgeting, contractor selection, installation, home safety features, or accessibility modifications.

75% of Surveyed Homeowners will Explore Aging in Place Projects This Year

Most surveyed homeowners plan to explore aging in place projects for themselves, or for someone they love, in the current year. This is up from 69% in 2021 and 68% in 2020. The majority of these respondents report they will research these home improvement projects for themselves within the next 12 months and 5% plan to do so for a loved one. Modernize offers a resource to help consumers assess whether aging in place makes sense in certain circumstances.

Planned Aging in Place Improvements

There are many projects homeowners can tackle to make their spaces safer and more secure. Surveyed homeowners expressed interest in various home improvements for different areas of their homes.

• 17% Walk-in tubs
  • 80.5% of these homeowners say they plan to remodel part, if not all, of their bathroom during the walk-in tub installation.
• 13% Medical alerts
• 12% Seat within shower
• 9% Non-slip flooring
• 8% Grab handles
• 6% Ramp to doorway
• 3% Wider hallways
• 29% Other

Long-term Homeowners Seek Aging in Place Solutions

Of the homeowners who expect to pursue projects, 38% have lived in their home for more than 20 years. Approximately 62% of homeowners have lived in their home for 20 years or less.

"Simple changes such as removing trip hazards or improving lighting may be done by homeowners themselves," observes Cassie Morien, director of strategy and homeowner insights for Modernize. "Professional home improvement contractors are essential for complex projects like walk-in tubs, stair lifts, doorway enlargements, and bath or kitchen remodels. This study shows that many homeowners are forward-thinking as they prepare to remain in their homes as long as possible.”

Morien is available to discuss aging in place survey results in detail, including how the most recent data differs from past surveys and provide guidance on locating professional home improvement contractors.

Methodology

The survey was conducted on Modernize Home Services’ website from January 23 to February 1, 2023, with 4,278 respondents across the United States.

About Modernize Home Services

For more than 17 years, Modernize Home Services has been a leader in the home improvement and services industry, connecting homeowners with contractors and other home services professionals. Modernize operates in more than 15 high-value, high-consideration home segments, including new and replacement windows, solar installation, roofing, heating and air conditioning, siding, bathrooms and kitchens, new and replacement gutters, home security, and others. The business brings a network of more than 1,000 contractors and professionals across all segments, offering broad geographical coverage and choice for homeowners.

Modernize Home Services is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. Modernize.com is a member of QuinStreet's expert research and publishing division.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005971/en/

Jacqueline Leppla

Senior Director of Brand Marketing

QuinStreet, Inc



Direct +1 650 578-7609

Email: jleppla@quinstreet.com

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Source: Modernize Home Services