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Modernize Partners for Aging in Place Trends

As the silver tsunami transforms the aging landscape, contractors and partners must adapt to meet the growing demand for aging in place solutions. With 70% of homeowners planning to age in place, the market is ripe for growth, projected to reach $84 billion by 2026. To capitalize on this opportunity, it's essential to understand the trends driving this shift and equip yourself with the right resources and strategies. By partnering with Modernize, contractors can tap into customized programs, lead generation, and marketing ROI assistance to stay competitive in this rapidly evolving market, positioning themselves for long-term success.

Key Takeaways

• Partnering with Modernize can enhance business growth and ROI in the aging in place market, projected to reach $84 billion by 2026.
• Modernize offers customized partnership programs tailored to annual revenue, fueling business expansion and competitiveness.
• The company provides access to resources, including a contractor resource center, eBooks, and industry insights, to stay informed on market trends.
• Lead generation through conXpros and marketing ROI assistance help achieve business goals and capitalize on the 60% increase in demand for home accessibility projects.
• By understanding aging in place trends and partnering with Modernize, contractors can benefit from the increasing demand for home accessibility projects and modifications.

Understanding the Silver Tsunami

What exactly does the silver tsunami entail, and how will it reshape the landscape of aging in place in the United States?

The silver tsunami refers to the significant demographic impact of the baby boomer generation reaching retirement age. With 10,000 baby boomers turning 65 every day, the population is rapidly shifting. By 2030, 18% of the population will be 65+, compared to the current 13%.

This demographic shift will have a profound impact on the way we approach aging, healthcare, and housing. As the baby boomer generation drives the trend of aging in place, it's essential to understand the implications of this shift and how it will shape the future of aging in the United States.

Defining Aging in Place

As the silver tsunami reshapes the landscape of aging in the United States, it's become increasingly important to understand the concept of aging in place, which is defined as the ability to live safely, independently, and comfortably at home.

This concept is championed by baby boomers, with nine out of 10 seniors intending to stay in their homes. The Centers for Disease Control and Prevention define aging in place as the ability to live in one's own community regardless of age.

For contractors, grasping the concept of aging in place can reveal benefits such as increased demand for home accessibility projects. By partnering with Modernize, contractors can tap into resources and insights to leverage on this growing trend, ultimately enhancing their business growth and ROI.

Market Projections and Insights

A significant surge in home accessibility projects is anticipated, driven by the growing demand for aging in place modifications, with Modernize's eBook 'Aging in Place and Home Accessibility' providing valuable insights into market projections that can inform contractors' business strategies.

Here are four key takeaways from the eBook:

  1. $84 billion: The projected market size for aging in place and home accessibility by 2026.

  2. 60%: The expected increase in demand for home accessibility projects over the next five years.

  3. 70%: The percentage of homeowners who plan to age in place, driving the need for accessibility modifications.

  1. $3,000 to $15,000: The average cost of home accessibility projects, presenting a significant opportunity for contractors.

Understanding these industry trends and opportunities can help contractors capitalize on the growing demand for aging in place modifications and stay ahead in the market.

Resources for Contractors and Partners

Modernize's contractor resource center offers a wealth of supportive articles, insights, and eBooks, including the informative 'Aging in Place and Home Accessibility' guide, to empower home improvement professionals with the knowledge and tools necessary to thrive in the growing aging in place market.

Resource Description Benefit
Contractor Resource Center Access to articles, insights, and eBooks Stay informed on industry trends and best practices
Partnership Opportunities Customized programs for business growth Increase lead generation and marketing ROI
Lead Generation Partners Phone-verified leads from conXpros Targeted leads for your business

Growing Your Business With Modernize

By partnering with Modernize, home improvement professionals can tap into a wealth of resources and expertise designed to help them capitalize on the rapidly growing aging in place market and achieve their business goals. This partnership enables contractors to expand their business and stay ahead of the competition.

Here are four ways Modernize can help you grow your business:

  1. Customized programs tailored to your annual revenue, ensuring a personalized approach to business growth.

  2. Lead generation through conXpros, providing phone-verified leads to fuel your business expansion.

  3. Marketing ROI assistance, helping you achieve your business goals and maximize your marketing efforts.

  1. Industry partnerships, connecting you with like-minded professionals and staying ahead of the curve in the aging in place market.

Frequently Asked Questions

What Are the Most In-Demand Aging in Place Home Modifications?

As the silver tsunami transforms the landscape, homeowners are seeking senior-friendly solutions, and the most in-demand aging in place home modifications are Universal Design features and Senior Friendly Bathrooms, prioritizing safety, accessibility, and independence.

Contractors can stay updated on industry trends and best practices by prioritizing professional development, seeking out industry insights, and engaging in ongoing education to guarantee they remain informed and adaptable in the evolving aging in place market.

Can Modernize Provide Case Studies of Successful Aging in Place Projects?

With 9 out of 10 seniors intending to stay in their homes, Modernize provides case studies showcasing successful aging in place projects, featuring senior testimonials and highlighting community engagement, to inspire and inform contractors on best practices.

Are There Any Government Incentives for Aging in Place Home Improvements?

Government incentives for aging in place home improvements include tax credits for modifications like accessibility ramps and widening doorways, as well as Medicaid waivers for home-based care, supporting seniors' independence and comfort.

How Does Modernize Ensure Lead Quality and Conversion Rates?

With 10,000 baby boomers turning 65 every day, lead quality is essential. Modernize guarantees lead quality and conversion rates through rigorous lead verification, tracking quality metrics, and partnering with conXpros for phone-verified leads, resulting in higher conversion rates for home improvement professionals.

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