[Senior Trend] What Kind of Home Do I Want to Live in as I Age?

My Wish for the Space Where I Live

A home is both the most important asset and a physical place. It is a sanctuary where one can rest, and the space reflects the tastes of its inhabitants, resembling its owner. The senior generation used to downsize their homes as they aged. As children grew up and left, the house felt empty; larger homes were harder to clean, and smaller homes were better for reducing fixed living expenses. With not many years left to live, they preferred to keep things familiar and rarely made major changes to their homes. Although not entirely like naturalists, they wanted to be close to nature, so they often visited mountains and parks or traveled, leaving their homes empty for periods, which was understandable.

Nowadays, seniors are changing. They want sufficient and personalized spaces. In their childhood, they lived crowded with many family members and could hardly dream of having their own room. Even if they became independent in their youth, they often lived in standardized spaces like dorm rooms, goshiwon (small study rooms), or one-room apartments, spending most of their time just sleeping. When they could afford their own homes, their children came first, and the ‘future price’ was important. Now, with longevity expected, it is natural for them to hope for ‘their own space’ after retirement.

This trend started first in the United States. According to the National Association of Realtors, demand for new construction or home renovations is active among those aged 50 and above. American seniors want bigger and more luxurious homes to enjoy their golden years. Previously, retirement was imagined as lying comfortably on a sofa watching TV until dozing off, but now seniors have diverse hobbies and lifestyles. Even after retirement age, at least two generations often live together. With ‘kangaroo kids’ (adult children living with parents) or grandchildren to support, the need for space has increased. Compared to past seniors, current seniors tend to have savings, and lower interest rates in the housing market have supported this. After experiencing periods like the COVID-19 pandemic, which restricted travel and outdoor activities, seniors spent more time at home and realized what made them uncomfortable or comfortable. They now need homes where they can enjoy hobbies, gather with loved ones, and accommodate multi-generational living.

Recently, a 72-year-old wife and 80-year-old husband appeared on KBS’s senior talk show ‘Hwanggeum Yeonmot’ (Golden Pond). The wife wanted to live in a convenient apartment with a management office, while the husband wished to pass away in the house he had lived in all his life. These were their last wishes, but it turned out the husband had more than five hobby rooms, including a room collecting bottle openers from around the world and a room full of books. Eventually, they resolved the issue by clearing one hobby room to create a room just for the wife. After retirement, they enjoy various activities such as painting, gardening, and yoga, finding fulfillment in having a home or space that reflects their tastes and personalities.

There is more evidence. Last month, ‘Korea Build,’ an exhibition related to architecture, interior design, and construction industries, was held at KINTEX. It showcased trends in architecture and related industries, from space design to modular homes, safety, and building maintenance. The exhibition was bustling with seniors, featuring outdoor terraces, farm sheds, pavilions, country house design and construction, gardens, custom home building, various home repair products, mini saunas, fireplaces, massage devices, and pet supplies. Except for families with young children and business visitors from construction companies, the attendees were mostly seniors.

They actively sought consultations, asked about prices, and opened their wallets. The most popular items were modular homes and gardening supplies. Modular homes ranged from portable types with wheels that could be attached to vehicles to capsule-style units about 3 pyeong (approximately 9.9 square meters), priced between 10 million and 50 million KRW, with brochures running out quickly. Seniors were also buying items like houses made with earth materials, cypress wood materials, specialized scissors useful for trimming peppers or sesame, and hose handles convenient for watering.

The furniture booths were also crowded and interesting. They offered customized interior consultations, promising to create spaces reflecting ‘your own taste,’ using 3D technology to add furniture and preview the renovated home. For seniors not building country houses or villas, repairs to their current homes focused on bathrooms and storage. These booths showcased materials that replicated natural ones like expensive wood or marble, considering preferred colors, health, and functionality, tempting customers by promising to ‘complete a combination just for you.’

Additionally, there were safe companies that seniors boasted about at housewarming parties, paintings and bright lighting to decorate walls, and various types of stoves and ovens. Items like personal home bars, blackout curtains for better sleep, and large dining tables for inviting friends also attracted attention. As safety becomes increasingly important, several related companies were present.

The biggest barrier is likely budget (money), but the dream of seniors to create homes that truly reflect themselves seems to continue.

Lee Boram, CEO of Third Age

This content was produced with the assistance of AI translation services.