As property developers, it is important that we know our market and take time to listen to what people want and need when it comes to property. Modern retirees are demanding more when it comes to how they live their retirement years, and there is a big emphasis on having security while still retaining independence and the power to make their own choices. Independent research has revealed the most important things that people want when it comes to their retirement:
1. Security
2. A care centre located on-site
3. Pet-friendly
4. Clubhouse and the option for home-based care
5. Pool
6. Storage
The data also shows the need for independence with 45% of our respondents would opt for a freehold home while 30% prefer a sectional title scheme. Interestingly, people still want to have an additional bedroom and there is a clear preference from the market for 2-bedroom homes. Having an additional bedroom allows people to create a home studio, workshop, or study or to accommodate family when needed.
What it means to be a retiree has changed so much – a retiree can be as young as 50 or conversely, someone may only decide to retire in their 70s. There are no rules when it comes to retirement, however there are a few things we believe that people should consider when purchasing a retirement home:
Affordability
Be careful not to overcapitalise and rather invest in something that offers the quality of life you desire but also leaves you with some money in the bank.
Type of ownership
Life Rights? Freehold? Sectional title? It can be a bit overwhelming to know what’s best for you, but it pays to weigh up the pros and cons of each ownership type before you sign on the dotted line. Also consider your lifestyle (this includes having pets) and which ownership scheme is best suited to this.
Security
Physical security is a must and any reputable developer will continuously strive to improve this. Biometric access, manned gatehouses, 24-hour guard patrols and a secure perimeter are all standard provisions when it comes to estate living, so look for an estate that is at the forefront of security tech.
Connectivity
There is hardly a person out there who doesn’t depend on virtual communication of some kind, whether that be WhatsApp, Facebook or iMessage- we all want to be connected to family and friends. Consider opting for an estate where fibre infrastructure is already provided and ready for you to plug in. With the advances in our networks, many developers are also able to provide Wi-Fi to common areas such as estate clubhouses, gyms, and social spaces.
Location and convenience
Consider things like access the outdoors and green areas, as well as to the beach, and shopping centres, retail outlets, restaurants, and cafés. Recreational amenities aside, also consider accessibility into and out of the estate via main roads and highways. As much as we may not like to think about it, it is wise to be close enough to hospitals and medical facilities for any eventuality