Downsizing to luxury condos can be a reality for the seventy year old baby boomers and post-war babies in full swing of retirement. Even though the babies from the post-war period are still quite a ways from needing sheltered or assisted accommodation in retirement villages, many baby boomers and post-war babies are ready to downsize from their long-time family home. Downsizing to luxury condos after retirement is a great option. If you are considering downsizing to a luxury condo, then there are some things that you should think about. Look below at the 4 top things to consider before downsizing to a luxury condo.
- Luxury Retirement Communities
There are many luxury condos that naturally become beautiful retirement communities as the population ages. If this is the kind of lifestyle you seek then these kinds of communities are the right choice for you. However, some retirees want a mix, which is why it is important for people to have the right type of luxury condo community to meet their needs and preferences.
- Vulnerabilities and Convenience Knowledge
Retirees and older people know they need to meet their vulnerability needs while also appreciating convenience upon retirement. This is the time when retirees and older people are beginning to face their vulnerabilities and the importance of convenience such as a ground level condo that has an amazing view or a luxury condo that is in a high-rise with an elevator.
- Luxury Amenities is a Must
Luxury amenities is a must for 55+ and retires. This could be a pool, parking underground, services from concierge, shopping that is easy to get to, and cafes and restaurants that can capture the attention of baby boomers and retirees in today’s competitive market for luxury condos.
- Location is Key
Location is key for any older people buying a condo. The location should always be thought about before the purchase, even all expert professionals can’t stress this enough. When you are looking at a condo to purchase, then look over the location very carefully. Retirees want to have easy access to leisurely activities, community facilities, and shopping now that they are retired.
You also want to make sure that the money that you are investing in the condo will secure your investment. Does the condo complex have a pool, gym, or any other added spaces? A smaller condo has many advantages and offer these type of amenities, but any condo that offers the extras come with a higher price, so think about if these added features are worth the extra money for the condo?
- Are there maintenance fees with the condo and how are the fees be expected to be paid?
- Are non-slip surfaces supplied in the condos? If so, where are they located?
- Can walkers be easily used at the condo?
- Are the cupboards easy to get into?
- What type of lighting is supplied?
- Is the bathroom designed for older people and can older people get into the tub or shower easily?
- Can a wheelchair be used in the bathroom?
- Does the condo come with modern technology features such as remote control drape opening and closing, remote control lighting, and full-time security?
- Does the condo community have a dining room and an activity room? If so, can these rooms be rented?
- Do you provide enough storage?
- Are pets allowed at the condo and are there certain rules for pets?
- Is there any way I can see the design and developers other properties? Am I able to talk to any of the residents that live in the condo community?
- If I have to use a wheelchair later in life will I have access to all the luxury ameneties.
Purchasing a luxury condo after retirement is a big decision. Here are more questions that you should consider: