Adult Couple - Condo Living - YQL Real Estate - Lethbridge AB

As the population ages, many people desire a downsize in their family home as their home becomes too large or too much to take care of, in many instances, it is reasonable to assume a new mortgage or even buy the property outright. There are many options for housing for 40plus and 50plus.

Seniors have a multitude of options to downsize into, many of these homes are in the form of condo-style complexes, but they can also be townhomes, bungalow style-one level attached homes, usually called “villas” and offer a variety of features that may be appealing, including things like recreational centres or common areas.  People are able to enjoy the social aspect, but also the low maintenance lifestyle.

While the housing industry is trying to cater to the outgrowth in the demographic and wealth in the senior citizen category by building brand new, state of the art homes. There are still some adult buildings that have been around for years, which provide a modest and affordable housing option. Lastly, there is an option for seniors-oriented rental housing.

Difference Between Adult-Oriented and Age-Restricted Developments

It is important to know the difference between adult-oriented and age-restricted, as there is a big difference.  Many condo complexes are marketed to mature and wealthier people, however, most buyers will fit into that demographic, yet they are open to anyone — even with kids — who choose to buy and live in that building.  If it was specifically same-age neighbours you wanted, you need to buy in a fully age-restricted condo development.

The value of an age-restricted condominium is keeping out the younger, noisier people.  Oftentimes, there is a social group or sense of community created within these condos, with many amenities including opportunities for social activities including movie nights, cribbage tournaments, billiards, and sometimes even joint outings. Certain housing complexes also offer in-house meal services as an option as a form of partly-assisted living.

There are many options to choose from, that you may just want a Realtor® who knows the seniors’ market to serve you toward finding the right one.

If you are looking to buy an adult condo or senior condo in Lethbridge, call Peter at 403-394-7721 or send us an email.

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