Niche Senior Communities the Next Wave in Retirement Living

Over the next two decades baby boomers will be retiring en masse. This means that the demand for quality and unique senior housing will increase dramatically. However, the seniors that will be retiring will not be looking for a quiet, cookie-cutter retirement village. Instead, baby boomer seniors want retirement communities that have very specific flares, style and amenities. Welcome to the age of niche senior communities.

The Niche of Retirement

Historically the only niche element that was related to retirement villages was that they were designed for senior citizens. Beyond this fact they were all basically the same. They were condo style apartments, with property maintenance and maybe a central activity center on the complex grounds. Today, however, this has changed dramatically as there are niche communities being developed all over the country.

Niche Communities

Niche communities for senior citizens are very specific in their characteristics and amenities. The niche foci of the communities that are being built range from ethnicity to life philosophy. This means that seniors can select from retirement communities that are organized around things that are important to specific ethnic groups, or that are important to people who value protecting the environment or who value an active lifestyle. This range of community foci allow seniors to find a place that they really feel comfortable calling home.

Selecting a Niche Retirement Community

When you select a niche retirement community to invest in, it is important to understand all of the rules that come along with the community. For example, there may be limits on how many guests you can have visit at any one time, there may be curfews in place or their may be exclusions of pets and children. In addition to basing your decisions on what is excluded from a community, you may also want to examine what is included in the community. For example, you will want to look at what facilities are on the property, what amenities are public use and which amenities are pay per use. Finally, remember to read what the price of your apartment or condo includes. Most communities will include taxes, exterior maintenance and security in the price, however, other costs like homeowner's fees, utilities and amenities may cost you extra.

Location, Location, Location

While a niche retirement community may sound great on paper you need to visit it to really get a sense of its atmosphere. As you drive to the site take note of how close it is to shopping and recreation, as well as how close it is to medical care facilities and public transportation. Also keep in mind that while you may be mobile and active now, there may come a time when you are not able to drive yourself or get around easily. It is because of this that you will want to examine how the community is designed and how accommodating it will be if you need a wheelchair, a walker or if you need other types of assistive equipment.

References

http://latimesblogs.latimes.com/home_blog/2010/02/niche-senior-housing-the-wave-of-the-future.html