The Benefits of Condo Ownership for 'Experienced' Adults (a.k.a. Seniors)

One of the cool things about working in real estate is the variety of people I meet, in all age groups and different stages of their life. I've had the privilege of working with a few clients who are over the age of 60, retired or soon to be retired, and they're ready to downsize. I like to call them 'experienced adults', since in my mother-in-law's words, "senior sounds too old." 

These clients typically come to me with very clear real estate criteria. They know what they want, where they want it and what they can afford -- and for many experienced adults this means a condo. The reason is the many benefits of condo ownership. Let me break them all down here for you...

The Benefits of Condo Ownership for Seniors

1. Carefree maintenance

If something goes wrong with your toilet, the water pressure isn't right or your furnace starts making a weird noise, you just have to pick up the phone and call your condo's maintenance team. You don't have to pay for the service, as it would be included in your monthly maintenance fees. On that note, many buildings include water and/or hydro in the maintenance fees, so that's also one or two less bills to worry about. And don't forget that garbage day is also a thing of the past. Just put your trash and recycling down a chute whenever you feel like it.

2. Goodbye snowshovel

Didn't that snowstorm last week suck? I was outside snowblowing at 10pm, wishing I lived in a condo....and I'm not even 40 yet! For those experienced adults who are less mobile or simply don't want to shovel or snowblow, a condo might actually mean enjoying winter rather than dreading it. Plus, you can travel and not worry about your driveway having a few feet of snow in it when you return. Another benefit: your car will likely be in a covered parking garage so you don't have to scrape off a pile of snow.

3. Safety and security

Gated parking lots, buzz codes, security cameras, concierges and a lot of friendly people with familiar faces - this is what makes condo living safe and secure. You can walk out your locked door and worry very little about a break in. There's no newspapers or mail to pile up at your door saying "hey, I'm away right now." You can also leave for longer periods of time (I'm talking to you, snow birds), and not worry about pipes freezing or other issues that may arise in a home that's vacant from November to April.

4. Social atmosphere

Many condos have events and gatherings for the residents. Everything from card tournaments to bingo to movie nights to potlucks. The events are also very convenient since you don't even have to leave your building.

5. In house amenities

Combined with the social atmosphere are the many in house amenities. Most condos have a pool and fitness room so you can stay active, or keep the grandkids entertained when they come visit. A party room is another added benefit, especially for those who like to host big family gatherings. I'm even now showing condos that are equipped with theatre rooms -- talk about one-stop living!

6. Proximity to shopping and outdoor activities

Condos are usually built in areas with easy access to shopping, grocery markets, banks and other essentials. In many communities, particularly in Barrie, outdoor activities are right at your door step. For a senior without a car or a driver's license, this is often one of the primary benefits of owning condo real estate.

Are you convinced of the benefits of condo living?

I see a condo ownership in my retirement future, mostly because of benefits 1, 2 and 3 above. How about you? Tell me in the comments below, or on Twitter or Facebook.