Aging 'boomers' are shifting their priorities
Joe Crawford
Real Estate Matters - October 29, 2007.
Recently, the Canadian government conducted a national census and the
results are interesting to say the least. Here's a sampling of the
findings:
There are now a record 4.3 million seniors in Canada
1 out of every 7 Canadians is now over 65
Retirement-minded Canadians aged 55 to 64 are the fastest-growing
demographic, accounting for 3.7 million people - a 28% rise from just
five years ago.
Canada's median age -- the point where half the country's population
is younger and half is older -- soared to an all-time high of 39.5,
just a few months shy of 40 years old.
Combine our increased life expectancy with a declining birth rate and
the trend to a rapidly-aging population looks set to continue into the
future. As our population
becomes increasingly older, their lifestyle needs will change, and we
can expect that this will have a dramatic effort on the real estate
markets in the future. Here are some of the housing types and
amenities that will appeal to this growing demographic group:
Low maintenance, urban dwellings such as condo apartments and freehold
townhouses
Bungalows and properties with few interior or exterior stairs
Multi-family dwellings, with in-law apartments or 'granny flats'
Easy access to hospital and medical facilities
Access to reliable and frequent public transportation routes
Luxurious features and labour-saving devices that are easily
affordable to these affluent consumers; they may want to down-size,
but up-grade.
If you're looking to buy a home or upgrade your existing property, it
pays to keep an eye on the future and consider where tomorrow's
customers may be coming from. Want help in deciding what home
improvements will give you the most bang for your buck, now and in the
future? Why not contact your local Coldwell Banker ® real estate
professional? You'll be glad you called us first.
After you've searched through some listings online and you're thinking
you'd like to know more, contact me your Coldwell Banker Real Estate
Sales Representative Joe Crawford (519)742-5800 ext 2117. I will show
you everything you need to know when buying or selling in the
Kitchener/Waterloo area.