What are the trends that are impacting the retirees of today? Well, we can say that it is a combination of health and technology. These trends mostly come through retirement villages.
And retirees are trying their best to navigate through trying times and adjust to various trends, and coming up trumps most of the time.
Holistic wellness is not just a term coined by the young, young, and young. Older people are also trying to retire in places that cater to overall well-being and mental, physical, and emotional health. Rather than traditionally handling problems linked with old age, estates are now supporting an active lifestyle to improve personal health.
This may mean the inclusion of some important sports and recreational facilities like the setting up of various community-based interest clubs, lifelong learning programs, and the required support structures within the paradigm of the retirement estate.
Change to the Life Rights Purchase Model
There has been an immense impact of the Covid-19, especially on the financial aspect of things, and hence the retirees are veering towards the flexible Life Rights purchase model. This may allow the investors to enjoy the exclusive use of the unit purchased for a lifetime at a discounted price.
One of the other life-right models is flexible pricing. This means that it is easy to purchase life-right units at a low price in exchange for a much-reduced capital return. Depending on the retiree’s financial resources, the financially strong developer can take a long-term view on returns.
The deceased estate will ensure you get the full purchase price back, and the developer gets to keep the house. Although you may not get capital gains, you can get your hands on a property at a much lower amount. The developer manages the estate on behalf of the residents. With the continuous investment by the developer, there is less risk of run-down estates and steep special levies with the aging of the villages. With these benefits, the life rights holder lets go a part of the capital growth to the resale of the life right.
Smart House Establishment
Retirees are no longer technophobic. They are as comfortable on video calls, streaming videos, and user-friendly apps as their younger counterparts. Retirees are taking this trend to the next level as they interconnect all devices and create the ultimate smart homes that can make everyday living easier and fun. Retirement estates are trying to make the dream of smart homes come true by installing fiber optic cabling and ensuring the homes have fast WiFi access.
If you are sick, you don’t have to venture out of your home to seek treatment. You can do video consultations and make treatment easy and successful. Retirees are trying to get in a diagnosis even before they step out. This trend is all set to develop in the future.
Retirees opt for video consultations with medical professionals rather than risking health by visiting medical centers for routine checks. This will undoubtedly continue to develop in the future.
The Marie Kondo method of simplifying one’s life is by only retaining items that bring joy has certainly become a key trend when moving into a retirement estate. You don’t have to downsize your retirement lifestyle.
Rather consider smart sizing, as you design living spaces that are bordered on lifestyle. So, it involves open-plan living and enjoying a clutter-free life.
Baby Boomers Catering to Varied Aspirations
Today’s retirees or Baby Boomers born between 1946 – 1964 have different needs and aspirations than the previous generation. Boomers are changing the world of work dramatically and are also reshaping retirement and retirement living.
When it comes to retirement living, retirement villages opt for beautiful spaces, convenience, work-from-home options, greater access to technology at home. Of course, there are other amenities such as gyms and heated swimming pools. Besides that, it also offers great independence and flexibility to the residents.
Also, boomers want discreet healthcare options if the requirement occurs. They will also want to try out flexible purchase models and easier-on-the-pocket levies. Some Boomers will continue to live at home with varied technologies and amenities. Others will move to retirement villages that promise a more modern retirement lifestyle.