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Retirement Homes Trends

Trends lean towards more variety and active, social lifestyles 

Present and future developments in senior housing in North America

 

  • High-end luxury seniors' residences and communities offering a vast choice of amenities, including spas and state-of-the-art fitness clubs, bowling alleys and putting greens, beauty salons, art studios, Internet lounges and gourmet dining
  • Increased demand for more varied recreational and social activities
  • Increased demand for luxury, shown by the fact that expensive two-bedroom suites have the lowest vacancy rates
  • "Customer-centric" service. This is the mantra of today's retirement home industry
  • Ownership as an option to stricly rental facilities, with growing interest in retirement condos and life-lease homes
  • Active seniors joining retirement communities at a younger age
  • Seniors retiring to cottage country and eventually moving into a retirement residence there (compared with Ontario as a whole, a higher percentage of the age 75 and over population in areas like Muskoka and Simcoe County are living in retirement residences)
  • Meeting the needs of active seniors as well as those needing more care, allowing residents greater opportunity to age in place
  • Broader range of health services with more health-care support than in the past
  • Developers planning and building retirement residences and communities today, anticipating the amenities and services that will be in demand in 10 to 15 years. However, most of the luxurious residences being built today will be mid-range in 20 years from now when standards are set even higher

 

Retirement home trends boiling under

The experts looked into their crystal balls and told us what they see as the future of retirement homes in North America:

  • Destination retirement communities, with people from across the country gravitating to these purpose-built, expansive communities where residents can age in place
  • More choices, including condominiums, townhouses, bungalows, arranged in small and large settings to cater to increasing consumer expectation and market demands
  • Larger suites in retirement residences
  • More varied and lavish amenities and services, e.g., a home theatre in every suite
  • Greater range of innovative programming, including opportunities for continuing education
  • Higher levels of health-care services supporting aging in place

 




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