Transcript Document

2. 50+ Communities and Properties
 Market geography
 Housing options
 Promoting your market area
2-1
Market Geography
2000 Census showed majority (84%)
of Canadians aged 65 and older lived
in one of four provinces:
 Ontario
 Quebec
 British Columbia
 Alberta
2-2
Market Geography
 Title of "Senior Capital" is shared by
Victoria, B.C. and St. CatherinesNiagara area.
 Most seniors live in urban areas.
 Most seniors stay in their own
homes to their 70s and 80s
2-3
Housing Options
 Independent Living
 Assisted Living
 Continuing Care
 Care Facilities
2-4
Aging in Place
 Remaining in the current residence
 Aging in the community in a different
residence
 Relocating for the last time to a
community that provides a range of
options
2-5
Preparing to Age in Place
 Ability to perform activities of daily living (ADLs)
is key:
Eating
Dressing
Getting into or out of a bed or chair
Taking a bath or shower
Using the toilet
 Facility should be a match for faculties and
abilities
2-6
Active-Adult Communities
 Active-adult communities offer a
range of services, social events,
amenities, and activities to attract
and serve residents.
2-7
Active-Adult Housing Options
 Single-family homes
 Attached homes, duplexes, townhomes
 Condominiums
 Manufactured and mobile homes
 Cluster housing
 Subdivisions
 “Try-before-you-buy” option
2-8
Seniors-Only Apartments
 Apartments are small and easy
to maintain
 Seniors can socialize with comfort,
safety, and security
 No medial or custodial care provided
2-9
Garden Suites
 Second living units installed on a
temporary basis and are built so they can
be easily moved
 Typically occupied by individuals 65 years
or older
 Construction subject to National Building
Code of Canada requirements
2 - 10
Shared Housing
 Sharing a home with a roommate
 Strategy for aging in place
 Organizations help with match up
2 - 11
Independent Supportive Living
 Private apartments
 Independent living with privacy,
supervision 24/7
 Common social areas and
communal meals
 No medical care
2 - 12
Senior Day Care
 Fills in the gap when the caregiver must
work during the day or needs a respite
 Offers supervision, often a noon meal,
social and education activities, and
support groups
2 - 13
Short-Term Stays
 May be offered by independent
supportive, assisted living, and continuing
care retirement communities
 Can provide vacations and care giver
respite
 Try out as a possibility
2 - 14
Assisted Living
 Intermediate step between
independent living and care facilities
 Assistance with daily activities
 For those who cannot live on their
own, are ambulatory, but do not
need nursing care
2 - 15
Continuing Care Retirement Communities
 Increasing levels of care at one location
as residents’ needs change
 Provides security of being taken care of
through stages of aging
 Residents can maintain friendships
 Large buy-in fee, annuity purchase,
monthly fees
 Not for the budget conscious
2 - 16
Board and Care
 Simple small assisted living facilities
 Personal and custodial care
 Converted private homes, unofficial
 4 to 10 residents
2 - 17
Nursing Homes
 Personal care and medical care around
the clock
 Short-term residents who are recovering
 Long-term residents who cannot care for
themselves
2 - 18
Respite Care
 Allows caretakers occasional time off to
recoup emotionally, handle other family
responsibilities
 Alternative is short-term stay in an
assisted-living facility
2 - 19
Alzheimer's Care Facilities
 Specialize in care of patients with
dementia
 Caring for patient at home means families
need to think about:
• Security and safety of environment
• Day care facility availability
• Interaction and recreation opportunities
2 - 20
Second Homes, Future Retirement?
 Use of the property may change as
owners progress through life stages
2 - 21
Converting Rental to Retirement
 Use rental income to offset as much
of mortgage and expense
 Sell primary home and refurbish
rental home
 Sell both homes and purchase new home
2 - 22
Typical Second Home Buyer
 What picture do the data present?
 How does it compare to the buyers you
encounter most frequently in your market?
2 - 23
Promoting Your Market Area
 Help buyers evaluate and balance the
pros and cons
2 - 24
Checklist for Promoting Your Market Area
 Medical
 Market
 Transportation
 Community & Activities
 Fitness
 Climate
 Services
 Senior and Aging Services
 Property Features
2 - 25
Cost of Living
 Most important factor in choosing
retirement location
 Be prepared with information on cost of
living factors
2 - 26