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Renting or selling to Seniors

DiscoChick

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Mar 9, 2012
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I am looking to purchase a +55 condo in Calgary for a relative to stay for the next 3 to5 yrs, however thinking of the longer term prospects; I am wondering if +55 condos rent well or even sell , it seems to have narrow niche and possibly most seniors who live on their own would rather be in a seniors home as opposed to renting or purchasing a condo, am I right with this conclusion?
 
Seniors go to a " seniors " home to die, usually well into their 80's. That still leaves 50% of the over 18 population to rent to. I see no problem whatsoever with a 55+ condo to buy or to rent.
 
As a "senior" or "almost senior" (depending on who you deal with), the last place a "senior" wants to live is a "seniors'" home. For as long as possible, hopefully til I die, I want to live in an active community with a stimulating mix of people of all ages, interests and backgrounds. Some seniors can't or don't want to handle a single family house, so would rent or buy a condo.



Us baby boomers are entering our senior years, so the trend would be good for your idea. If you read Harry Dent's stuff, there are three waves of baby boomers, the biggest wave being the 3rd one, in their early 50s now.



I'd research how popular 55+ communities are. I may not be a typical "almost senior" in that I kind of like hearing the 2 year old on my floor in my rental building talking and laughing by the elevator near my door. I like a mix of people of all ages and backgrounds around me.



Because I'm over 60, the good old Royal Bank gives me $7.50 off their monthly service charges for my chequing account. Isn't that nice of them? (lol)



Hope this ramble helps,

Margaret



Mama Margaret & Friends Cooking Adventures In Italy

www.italycookingschools.com
 
Thanks Margaret and Thomas for the insights and suggestions. I think the fact that there would be an influx of baby boomers in the next few years is a good indication that there would be a market for people looking to buy or rent in +55 only buildings.
 
Why not just purchase a condo with no age restrictions....?
 
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