Women Over 60 Are Redefining the Real Estate Market
Women over 60 are a rapidly growing demographic of buyers seeking safety, lower maintenance, active social communities and family.
Why?
Over the years, I’ve helped many women over 60 buy homes in South Florida. Their stories are all different. Some were beginning a new chapter after losing a spouse. Others wanted to be closer to children and grandchildren. Some simply decided it was time to trade home maintenance for more freedom. Some decided they’d had enough of the city and wanted an easier life.
What they all had in common was wanting a home that fit the life they wanted today – not the one they had 20 years ago.
Each person is different. Each story is different.
That’s why there isn’t a single “best” type of home. The right choice depends on your lifestyle, priorities, finances, health, family, and future plans.
Because of this, their housing choices often vary from a traditional home.
As a real estate agent in Florida, these are the things I’ve noticed with women moving or looking to move in today’s world. The following are different types of homes they may be interested in.
Single Family Homes
Single Family Homes often offer space and privacy. In many of the 55+ communities, they also take care of your lawn. One less thing to worry about! Single Family Homes often offer more space with room for friends or family to visit. In today’s world, many of these homes are on one floor which makes for easy living.
Villas
A villa is a single-story attached home. It may be attached on one or two sides usually with no one above you. Some villas have garages.
Many villas also have smaller yards, making them a great option for people who want outdoor space without the upkeep of a larger property.
Villas are easy living without much exterior upkeep. Keep in mind some villas are governed by condo associations while others are governed by homeowner’s association. Condo associations vs homeowner’s associations governing documents will determine who takes care of what, but your lawn is usually taken care of.
Condos
Condominiums can be an excellent choice for buyers looking for a lock-and-leave lifestyle. Exterior maintenance is generally handled by the association, making travel easier. However, it’s important to understand the association’s financial health, reserves, insurance requirements, and any upcoming assessments before purchasing.
Townhomes
Many buyers over 60 tell me they prefer single-story living. While some townhomes include elevators or first-floor primary suites, others require climbing stairs several times a day. It’s worth thinking not only about today’s needs but also how comfortable the home will be 10 or 15 years from now.
Community Living for Women Over 60
Many women over 60 will buy in a community with activities. Commonly known as 55+ communities, they offer amenities and activities geared to the baby boomer.
They offer a social life. People have different interests, and they offer them.
One of the nicest things about many 55+ communities isn’t the clubhouse – it’s the people. It’s easy to meet neighbors while walking your dog, attending a fitness class, joining a card game, or simply sitting by the pool. For someone relocating alone, those everyday opportunities to connect with others can make all the difference.”
Other Things to Consider Before Making a Decision
- Is the community pet-friendly? If you’re a pet lover, this is ultra important.
- Will friends and family have convenient guest parking when they visit?
- Does the house have hurricane protection or can it be added?
- How old is the roof?
- How far is the nearest hospital? Are there medical facilities and doctors nearby?
- Is there a grocery store nearby? Banks, restaurants, houses of worship?
Future Mobility
55+ Communities also offer aging in place. For that reason, many buyers choose a first-floor home or a building with an elevator. This is why I’d stick with a first-floor unit unless they have an elevator. They offer people with like – minded interests who often look out for one another. It’s a nice thing.
Gated or Non-Gated Community?
That’s a personal decision. Many women will move close to friends or family. Some are more comfortable in a gated community while others don’t care.
Financial Considerations
Before buying, make sure your monthly budget includes property taxes, homeowners’ insurance, HOA or condominium fees, utilities, maintenance and any future repairs – not just the mortgage payment.
There is no one-size-fits-all answer.
Some women want a villa.
Some want a condo.
Some want acreage.
Some want to lock the door and travel.
Some want grandchildren every weekend.
Some want peace and quiet.
The best home isn’t always the biggest or newest. It’s the one that supports the lifestyle you want for this next chapter. Taking time to think about your priorities – whether that’s less maintenance, more social opportunities, being closer to family, or finding a pet-friendly community – can help you make a decision you’ll be happy with for years to come.”
Let’s Have a Conversation:
Are you a baby boomer looking to make a fresh start and finding a home for your next chapter? Do you have any questions that might help make your decision easier? Let’s talk about it!
Read More
