Perks of Living in a Condo for Senior Citizens

Like it or not, we are all headed towards our retirement. Senior living may be a few years ahead for some of us but working towards a good quality of life when we reach the retirement stage is the main goal.

Condo living is increasingly becoming a popular choice for retirees who might not be keen on living in a detached home due to the high maintenance it requires, and for seniors who are not decided on living in a retirement home. A condo lifestyle has safety features and allows retirees to keep their independent living while receiving support from a community of unit owners.

Often located near places of convenience and access to amenities and facilities, condominiums offer an ideal home for those moving into their golden years. Here, we highlight more benefits of condo living to seniors.

Benefits of Condo Living to Seniors

A detached house is a great option for people in their younger years but the disadvantages often outweigh the benefits as people age and become empty nesters. Coming into retirement, retirees might want to keep their lifestyle simpler and as much as possible avoid the complications of house ownership.

1. Affordability

Compared to buying a house and lot, condos are more affordable and are more practical to maintain. The elderly can save more money since they do not have responsibility over the entire building exterior and the surrounding land. For a person nearing the age of retirement, condos are a less expensive investment, allowing retirees to spend their money on health maintenance, travel, hobbies, and their loves ones.

2. Access to amenities

Compared to living in a senior retirement community, condo living offers a more vibrant living space where retirees can enjoy a wide range of amenities from swimming pools, sporting facilities such as basketball, tennis, and badminton courts, gyms, and playgrounds where they can walk and enjoy the younger energy of their neighbors or condo residents. Most condos also include commercial amenities, with full-time shops or visiting practitioners allowing seniors the ease of access to goods and services on-site.

3. Security and safety

One of the perks of condo living is having a receptionist who can verify condo visitors and assist senior residents in the case of an emergency call. They are given the peace of mind knowing condos have a 24-hours security service and CCTV cameras placed in the building. The building’s halls and corridors are also equipped with fire sprinklers, smoke detectors, and fire distinguishers.

4. Social support from a community of condo residents

Condo communities offer to senior citizens a chance to make new friends. Unlike detached houses that can isolate them, condos make for great retirement communities because of the support group that retirees can build with the many people that live in the same condo. Retirement condos may also have social clubs that meet up for trips or a common hobby so senior citizens wouldn't be idle.

5. Maintenance free or low maintenance

Condominiums require zero to minimal maintenance since every condo unit owner is responsible only for what is inside or within his or her apartment, while the condo’s administration or developer takes care of the upkeep of the entire property. Living a simpler lifestyle will cost seniors less monthly fees.

Things to consider when retiring in a condo

Condo fees may require residents to include them in their monthly budget. The condo fees include: association dues, membership fees, realty tax on your unit, share of realty tax on the land where your condo is constructed, share of realty tax on common area and parking fees. It is important to remember though that condo living fees may be worth it since they allow seniors to relax and enjoy life instead of wasting time and energy on property maintenance and repair.

Another area of concern would be the implementation of condo rules and regulations. Some residents may feel restricted although these limitations often uphold the peace and order and wellbeing of all residents.

Is condo living for you? For senior citizens, condominium communities can be the most ideal set-up if they want to spend their senior years with an upgraded lifestyle, comfort, and convenience while keeping their finances in control.