Spring is springing! Snow is receding and temperatures are rising. Isn’t it time to start thinking about your future? How much longer do you want to shovel snow (or be fined for not doing so)? Head to more temperate climates in the South.
Whether it’s a coastal community, a golf community, or just a nice town, check out AARC’s Seal of Approval communities and explore your options for the retirement destination that fits your lifestyle. AARC is your source for the best in retirement destinations. Whether it’s a planned retirement community or just a great town that welcomes retirees, AARC has already done the research for you! I hope you’ll take to time to learn about our Seal of Approval communities here.
Jeff Fleming Chair, The AARC
Snow Motivates 50+ Home Buyers
Kelly Godbey, Ideal Living, Associate Publisher
The number one reason pre-retirees want to make a move during retirement is to escape snow and ice for a warmer climate, according to survey results from the recent Ideal-Living Resort and Retirement Expos. The same survey indicates that in addition to their exhaustion from shoveling snow, the 50+ buyer seeks lower taxes and cost-of-living.
Many singles and couples alike are searching for a new lifestyle with increased social interaction and outdoor activities to spend their later years. They realize that it is time to get out and start living today rather than waiting. Many choose to purchase a second home that they can later retire to or to find a permanent new home. Although many retirees purchase larger homes the Ideal-Living surveys indicate that the majority of people want to downsize to homes between 2,000 and 2,500 sq. ft.
Coastal areas, followed by lake and mountain regions are the most popular. For the 50+ buyer, walking trails are a must as is access to fitness centers, quality healthcare as well as fine dining and shopping. The 50+ buyer wants to spend time travelling in retirement.
Bonnie and Neil Fell recently retired to Pickney Retreat in Beaufort, SC from Chicago, IL. Bonnie said, “This is such a different lifestyle for us because we’re outside all of the time. The pace of life is slower and there’s time to relax and appreciate the amazing beauty around here…. Our favorite activity is “dock talk.” We come out on the dock and just talk and watch the birds—we saw a bald eagle yesterday!—and at night we look at the stars because it’s so dark you can see them all. Tonight we’re going with a group to watch the space station pass over. You can’t see that in Chicago!”
Developers prepare for ‘silver tsunami’ of baby boomers
Bill Lewis, The Tennessean, March 17, 2015
Real estate developers in Williamson County expect to find gold in a “silver tsunami” of retirees who want to live in communities designed for people 55 and older where they are surrounded by neighbors who share their experiences and interests.
Two new “55-and-better” communities are being developed in Williamson County, in Nolensville and Franklin. They join existing developments in Franklin including Morningside (the county’s largest active adult community), Windsor Park at Fieldstone Farms and Reid Hill Commons. In Brentwood, The Heritage serves residents 62 and older with a variety of options including active adult living and assisted living.
Bob Goodall, president of Goodall Homes, believes 55-and-better communities will become increasingly popular as more retirees buy homes in Middle Tennessee. About 8,000 baby boomers turn 65 every day, according to the AARP.
“We’re at the beginning of the baby boomers retiring. It’s a silver tsunami. Fifty-five-plus is huge,” said Goodall.
His company is building Williamson County’s newest 55-plus communities. In Nolensville, the Cottages at Bent Creek will have 36 residences. In Franklin, about a third of the 377 homes planned for the new Water’s Edge subdivision along Carothers Parkway are designed for 55-plus buyers.
Demand is strong, said Goodall Homes Vice President Chris O’Neal. Construction is just getting underway, but 10 homes have already been sold at the Cottages at Bent Creek. The subdivision is being developed in Nolensville on Siegert Place.
“In Williamson County, when it comes to the 55-and-better buyer, the market is very underserved,” said O’Neal.
Goodall offers design features including one-level floor plans, no-step entries, wide interior doorways and extra space built into kitchens and baths.
The Cottages at Bent Creek and the 55-plus phase of Water’s Edge will feature attached homes with two bedrooms, sunrooms, two-car garages and private courtyards, said O’Neal.
“We have people coming into all of our Franklin communities asking for one-level,” said O’Neal. The Cottages at Bent Creek and Water’s Edge will have their own personalities, he said.
“There’s a quaintness about Nolensville. It’s a small town but only minutes away from Cool Springs and Brentwood. Water’s Edge has more of a Franklin feel” and will appeal to homeowners who want to enjoy activities downtown.
Retirees flock to Tennessee
Jessica Huggett, a Realtor with Vision Realty whose specialty is serving the 55-and-up market, said active adult communities appeal to people downsizing from a larger home nearby and to those moving to Williamson County for retirement.
Some may be moving to be close to their grandchildren. Others might be attracted by the region’s mild climate and central location or the fact that Tennessee does not have a personal income tax on earned income. “Their pensions don’t get taxed here the way they do in other states,” said Huggett.
Communities that attract retirees experience real benefits in return, she said. “They’re volunteers. They provide such a welcome service to the communities where they live,” said Huggett.
She believes demand for active adult living will continue to grow. Other builders have an opportunity to enter the market now that Lake Providence, the Del Webb 55-and-better community in Mt. Juliet, is nearing completion.
“I really believe more and more builders will see the advantages of active adult communities. We don’t have a lot,” said Huggett. “It would be great to have another Del Webb in the Nashville area.”
John Rochford, whose company, Rochford Realty and Construction Co., developed Windsor Park and Reid Hill, expects the 55-and-better market to keep growing. “People 65 and older are the fastest-growing segment of the population,” he said. “The senior market is going to have to be served with more housing.”