Finding A House When You Are Soon To Retire

When people start looking for a house after they reach or will reach 50 yrs. of age, a lot many things change in your property search process, the factors like luxury transforms into factors of safety or the city lifestyle is overtaken by community style. There are only a few builders who make houses that revolve around the need of elderly people. The importance of having a house or society that provides care facilities to elderly on one call is not a common idea in Indian realty market presently. Let’s see what they are looking for and if it’s possible to deliver that.

Metropolitans like Delhi, Bangalore etc. have seen a rise in the soon to retire population who come to be closer to their family who work in the metros. The increase in this trend can be attributed to the fact that they want to be close to their family once their job life finally ends, or most of them get apartments from the company they work in, and so they have to vacate it after the tenure ends. However, apartments that support their needs are not a common establishment in India and it therefore falls under the niche segment for both buyers and developers.

Out of all the metropolitan cities, Bangalore has marked its name for offering the maximum number of projects aimed towards the senior class of buyers. The reason behind this is simply that the city is also the hub of employed people thus making their soon to be retired family members look for a house here.

What they need?

Soon to retire property investors need houses that give them high security, on call health care facility etc. the locality they looking for when they look at the house for sale in Bangalore ads is also very peculiar. Their demands can be met by projects that are only made by keeping them as the centre of attention. Some of the facilities that they require to be around them are:

  1. Open space

The house that they are going to settle for, need to have a lot of open space for them to walk or do recreational activities in.

  1. Club or community

As new retirees are not used to the idea of sitting idle at home, they would prefer some activities like club management or meeting new people whom they can form a community with, all these things would need a club or similar place where they can do some recreational activity and meet new people.

  1. Safe

When it comes to elders, safety becomes a dominant factor. The house they are going to be living in to protect them from both external problems like theft and internal like a fall or any other related to health.

  1. Healthcare facility

Multi-specialty functional hospitals should be in the close proximity of where their house is in.

  1. Uncongested roads

The roads near their house should be free of traffic but not vacant. Also, they should be developed properly to prevent any type of accidents.

  1. Distance

The travel distance between their and their children house should be less to save them from spending unnecessary time in traffic.

  1. Public transport

The locality in which they live should have public transport service in abundance to make it easy for them to reach their destination with ease and in time.

  1. Religious place in proximity

It’s seen that once people start getting old, they become closer to god; therefore, their house should be near some religious place.

  1. Cost effective

As they are not entitled to home loan anymore, most of the soon to or new retirees have less funds with them, thus it’s important that they get to buy a house that suits their budget and savings.

  1. Green belt

It’s important for elders to live in the close proximity of green belt to save them from pollution and unnecessary noise.

Developing a house which suits retirees present and future needs the one that provides them with a good and safe location and which is known for having healthcare facility in the premises and green belt amenities in the locality in addition to high connectivity is not an easy task but a number of developers offer not just apartments but also villas in Bangalore focusing on the senior citizen needs.

Author Bio: Tripti Rai, a keen observer who writes for 99acres.com and swears on fiction readings. Professionally working with a concentrated focus on real estate sector, she keeps her readers informed about latest developments in real time through her writing. When found not writing or reading, she is busy thinking about the next book or writing inspiration. You can find her on G+ and LinkedIn.