Real estate remains one of the best forms of investment. It is suited for personal use but can also generate passive income as a rental or investment property. Although real estate investment knows no age, the empty-nesters or those in their retirement age may have specific things to consider when searching for options in the local market.

As you age, your needs and priorities change. That goes true even for real estate investment. If you are in your golden years or already past it, here’s an article that shares some important facts about real estate for seniors.

Your Quick Guide to Real Estate Investing for Seniors

Choose a trusted real estate developer.

One of the easiest ways to find a good property is to transact with a trusted real estate developer. Essentially, this is the step that will set you on the right path and keep you from encountering unnecessary problems.

When searching for properties, you will encounter various real estate firms. To ensure that you’ll work with the right one, here are some of the most important qualities that you should look for.

• Impressive track record. The reputation of a company could be based on what they have accomplished. Do they already have past projects that you can check? How long have they been in the industry?
• Quality work. Check the past and present projects of the real estate developer. Do a site visit to know if their processes and the materials they use comply with industry standards.
• Good customer feedback. It is important to know what their clients say about them. This will give you insights into how they deliver their promises or value client relations. Client feedback or testimonials could spare you from experiencing problems that other buyers have gone through.

Research locations.

Location remains relevant whether you’re young or old. For seniors or empty-nesters, it is important to find a place where one can comfortably settle in. Look for a real estate property in a good neighborhood. Consider the places that you commonly frequent. Accessibility is an important factor at this point in your life. Make sure that there are various forms of transportation near the property. You’d want to conveniently travel to and from the place. As empty-nesters, you’d want visitors to reach your place easily so they can come back as often as they want.

Find a secured community.

Safety should also be a top consideration when choosing real estate for seniors and empty nesters. Live in a place where you can feel safe and secure. One of the ways to live a comfortable and stress-free life is knowing that you can live in a good community that doesn’t pose threats to your safety and peace of mind. Aside from considering a low-crime rate, a gated community with 24/7 security can contribute to your peace of mind.

Support a healthy lifestyle.

One important factor that should not be overlooked when choosing real estate for seniors is to ensure that a healthy lifestyle will be taken into consideration. Look for a real estate development with amenities that can contribute to your wellness. Parks and open spaces would be great for morning or afternoon walks. A green community or a beachfront property also offers benefits that can help improve your overall wellness.

Consider condo living.

People in their senior years deserve a stress-free life. One way to achieve that is by choosing a condominium over other types of real estate properties. Buying a condo will allow seniors to live comfortably and with fewer things to worry about. It also comes with benefits that are perfectly suited for empty-nesters and senior citizens.

• Condo living eliminates the need to worry about home repairs and regular maintenance. 
• It provides a safe community with 24/7 security.
• Most condominiums are located in prime locations which eliminates problems with accessibility.
• Buying a condo entitles the owner to use fitness and wellness amenities.
• Condominiums offer sufficient spaces that are not too big nor too small for empty nesters.

Check out the progress of CitiGlobal’s condominium in Tagaytay through this video.

ALSO READ: Red Flags You Should Not Miss When Buying a Home 

BOTTOMLINE

The transition to empty nesting down to your senior years comes with changes. One of the most important things that you should make at this life stage is to decide on where to live or spend the rest of your life. Real estate for seniors comes with certain considerations. Look into the factors that matter to you the most so you can work your way toward a happy and comfortable life.

CitiGlobal is one of the trusted real estate developers in the Philippines that offer leisure properties and master planned communities in various parts of the Philippines. If you are looking for a house and lot, a condominium in Tagaytay, Palawan, and other prime locations, our diverse portfolio presents the best options that could match your requirements.

Get in touch today to learn more about our real estate developments.