2 50 Communities and Properties Market geography

2. 50+ Communities and Properties § Market geography § Housing options § Promoting your market area 2 -1

Market Geography 2000 Census showed majority (84%) of Canadians aged 65 and older lived in one of four provinces: § Ontario § Quebec § British Columbia § Alberta 2 -2

Market Geography § Title of "Senior Capital" is shared by Victoria, B. C. and St. Catherines. Niagara area. § Most seniors live in urban areas. § Most seniors stay in their own homes to their 70 s and 80 s 2 -3

Housing Options § Independent Living § Assisted Living § Continuing Care § Care Facilities 2 -4

Aging in Place § Remaining in the current residence § Aging in the community in a different residence § Relocating for the last time to a community that provides a range of options 2 -5

Preparing to Age in Place § Ability to perform activities of daily living (ADLs) is key: §Eating §Dressing §Getting into or out of a bed or chair §Taking a bath or shower §Using the toilet § Facility should be a match for faculties and abilities 2 -6

Active-Adult Communities § Active-adult communities offer a range of services, social events, amenities, and activities to attract and serve residents. 2 -7

Active-Adult Housing Options § Single-family homes § Attached homes, duplexes, townhomes § Condominiums § Manufactured and mobile homes § Cluster housing § Subdivisions § “Try-before-you-buy” option 2 -8

Seniors-Only Apartments § Apartments are small and easy to maintain § Seniors can socialize with comfort, safety, and security § No medial or custodial care provided 2 -9

Garden Suites § Second living units installed on a temporary basis and are built so they can be easily moved § Typically occupied by individuals 65 years or older § Construction subject to National Building Code of Canada requirements 2 - 10

Shared Housing § Sharing a home with a roommate § Strategy for aging in place § Organizations help with match up 2 - 11

Independent Supportive Living § Private apartments § Independent living with privacy, supervision 24/7 § Common social areas and communal meals § No medical care 2 - 12

Senior Day Care § Fills in the gap when the caregiver must work during the day or needs a respite § Offers supervision, often a noon meal, social and education activities, and support groups 2 - 13

Short-Term Stays § May be offered by independent supportive, assisted living, and continuing care retirement communities § Can provide vacations and care giver respite § Try out as a possibility 2 - 14

Assisted Living § Intermediate step between independent living and care facilities § Assistance with daily activities § For those who cannot live on their own, are ambulatory, but do not need nursing care 2 - 15

Continuing Care Retirement Communities of care at one location § Increasing levels as residents’ needs change § Provides security of being taken care of through stages of aging § Residents can maintain friendships § Large buy-in fee, annuity purchase, monthly fees § Not for the budget conscious 2 - 16

Board and Care § Simple small assisted living facilities § Personal and custodial care § Converted private homes, unofficial § 4 to 10 residents 2 - 17

Nursing Homes § Personal care and medical care around the clock § Short-term residents who are recovering § Long-term residents who cannot care for themselves 2 - 18

Respite Care § Allows caretakers occasional time off to recoup emotionally, handle other family responsibilities § Alternative is short-term stay in an assisted-living facility 2 - 19

Alzheimer's Care Facilities § Specialize in care of patients with dementia § Caring for patient at home means families need to think about: • Security and safety of environment • Day care facility availability • Interaction and recreation opportunities 2 - 20

Second Homes, Future Retirement? § Use of the property may change as owners progress through life stages 2 - 21

Converting Rental to Retirement § Use rental income to offset as much of mortgage and expense § Sell primary home and refurbish rental home § Sell both homes and purchase new home 2 - 22

Typical Second Home Buyer § What picture do the data present? § How does it compare to the buyers you encounter most frequently in your market? 2 - 23

Promoting Your Market Area § Help buyers evaluate and balance the pros and cons 2 - 24

Checklist for Promoting Your Market Area § Medical § Market § Transportation § Community & Activities § Fitness § Climate § Services § Senior and Aging Services § Property Features 2 - 25

Cost of Living § Most important factor in choosing retirement location § Be prepared with information on cost of living factors 2 - 26