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Top Retirement Trends in 2021

Story Highlights
  • Trend No.1 - Overall well-being
  • Trend No.2 - Opting for a 'Life Right' purchase model
  • Trend No.3 - Smart homes
  • Trend No.4 - Online consultations
  • Trend No.5 - Smart-sizing their lifestyles

Retirement is something that many people look forward to, especially if they are inching closer to their 60s.

The COVID-19 pandemic brought forward a lot of new trends and people are looking for other retirement options in terms of real estate.

They are becoming more conscious of their health and many are dependent on technology in their everyday lives. These factors contribute to the type of retirement home they want to live in to enjoy their golden years. More and more people are also opting for early retirement and their living space should reflect that.

Here are five retirement trends that we can expect in 2021:

Trend No.1 – Overall well-being

People have become very conscious about their overall well-being. They don’t focus only on their physical health but also their mental and emotional stability.

They want to retire somewhere where they can maintain their holistic approach to health. They are moving away from estates that provide typical old-age care and they are drawn to estates that offer a supportive and active lifestyle.

This means that they are looking for estates where they can participate in recreational activities, clubs, learning programs, and be part of support structures in the estate. 

Trend No.2 – Opting for a ‘Life Right’ purchase model

It is difficult for people to buy a retirement home under normal circumstances and the pandemic has made this financial strain even worse.

This is why more and more people are opting for a ‘Life Right‘ purchase model within an estate – this pretty much means that buyers can enjoy the unit and all its benefits for the rest of their lives at a discounted price. And when these buyers pass away, the developer retains the house and the deceased estate receives the full purchase price. There are no capital gains involved but retirees pay significantly less upon purchase. 

You could say it’s a housing product, an insurance policy, and a worry-free existence rolled into one!

Trend No.3 – Smart homes

The image of the technophobic retiree is long gone. Maybe your own granny might not be the quickest on her phone – she’s more of the exception, it seems!

Many older people had to learn how to use smartphones, tablets, and the internet during the pandemic. The use of technology is no longer limited to the young folk and many homeowners have already started implementing smart devices in their homes.

Retirees are on the prowl for retirement units that offer fibre internet services so that they have fast Wi-Fi access. They also value smart security systems that they can connect with by using their smart devices. 

Trend No.4 – Online consultations

We have learned in the past year that social distancing is very important and it is the best way to flatten the curve of the coronavirus statistics.

Generally speaking, elder people are especially vulnerable as the virus seems to have an even worse effect on them. So, it shouldn’t be a big surprise to see that retirees are turning to online consultations instead of in-person meetings.

They much rather prefer communicating with their doctors via video calls or instant messaging rather than taking the risk by going into a medical centre. This is a trend that is likely to continue and it is something that retirees are prioritising at the moment. 

Trend No.5 – Smart-sizing their lifestyles

We know that most retirees are interested in downsizing their homes but what they are also interested in is ‘smart-sizing’ their lifestyles.

This is based on the Marie Kondo method of simplifying your life so that it is free of everything that does not bring you joy.

Retirees want spaces that are simplified by design and that centres on their lifestyle. This means open-plan living, garden spaces, and less clutter in the house. 

During the lockdown, many people shifted their priorities. Retirees realised that they need to consider how their retirement home reflects their lifestyle and how they can best maintain it when moving from their family homes. 

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