Retirees shun condos, apartments for single-family homes
Sep 7, 2015, 8:18 AM | Updated: Mar 4, 2016, 5:46 am
Eighty-three percent of subscribers to a recent Where to Retire magazine survey say they would most likely choose a single-family home in retirement.
However, as they seek to preserve their autonomy, many of those prospective retirees want to live in areas that offer the benefits of communal living. Seventy percent of respondents say they are most interested in a master-planned community.
“Many opt to live in an active-adult master-planned community-a concept made popular by Del Webb in the 1960s and still thriving today,” said Annette Fuller, Where to Retire editor. “It gives retirees the opportunity to take advantage of all the benefits of single-family home living while enjoying the camaraderie of peers as well as amenities and activities geared toward them.”
The study, conducted by Readex Research in June 2015, also found that 62 percent of the magazine’s subscribers are planning on buying, rather than renting, and that potential buyers plan to spend an average of $263,000.
