For many home builders, the 55+ market is new, unchartered territory. According to research from John Burns Real Estate Consulting, 53% of those 55 to 65 years of age cannot find the kind of compelling and vital community they desire, leaving home builders plagued with one daunting question: what’s missing?
From decades of experience consulting with home builders in the 55+ space through The Ipsum Group, here are my top ten keys to success in 55+ active lifestyle communities.
1. Know your customer and claim your niche.
We all know the high-level stats on the boomers in the marketplace; they consist of 76+ million people who control more than 60% of the discretionary income in the United States. But, if you want to be successful in the 55+ active lifestyle space, you must also know the Who, What, and Why of “your” customer because most aren’t moving away to Florida or Arizona as is perhaps assumed. In fact, many think they will live in their older home until they die. You have got to get it right with a compelling, whole package that includes both lifestyle and home.
2. Give your customer a reason to move.
Life never stops changing, so give your customer a home designed for their stage of life and lifestyle. In many cases, their existing homes are too big, requiring endless time and money to maintain. They desire open, single-story floor plans with lots of windows, big backyard patios, ample storage, and opportunities to personalize what they’re considering to be their last home. I recently worked with Pardee Homes Inland Empire to plan and design its first 55+ community, Altis, in Beaumont, Calif. To address the needs and aspirations of its first 55+ consumers, Pardee Homes Inland Empire is building a brand new, better Design Studio to personalize individual homes, helping consumers create a perfect space.
3. Focus on what’s next.
55+ communities are about connection and engagement, while putting a major focus on what’s next. You don’t have to be retired to live like it. Your community is a place to thrive and a place to live the life you dream about—even if you are still working. Prior to its community opening, Altis already initiated group meetups with potential homeowners, one of which took place at a Temecula Valley gem, Leoness Cellars Winery. Another group met at GRE Coffeehouse and Art Gallery in Palm Springs for a cup of joe, then enjoyed an Architectural Bike Ride for the Modernism Week celebration of midcentury architecture, design, and culture. The latest meetup celebrated Earth Day with a Whitewater Preserve nature hike.
4. Location, location, location.
As with all real estate, location matters. Essential services, such as groceries, healthcare, and banks must be conveniently nearby. These days, it’s about walkable connectivity with access to entertainment, dining, outdoor adventure, transportation corridors, mass transportation, and airports, as well as close proximity to authentic and diverse urban settings. Your community should enjoy a strategic location to all these amenities, acting as the center of life.
5. Design that brings people together.
A community-centric design that brings people together is crucial in the 55+ space. Think thoughtful land planning with mixed-lot neighborhoods, connective and multi-use trail systems, open spaces, and a community hub. The Altis land plan situates the VuePointe community hub at the center of the community, with the Altis Paseo Trail system connecting the VuePointe to surrounding neighborhoods as well as to neighbors.
6. Amenities are critical.
Thoughtfully designed, consumer-centric amenities are critical to the success of 55+ communities. Tapping into experts in fitness, wellness, food, customer service, pool design, and more brings relevant, meaningful, and compelling amenities to residents. The pool complex at Altis, for instance, is perfectly situated to provide privacy to its residents. It is equipped with both sun and shade with a lap pool covered by innovative solar panel structures that provide shade to swimmers while simultaneously generating power to heat the pools. The resort-style pool lives up to its name with swim-up cabanas, beach-style entry, and an elevated hydrotherapy pool big enough for a party with a bunch of new friends.
7. Total cost of ownership is important.
With more than 70% of boomers being homeowners, many will be investing equity from their current residence into this home and the perfect premium home site. They may apply their equity towards upgraded flooring, appliances, and more while still being able to throw the rest in the bank for peace of mind. But, fair warning, monthly costs relating to HOA fees, property taxes, and utilities could squash the deal for some.
8. Make being well easy.
Maintaining wellness is an insurance policy these days. Boomers see themselves living to 100+ and realize that quality of life largely depends on being well. Boomers want to feel good, look good, and do good. Amenities, programming, and marketing should respond to this consumer value and speak to this buying motivation. The Wellness Suite at Altis is a multi-purpose and private room where services from massages to physical therapy to aesthetician services can be performed. Easy access to these wellness services can speak volumes.
9. It’s all about the grandkids.
Family is everything. Boomers want to be a meaningful part of their grandchildren’s lives. An emphasis is placed on amenities and programming that prompt their grandchildren to want to spend time with their grandparents. Neighborhood parks bring families together with outdoor kitchens and lots of green grass, and bike paths or trail loops ensure that a fun day with Grandma and Grandpa in the park is just a hike or bike ride away.
10. Hire a lifestyle facilitator.
A lifestyle facilitator is a must, serving as the most connected person in town. Energetic, compassionate, and a great listener, the lifestyle facilitator is ready to help boomers looking to live their best life and do what they want to do. Future residents have big plans for a life well lived; the lifestyle facilitator should provide unprecedented access to experiences, experts, and other residents that share similar interests. Boomers have been around the block a few times and they know what they want. Building a successful 55+ community means embracing both the house and the community that they will experience every day. Modern designs and innovative approaches to amenities need to be unique and reflect the fresh, younger boomer buyer of today, leaving the question of what’s missing a distant memory.
