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Market geography

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Title: PowerPoint Presentation Author: Dave H. Last modified by: kshort Created Date: 4/26/2007 8:51:17 PM Document presentation format: On-screen Show (4:3) – PowerPoint PPT presentation

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Title: Market geography


1
2. 50 Communities and Properties
  • Market geography
  • Housing options
  • Promoting your market area

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

3
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 70s
    and 80s

4
Housing Options
  • Independent Living
  • Assisted Living
  • Continuing Care
  • Care Facilities

5
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

6
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

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

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

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

10
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

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

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

13
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

14
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

15
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

16
Continuing Care Retirement Communities
  • Increasing levels of care at one location 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

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

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

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

20
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

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

22
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

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

24
Promoting Your Market Area
  • Help buyers evaluate and balance the pros and
    cons

25
Checklist for Promoting Your Market Area
  • Medical
  • Market
  • Transportation
  • Community Activities
  • Fitness
  • Climate
  • Services
  • Senior and Aging Services
  • Property Features

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