Property Investment Tips: Have you considered the growing retiree market?

By the resi financial blog team, 22 December 2014

Property Investment Tips: Have you considered the growing retiree market?

Australia's population is beginning to age. A recent Australian Bureau of Statistics report found that life expectancies for both men and women across the country were now over the 80 year mark, joining the exclusive ranks of Japan, Switzerland and Iceland where both genders are over this threshold. 

An often glossed-over market for investors to consider is the elderly and retiree market; that is, providing properties suited towards retirement and lifestyle, rather than the practicalities of raising a family.

Everyone knows what's needed for a family home to sell - proximity to local amenities, a nice neighbourhood and a number of good schools in the area. 

But have you ever considered building a portfolio for elderly Australians approaching retirement age who are looking to reap the rewards of a life of work? Here are some of the common things to consider when it comes to emerging into the retiree market. 

Future​-proofed properties

Without being presumptuous, understanding that as life goes on and what people need from their homes can change. This is something to take to heart when looking into properties that could be appropriate for a retiree market. 

In this respect, apartments can be a great option to consider, with many of these developments having elevators that can reduce the strain of navigating flight after flight of stairs to get home. Furthermore, carpeted floors could be a more appropriate option over smoother surfaces with more risk of slipping and sliding. Textured tiles in the bathroom and kitchen could also be something worth considering. 

Access to amenities

As a retiree, spending your time relaxing and enjoying life is often the name of the game. So purchasing properties with easy access to a number of enjoyable amenities in the local community could be a great thing to consider. 

Places nearby to local parks, cafes, restaurants and other locations like this could help to reduce the amount of time spent travelling - making them a more desirable property for retirement than others found further abroad. 

Some apartment buildings also offer facilities like saunas, swimming pools and gyms that can help people keep active during their retired years, without the expense of paying for a gym membership. 

Proximity to public transport

Being able to quickly and easily access public transport is an important factor for investors to consider, whether for retirees or general investment. By providing retirees with the option of nearby public transport, this gives the option of being able to get out and about without the worry of parking, congestion of dealing with other drivers. 

These are just some of the things to consider when investigating your own investment property options before committing to beginning or expanding your portfolio. Get in touch with a resi loan specialist today to begin investigating the most suitable mortgage product for your needs. 

Categories: Home Loans, Property Investment