Downsizing to Luxury Apartments

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Although the oldest baby boomers are turning seventy, many of the post war babies are many decades from needing any type of age assistance care and too young and vibrant to go to a retirement village. Many people are starting to downsize from their large family homes to something smaller like luxury apartments in exclusive neighborhoods. If you are thinking about downsizing to a luxury apartment, then you might want to consider several things first.

Your neighbors

There are some luxury apartments that are suitable for all ages while there are other community apartments that are geared towards downsizing empty nesters and baby boomers. It is very important for most retirees to have a community that they are close to amenities and leisurely activities than they ever had before. When choosing a community you really should think about who are going to be your neighbors.

Location, location, location!

Experts stress the importance of older people downsizing to a luxury apartment to think carefully beforehand. You should always make sure that you have the best location, so later if you decide to sell, then the value will go up and you won’t lose your money. If you are thinking about a small, charming apartment, then this is a good decision, because these type of apartments comes with many benefits. If you looking for a luxury apartment that has extra features such as a gym, pool, and other amenities, then remember that these extra amenities will cost you more money in maintenance fees but make it more desirable if and when you come to sell.

Facilities in Luxury Apartments

There are a few luxury amenities that people want to have when they are downsizing. People that are fifty five and over want a pool, because people are more concerned about being healthy at this age. People want concierge services, a gym on the premises, shops that are on level ground, easy parking, and cafes and restaurants that are close by. Baby boomers are looking for a new or renovated luxury apartments with exclusive amenities.

Facing Vulnerabilities

As we all get older we start to realize that we need convenience and we can easily recognize our vulnerabilities. We need a luxury apartment on the ground floor that comes with a nice view and if we choose downsizing to a high rise luxury apartment, then we need it to have an elevator, so we can get to our apartment with ease.

    Questions to Consider when downsizing:

  • How are the maintenance fees budgeted or how will you manage the maintenance of your luxury property?
  • Are there non-slip surfaces provided in the apartment? If there are how much of the apartment has the non-slip surfaces provided?
  • Is the apartment complex accommodating for walking aids?
  • Are the cabinets easy to access?
  • What type of lighting is available?
  • What is the bathroom décor like? Is it easy to bathe or shower for older people?
  • Can the bathroom accommodate a wheelchair?
  • Does the apartment come with high-tech benefits, and are these easy to understand and operate? The high-tech benefits can include security coverage, lighting by remote control, and programmable shades and drapes.
  • Are there any dining rooms and social rooms on the property? Can I use these areas for private entertaining?
  • Am I able to bring my beloved pet? What rules do I need to follow for my pet?
  • Can I look over the real estate developer’s past or other current properties? Also, can I speak to current residents of the apartment complex?

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