R
etirees and those nearing retirement are driving the housing market, with a median age of repeat homebuyers now 61, up from 36 in 1981. As they age, their priorities shift from keeping up appearances to practicality.

    "We start looking at things from a different perspective – a wiser set of eyes," says Paul Dashevsky, co-founder of GreatBuildz. Retirees want to maximize their equity by investing in low-maintenance properties that allow them to age in place.

    We spoke with builders, real estate agents, and senior care specialists to learn what retirees are looking for in their next home. Here's what we found:

    Retirees prioritize low-maintenance properties in great communities. They're willing to downsize from larger homes to single-story or low-maintenance properties, says Karen Holt, global real estate advisor at Premier Sotheby’s International Realty.

    Downsizing allows retirees to make the most of their home sale proceeds and create a financial cushion for retirement expenses, travel, healthcare, or hobbies. Aging-in-place features are also crucial, using universal design elements to enhance safety, accessibility, and comfort.

    Homeowners of all ages are incorporating adaptive living modifications such as curbless showers, smart lighting systems, and sleek grab bars that complement the home's aesthetics. These modifications will soon become standard practice, blending safety with contemporary style.

    Retirees want durable materials that require little upkeep, energy-efficient appliances, and low-maintenance features like stain-resistant carpeting and non-porous countertops. They prioritize communities with proximity to recreational activities, family, and services.

    Neighborhoods with community centers offering recreational options like pickleball courts, swimming pools, and art classes are highly attractive, says Holt. Sidewalks for walking and nearby places of worship further enhance the sense of community and accessibility.

    Retirees want ways to enrich their free time, not waste it. They prioritize communities that foster social connections and an active lifestyle, essential for retirees' physical and mental well-being. Communities designed with convenience in mind can significantly improve retirees' quality of life by promoting independence and social engagement.

    When searching for a retirement home, consider your personal needs, finances, and lifestyle goals. Assess your budget and define your priorities – location, accessibility, or community features. Partner with an experienced real estate agent who understands your situation and can streamline your search.

    If selling your home to retirees, emphasize the practical benefits of the property, such as proximity to healthcare services, grocery stores, and recreational facilities. Highlight local amenities like walking trails, places of worship, and social clubs to make the property more enticing.