As the Baby Boomer generation ages, the need for senior-friendly housing is on the rise. Josh Crabb of CTV Edmonton reported that currently seniors make up about 15% of Canadian population. By 2036 this number is expected to skyrocket to nearly 24% (CMHC, “2011 Canadian Housing Observer”). It’s been noted that a large portion of seniors prefer giving up their family homes in favor of condo living for its convenience, but much consideration and weighting of pros and cons should be done before opting in for a condo lifestyle.
Condo living is attractive to seniors due to perceived convenience and ease of maintenance. In fact, many seniors choose to sell family homes and relocate to condos before they reach the age, when such a move becomes very difficult. Despite a wide variety of retirement homes, NDIS Service facilities and other times of senior housing readily available across all Canadian provinces, independent condo living is something a staggering number of seniors opt in for.
The CMHC report says that condominium projects accounted for one-third of housing start-ups in Canadian cities in 2010 and that’s up from 29 percent in 2009. It’s been predicted that the rapidly aging population will translate into a growing demand for smaller homes.
The CMHC report further estimates that as the population ages across the country, its needs are changing, thus even smaller communities will need proper facilities to accommodate seniors with disabilities and other medical conditions.
While both large cities and smaller towns hold appeal for … Read More