In the last few years, the focus of many players in real estate India has shifted to the younger population, considering that the country's current workforce majorly comprises millennials. The result is new residential projects offering modern amenities that cater to this segment's needs - from gymnasiums and swimming pools to squash courts and beyond. However, leading developers strive to develop family-friendly properties that are suitable for residents of all ages. This includes being thoughtful about the special requirements of senior citizens without losing the project's contemporary appeal.

If you are a senior citizen looking for a new home post-retirement, keep this blog handy. The following real estate property tips for seniors will surely be useful to you in your house-hunting journey:

What Factors Should Senior Citizens Consider While Buying Real Estate in India?

• Accessibility Features:

  A residential building's architecture must incorporate essential elements that make the daily living experiences of senior residents more comfortable. For instance, high-speed elevators are a must-have for any high-rise real estate property these days,but they are especially critical for older people who often struggle to climb stairs, even if they live on the lower floors. Other important features, such as wheelchair ramps, support railings/handles, skid-free floor tiles, etc., must be provided wherever necessary. There should also be an electricity backup facility for the common areas, like lifts and passages, in case of power failure for the safety of older residents.

• Easy-to-Maintain Apartments:

  Compact housing options in real estate India , such as 1 or 2 BHK flats , are usually sufficient for them. Furthermore, an apartment layout allowing optimal usage of space is more beneficial to them than superficial aesthetics. They must look for smaller spaces with minimal designs and high functionality for easy maintenance

• Recreational Spaces:

  Recreational activities help senior citizens stay occupied in their retirement years. Therefore, they must look for a real estate property with amenities like a garden, clubhouse, indoor play areas, etc. Such residential complexes may also organise cultural and festive events which older adults particularly enjoy.

• Safe and Peaceful Locality:

  Senior citizens must opt for family-friendly residential areas while buying a new home. Check if the neighbourhood has public CCTV cameras and local police stations for your safety. The locality should also be serene and peaceful for a relaxed lifestyle. One must be cautious about these factors before finalising a real estate India micro-market.

• Sustainable & Smart Homes:

  Sustainable construction is the hallmark of the best real estate in India . An eco-friendly flat with energy-efficient designs can ensure the holistic well-being of senior citizens. Homes that receive plenty of natural light and fresh air keep inhabitants in good spirits and optimal health. Apart from this, apartments equipped with smart home technologies can be highly convenient for older residents. Through touch or voice commands, these features help reduce manual effort in performing various daily tasks, such as adjusting the lighting and AC temperature, making phone calls, and more. It can prove to be a saviour during emergencies.

• Green Spaces & Walkable Areas:

  Older citizens must have easy access to open green spaces like parks and gardens for their daily wellness needs. They must pick a real estate property that offers lush green gardens with dedicated walking paths, benches, and shaded areas like pergolas/gazebos where they can socialise with fellow residents of their age group. It will ensure they don’t have to travel far off to access such recreational facilities.

• On-Premise Security:

  Gated communities are perfect for elderly residents since these residential complexes have tight security provisions on and around the premises. They have security personnel on duty 24 hours a day and CCTV surveillance in all the common areas to keep a tab on who accesses the property and when. Video door phones and intercom connections are also essential security features. Trusted real estate India developers aim to make their properties safe for one and all with such facilities.

• Proximity to Healthcare Facilities:

  The area senior citizens live in should have a sound social infrastructure with all essential facilities present near their homes. These include reliable clinics, hospitals, and pharmacies for their healthcare needs and medical emergencies. You can also check if there are doctors who can make home visits to your real estate property if need be. Also, ensure that the pharmacy stores, grocery shops, and supermarkets provide home delivery services to your location. It is essential when you cannot step out to run your daily errands.

• Connectivity and Public Transport Network:

  Whether senior residents have their own vehicle or require public transport for travel, the residential area where they buy real estate in India must have good connectivity and transportation options. Choose projects in well-connected locations. Also, check the area's proximity to the metro or local railway stations and the availability of taxis, autorickshaws, buses, etc.

• Budget and Expenses:

  Most senior citizens rely on their life savings and pension earnings after retirement. Therefore, affordability is a crucial factor to consider while buying a new home. Most financial institutions/banks offer home loans to buyers up to the age of 70. Some may even provide an extended loan tenure up to the age of 75. Before finalising any real estate property , you must consider your budget and loan repayment capabilities. Make sure that you keep enough savings aside as an emergency fund. Also, check your ability to pay your EMIs on time and manage property maintenance fees, taxes, utility bills, household expenditures, etc.

Conclusion

While the above factors are significant, the developer you choose is the biggest factor that can make or break your home-buying decision. Senior citizens must work with well-established names in real estate India to find the best home to spend their retirement years. K Raheja Realty is a reputed property developer with residential properties in Mumbai and Pune . Contact us today for more details about our family-friendly projects!

Disclaimer

The content of this blog is based on information available to the public for general use, and any references/sources if mentioned. While we take care to refer to reliable sources as far as possible, we do not claim any responsibility for the accuracy of the given information whatsoever. The article is to be used for general informational purposes only. Please note that it neither constitutes legal advice nor does it intend to. If any individual(s) take/s any decision based on the information in this article without verifying the genuineness of the facts, we expressly disown/disclaim any potential liability that may result due to the same. We encourage readers to get guidance separately pertaining to any specific information given herein.