Retirement Homes Get the Luxe Treatment


Some retirees say they don’t want to skimp on luxury features when it comes to choosing a home for their Golden Years. In fact, they want the most upgraded home of their life.

“Because this is it. This is the last house you’re going to have. You gotta get what you want,” says Sharon Kay Brown, who moved into an active adult community with her husband in Broomfield, Colo., less than a year ago.

Active adult communities are increasing in demand in recent years, according to the National Association of Home Builders. The homes are getting more luxurious touches, everything from gourmet kitchens, luxury bathrooms with pedestal tubs, grandchildren suites, and exercise rooms where the walls lift automatically. Toll Brothers is offering hundreds of such potential upgrades to a luxury retirement community it is building in Aurora, Colo.

“They don’t want to simplify, necessarily, they want to right-size,” Mark Bailey, division president for Toll Brothers’ active adult communities, told CNBC. “A lot of them are coming from 3,000- and 4,000-square-foot family houses, and they’re downsizing in square footage, but they still want the luxury, they still want the house to live big, fit their needs.”

The prices in these communities are stretching up to $1.2 million in some cases.

The social interaction and amenities are some of the draw to these high-end retirement communities too. The community often offer clubhouses, fitness centers, pools, classes, and lectures. Toll Brothers dubs them “lifestyle amenities.”

“It’s the social aspect of knowing your neighbors, walking down the street with a glass of wine at 5 o’clock and saying hi and talking to people that maybe were in your tennis group that morning,” Bailey told CNBC.

Source: NAR – Real Estate News
Retirement Homes Get the Luxe Treatment

Photo Credit: Ryan Schreiber via Flickr