Living the rest of your life in a log cabin or a cottage in the middle of a forest or a huge farm is a good setting for novels and movies. But in real life, you need to stay close to the people you love and maintain an active lifestyle after you retire. It’s less romantic but more realistic.
Condo owners and landlords working to expand their market to include retirees and expatriates should capitalize on this truth. Leasing a condo surely satisfies the new considerations of expats and retirees. The older the people get, the more they want to be closer to their families, live healthy lifestyles, be more social, and meet new friends.
There are a lot of Philippine cities that are great for retirees and expatriates. Metro Manila, Clark, Olongapo, Cebu, and Baguio are among the top retirement destinations in the country. The cost of living is very affordable and the locals are among the warmest and friendliest in the world. It is no surprise that despite being a third-world country, the Philippines ranked 17th in the list of the world’s best places to retire according to International Living Magazine’s Annual Global Retirement Index for 2016. The country scored highest in terms of making retirees and expats feel comfortable.
But aside from the affordable cost of living, what are retirees and expats looking for that landlords should take note of? Retirement in the Philippines has a lot to offer. You can live by the beach or the mountains. You can choose to retire in rural communities or coastal towns. However, condo rentals for expats present a different set of benefits and opportunities.
Here are what retirees and expats today consider in finding the perfect place to spend the rest of their lives.
Value of community
The good thing about condos in the Philippines is the fact that condos aren’t just buildings but communities. Retirees and expats will be greeted with hellos and small talks while walking down the hallway or inside elevators. Various condo activities such as Halloween parties and Christmas get-togethers will also make them feel like they are a part of a truly inclusive community.
Closer to home
According to the United States of Aging Survey, seniors value social connections over financial security. The survey found that 53% said being close to friends and family is important. This holds true for most cultures.
Local retirees understand the value of family in the Filipino culture. Not that they can’t let go, but it would also not hurt if they live close to the people they love. With most of their children probably working and living in the Metropolitan area, retirees may want to live close. Retired foreign expats who have established friendships in the urban cities may also find renting a viable option.
Morning walks for a healthy life
Retirees lived at a time when open spaces are generous to accommodate kids playing and older people leisurely walking in the morning. Never think that condos are just cramped spaces. Major condos in the Philippines are now investing on more open spaces so residents can come home to a resort-inspired community.
Retirees looking for a place where they can still have their morning walks should not count condos communities out. A London research found that high-impact or brisk walking is the best exercise of all. It is the best way to keep weight down, prevent heart diseases, and prolong life. And yes, retirees and expats should definitely consider open spaces for walks and jogging when looking for a condo to rent.
A place for active lifestyle
Among the reasons why retirees rent a condo is because of the facilities that help them maintain an active lifestyle. Condos have sports centers and gyms to keep them busy, active, and healthy. There are even lessons and classes offered to seniors. All these privileges are just outside their doorstep and are often free of charge.
Going up or going down?
Walking is great for most retirees. But climbing up and down a flight of stairs isn’t. Some retirees have really weak knees, and climbing up and down the stairs is not advisable. While some could handle a few steps, others could end up injuring themselves. Elevators in condos are helpful. Retirees can go up and down the building as much as they’d like and would not have to worry about the physical obstacles along the way.
A health partner
Retirees and expats need to keep their health checked regularly. One of the advantages of leasing a condo is that hospitals and medical institutions can’t be too far way. In case of emergencies, it will be easier to get a patient the medical attention he needs.
A social hub
Retiring does not mean living in recluse. Expats and retirees want a place where they can spend their pensioned days with as much fun as possible. The best Philippine cities for retirement are at the center of the hippest and biggest party and social hubs. There are bars, restaurants, and coffee shops everywhere to suit every mood.
Leisure at your doorstep
Retirees and expats want to have fun. Among the reasons why retirees rent a condo is because of all the amenities they can enjoy, such as the swimming pool, entertainment centers, and playgrounds for their grandchildren. Retirees will always have something to do in condos.
Security is a priority
Retirees have seen the ways of the world, its cruelties and dangers included. As they retire, they surely don’t want any more of it. Condo leasing is popular among this group precisely because security is extremely important. Condos provide surveillance cameras, round-the-clock roving guards, a reliable security system, secured entry and exit points, and follow strict guidelines in letting visitors in.
Big C for Convenience
A convenience store in the ground floor, a transport terminal a few blocks away, and several amenities for a healthy and active lifestyle are just some of the conveniences of living in a condo. Everything that ever mattered is just outside your doorstep. Need something repaired? You just need to make a phone call. Need someone to wash your clothes? Laundry services are also just a call away. Retirees want a comfortable and hassle-free life, and condos can very well give them just that.
Easy to get around
Living in a condo means living in a place of progress and opportunities. If a retiree wants to watch a movie, there is no need to endure hours of traffic just to get to a mall. Establishments such as malls are just a few kilometers away, and in some cases are on a walking distance. Restaurants, cafes, and supermarkets are also easily accessible either through public or private transport.
A place of peace and quiet
Noise and distraction do not necessarily follow urban living. A lot of developments such as the projects of DMCI Homes offer a garden or resort-type of living. Condos can be like a haven in the middle of the urban jungle. Condo neighbors also value everyone’s privacy and you can be sure you can come home to a place that is peaceful and quiet.
Desire to remain connected
Retirees desire to be connected, too. Condos often offer free Wi-Fi connection for the convenience of its residents. Almost all establishments near condos such as cafés and spas are also wired, making connecting to loved ones easier.
Easy to maintain
Condos are easier to maintain. Downsizing to a living space that is more appropriate to current needs is helpful, according to Andrew Carle of the George Mason University’s Senior Housing Administration. Once children have moved out of the house, what do you need three rooms and a basement for? Condos are easier to clean and maintain. A space that is just right is cozier. A bigger place only for yourself might feel more empty.
Renting is practical
Probably the best way to entice retirees and expats to rent a condo is the high cost of owning a property in the Philippines. Leasing a condo gives them a level of flexibility. Condo rentals for expats and retirees are attractive because this allows them to experience new locations and lifestyles without the burden of a long-term commitment.
Expats and retirees are more empowered and they certainly know what they need. They also know that they deserve. So give them more. Know what they want and need, and show them how condo living can deliver and spell out the difference.