This article was written by Natalka Falcomer, VP Corporate Development, Chestnut Park Real Estate Limited, Brokerage

 

 

Warning: reading this may encourage early retirement. If luxury retirement sounds appealing to you, the following information will be very useful.

 

“Even with the largest increase in supply this year, the vacancy rate trended lower as demand outpaced supply. The accelerating growth in the older population and the increasing acceptance of seniors housing living, especially among seniors aged 85 and older, continued to drive demand for seniors housing.” — Penny Wu, Senior Market Analyst, Ontario, Canada Mortgage and Housing Corporation

 

Vacancy rates for seniors’ residences has steadily declined since last year to a record low of 9.9%. This drop from 10.3% in 2017 occurred despite an increase in spaces for senior housing. The reason for the impeding “seniors’ housing vacancy crisis” is simple: the baby boomers are getting older and many require a variety of in-home care – from preparing meals to physical assistance – that simply isn’t offered as part of your condo element fee.    

 

While some find Ontario’s rates unaffordable (unfortunately, no subsidies are available for private assisted living facilities apart from subsidies for certain CPP recipients and retirees with long-term disabilities) with an average rent for a bachelor in Ontario being $3,037, these costs are meager in comparison to the most luxurious retirement communities in the world.

 

 

Isleworth, Florida 

Imagine 6,000-acres of lush greenery sprawling across several miles of shoreline. Now, imagine a golf course that would encourage anyone to take an early retirement. This retirement community boasts an 82,000 square foot golf course and a clubhouse designed by the famous golfer, Arnold Palmer. If golf isn’t “your thing”, then spend your days at the luxurious spa or well-equipped wellness centre. Alternatively, hang out with your grandkids at the expansive children’s playground. For a measly $8 million (USD), you can enjoy all of this, as well as services like party planning, home cleaning and a concierge that anticipates all of your needs. 

 

 

 

Kiawah Island, South Carolina

If tennis is a sport you intend to take up in retirement, then Kiawah Island in South Carolina is the retirement home for you. With one of the most highly-regarded tennis programs among retirement homes, the property features 23 Har-Tru courts and the three hard courts. Residents get access to an exclusive oceanfront clubhouse, three swimming pools, extravagant fitness and spa facilities, as well as countless bars, cafes, shops and restaurants catering to all tastes. Lot prices range between $300,000 (USD) to more than $5 million (USD), while homes start at $700,000 (USD) and can cost you up to $10 million (USD).

 

Atria Rye Brook, New York 

If pristine landscaped gardens and a full range of daily activities in a bustling city is more your style than remote communities, then look no further. Artia Rye Brook appeals to fashionable who want access to onsite hair stylists and access to some of the city’s most exclusive events via the home’s first-class concierge service. Access to these spacious and luxurious private suites and Michelin star-level restaurants starts at $5,850 (USD) a month.

The Ritz-Carlton Residences at Vail, Colorado

Looking for a hotel-like lifestyle with bell service and North America’s leading ski resort? Then fork up a couple million USD for a spot at the Ritz-Carlton Residences at Vail. This complex offers penthouses ranging between $2 million and $8 million, as well as endless shopping, fine dining and entertainment opportunities. Take a dip into the year-round pool or hot tub, sit by the fire pit or go to the spa or fitness center. Whatever you choose to do, it will be luxurious.

 

The Yacht

Adventurous? Staying static doesn’t seem ideal? Then The World is where you should retire – a 644 foot private luxurious yacht that offers the most exclusive lifestyle possible. From “white glove” service to impeccable cuisine and curated experiences both on and off board, The World has it all.  Owners of this floating retirement home get to wake up in a new exotic destination, experience adventures organized by the world’s leading scientists, archeologists and historians and then “retire” to spacious rooms. If history doesn’t appeal to you, then stay onboard and practice your swing during a private golf lesson or stay fit at the expansive fitness centre.

 

The Founders Residences

After years of sacrifice and hard work, it’s hard to argue against a splurge in retirement. Fortunately, Ontario developers are taking note that Canadians, like their American counterparts, also want to retire in style. The Founders Residences is one example of retiring in luxury. This residence is located in Ottawa’s desirable Westboro neighbourhood and boasts a la carte services such as meal preparation, cleaning services and fitness and health management. With sleek and sophisticated furnishings, swimming pools and terraces, Ontarians don’t need to fly south to enjoy their retirement.

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