Developers take note: Seniors want office space

Space for home offices is becoming a prime consideration among senior citizens as more of them keep working after they officially retire.

"Statistics show that only about 10% of people retiring at age 65 have made adequate provision for their golden years and that about a third keep working to supplement their income," says Berry Everitt, MD of the Chas Everitt International property group.

"Swelling the numbers of working retirees are professional people who increasingly choose to keep working and consulting to maintain an active interest in their fields.

"Consequently, many retirees are now altering family homes to accommodate fully-fledged home offices, while others are choosing which gated community to move to on the basis of whether the homes have office space or not. "

Writing in the Property Signposts newsletter, he says that until now, developers aiming to attract retirees have concentrated on security, low maintenance and pretty locations.

"Retirees who want to keep working, however, are starting to insist on units that include a home office, properly planned and wired, even if it means sacrificing some other space."

And as a departure from the previously preferred scenic locations in the country or at the sea, they are showing a preference for developments that are close to major employment hubs, says Everitt.

In addition, they are increasingly seeking out "active adult" communities where their neighbours are also still working at least part of the time, as these allow more opportunities for satisfactory social interaction.

Issued by Chas Everitt International

Loading comments
More news articles
news
Guidelines to securing a home loan
29 May 2018
Many young South Africans are working hard to achieve their dream of purchasing their first home. However, the process can be challenging due to the daunting application process, which can take up to 2 years and is often enough to discourage prospective buyers.
read more
news
Things you should consider before upgrading to a new home
23 Apr 2018
The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
read more