Quote:
Originally Posted by CliffFletcher
Seniors and empty nesters are the natural market for suburban condos. I live in an older suburb and there are a bunch of adult-only complexes in the community. A lot of older people like the suburbs for their quiet, familiarity, and perceived safety, but they reach a point where they need less space and they don’t want to deal with shovelling and yardwork anymore. A condo suits their needs, but the appeal of Bankview or Bridgeland would be lost on them.
A new condo and professional building complex was planned for the Oakridge co-op, clearly marketed at seniors in the area, and there was a lot of buzz about it. But the development seems to have been delayed or put on hold.
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We've been going through the "buying a seniors condo" in the suburbs process for my father in law recently. I think covid had frozen that market, but its open again.
I've been following sales in the building he is buying in, and units that had been on the market for months have started selling. And the prices are escalating weekly as inventory goes down and more units sell.