Retirement Your Way - Co-Housing Might Be Your Answer

For millions of baby boomers, adult communities and 55+ communities are a great retirement option. For these retirees, having everything pre-packaged; from recreation to housing and even to even friends; has a lot of appeal. But for many other boomers, the active adult community is anathema.

But before you give up on the idea of communal living, know that there are many different ways to have it your way. The cooperative senior housing movement has different names and concepts, including: co-housing, Naturally Occurring Retirement Communities (NORCs), and aging in place. They all share the same common ideal –finding a way to keep people living in their own homes longer - but in a way that promotes health, safety, and a rich social life. Let’s look at each movement.

Co-housing (cohousing) takes many forms but usually combines independent living with the sharing of some communal facilities. The movement started in the 1960’s in Denmark. Most are located in rural areas. One of the most famous, Silver Sage in Boulder Colorado, features single family homes with a large common area where residents gather to eat, recreate, do yoga, and just plain hang together. Trails and other recreation are available. The community is located adjacent to a mixed generation community so residents do not feel separated from people of other ages. The residents are committed to supporting one another in their retirements and as they age. They also support sustainability and great architecture. In Brooklyn New York another group, Brooklyn Cohousing LLC, has been formed to find an urban solution to co-housing. As yet the group has not found a site, but it does have several possibilities and a number of active members committed to the project.

Naturally occurring retirement communities (NORCs) occur in some parts of the country where many of the residents, for one reason or another, happen to be of retirement age. In some of them, most notably Beacon Hill Village in Boston, a formal organization has been created to promote a cooperative approach to aging in place. Members pay an annual fee to be part of Beacon Hill Village and get many services in exchange. They can also barter for services (shopping, driving, eldercare, cooking, home repairs, etc.). The idea is to let people keep living where they have for years and years by giving them the tools to live well and happily. Similar ventures are in place or planned in a number of other communities. NORCs are a great example of aging in place strategies in action.

Another good example of a cooperative approach to retirement living was profiled in the February 1 NY Times, “My Sister’s Keeper“. The article explores the world of about 20 women who have built a lesbian only community in rural Alabama called Alapine. The women enjoy a communal lifestyle in their gated community and get together frequently for pot-luck dinners, poetry reading, etc. There are other lesbian communities like Alapine elsewhere in the country. The idea could be and is applied to other groups of like-minded people who choose to live among their own kind in a world of their own creation.

Start your own co-op community
Beacon Hill Village and the co-housing movement are eager for other communities to take up their approaches to retirement. You can buy workbooks and talk with their members for advice. Let’s say you have a core of friends or acquaintances in your area. It would take a lot of organization, skill, and energy, but you could buy a distressed property and develop it with your friends. If you plan well and choose your members carefully, you could end up with your own active adult community – one that fits your lifestyle on your terms – and that gives you all the perks and benefits you need for the rest of your life. For example as you age you could hire eldercare and medical assistance and use these services cooperatively. To us the cooperative approach has a lot of appeal. The major advantage is that you get to live with friends or relatives you like, instead of being stuck with strangers. You also get to live where you want to for the rest of your life. Plus, you win that extra special baby boomer benefit – you get to have it your way!

Top 10 Trends for Active Adult Communities in 2009

With a fresh avalanche of baby boomers sliding into senior-hood every day, there is a lot of interest in 55+ housing trends. This article provides the Topretirements list of the top 10 active adult community trends for 2009. (We did the same exercise for 2008. There are many similarities on both lists, but also some new ideas).

The ultimate trend for 2009 – and the great unknown – is will the real estate market, after the bashing it took in 2008, come back to some type of equilibrium? We say it’s hard to imagine it getting worse (but we’ve said that before!). Our bet: a modest upturn will start to accelerate in late 2009.

1. Sustainability. Finally there is real momentum, not just talk, in the sustainability movement. A lot of new communities, both 55+ and CCRCs (Continuing Care Retirement Communities), are being built green, even to the point of getting LEEDS certification. Many boomers will pay a bit extra to know that they are in an energy-efficient, environmentally responsible facility. Shea Homes is one of the first builders to embrace this trend as a point of differentiation.

2. Accessibility. The concept of Peter Pan homes (I will never have to grow up, I will never get old) is still alive, but less pervasive. More and more builders are building homes with universal design principles that will allow baby boomers to live in them for decades, not just years. Single floor levels, 1st floor master suites, counters and appliances that anyone can use, and ramps vs. steps are in.

3. Serious energy savings are in. Obviously this is a big part of environmental sustainability, but we are very impressed with the more widespread use of solar panels and hot water heaters, inline hot water heaters, and even geothermal. Energy prices might be down now, but it will be a while before anyone forgets their 2008 utility bills.

4. Programs for baby boomers. There is continued interest in developments that have a wide range of activities and clubs. Shuffleboard is out; Wii, art classes, and baby boomer clubs are in.

5. College and cultural programs. The most attractive developments will have built in links with local colleges and universities – or online classes as well. Some classes will be “on-campus”; convenient transportation will take others to local institutions.

6. Financial Creativity. The 55+ and active adult communities market has been put in a bind with the current housing slowdown. New residents would like to buy, but many won’t have the money until they sell their primary residence. We predict that many facilities will get creative about how to fill this gap with rent-to-own, price guarantees, time shares, and other incentives to increase revenues.

7. Baby boomers refuse to be labeled. 76 million prospects would get any marketer salivating. A lot of boomers will skip the active adult community thing as too contrived, too stereotypical, or too old; they’ll end up staying in their homes, moving to college towns, urban settings, or opting for small towns in nice areas.

8. More concepts from the hospitality industry. The folks who operate hotels and resorts know a lot about how to fill a place with customers and keep them entertained. The smart operators in the active adult industry will emulate these techniques and incorporate talent from this sector into their operations. This will mean an upgrade in amenities and recreational options – look out for even more concierges!

9. Urban and downtown environments will thrive. Developers who are enchanted with the low cost of land in the boondocks may find tough competition from other firms who invest in downtown facilities where residents can walk or take public transportation to shopping, cultural, and community events. Smart developers will take advantage of redevelopment real estate opportunities in small towns and cities of all sizes.

10. Cookie cutter developments will yield to those offering more diversity. Baby boomers hate nothing more than being labeled conventional. So if a development’s homes and residents all look like they belong on the same cookie sheet, the potential audience will be limited. We have a new President who’s popular because he’s “cool” - developments could learn from that - variety and being interesting could get your development elected.

What’s Your Opinion?
Do you agree with this list? Or what did we miss, overlook, or just get plain wrong. Everyone would like to know, so use the “Comments” button below to post your own prognostications. Thanks!

References:
Building Design & Construction by Bradford Perkins
Top 10 Trends in Senior Housing for 2009 (Topeldercares)
Baby Boomers Plan Now to Avoid Outgrowing Their Homes
Top 10 Baby Boomer Retirement Trends for 2008

Our New Guest Columnist Writes: “The Pleasure of Nothing”

Topretirements is thrilled to announce that our frequent contributor, Betty Fitterman, has agreed to be a guest columnist on this site. Her new column will appear in our Tips and Picks Section under the heading, Betty’s Thoughts on Retirement. As many readers will remember, Betty has already contributed one of our best read collection of articles, a 6 part series on the trials, tribulations, and tantalizing highs that comes from “Turtle Living” - that is, retiring to a home that is really a 41′ Class A Motor Coach.

First Installment - The Pleasure of Nothing
Betty’s series will touch on other parts of the retirement life as it applies to over-achieving baby boomers. Over her long career as a successful advertising agency executive from the creative side, her perspectives are sure to be entertaining as well as thought provoking. Witness her first column, “The Pleasure of Nothing“, just posted to the site. Check it out. Betty welcomes comments on her musings, which you can do in the Topretirements’ Forum under “Baby Boomer Stuff“.

15 Bike-Friendly Retirement Towns

Thanks in part to last year’s energy crisis, biking is hot again. At least $4/gallon gas had one side benefit, it made us aware of the joys and simplicity of our bicycles for transportation and recreation. Knowing that many retirees are looking for bike-friendly retirement towns, we recently authored an article that highlights 15 top bike-friendly cities. You can see the in-depth article in our Tips & Picks section - 15 Great Biking Towns for Retirement. The article discusses bike-friendly towns in 3 categories - those set up for bikes as the best form of transportation, those who have wonderful bike trails, and finally - towns that either have or are near the best mountain biking.

A lot of cities and towns are beginning to realize that making towns easy places to bike is good for many reasons - it adds to the quality of life, lowers pollution and traffic, and improves recreation. Some of the steps they are taking are adding bike lanes, closing traffic at some times or days to other vehicles, mandating bike racks in new facilities, incenting employers to add showers and lockers, and adding bike trails in parks and greenways.

Each town in the article has a link to a detailed profile.

Further Reference:
Miami Herald article - Miami Gets Bike Friendly
Best Retirement Towns for Gardens
Best Towns for Golf
Best Towns for Bookstores

Baby Boomers Lowering Average Age in Retirement Communities

The average age of active adult and retirement communities was reasonably stable - until now. While the original active adult communities like Century Village and Sun City have been getting older as their early residents aged in place, this was countered in the overall population by residents in newer communities, who tend to be on the younger side. Enter those darn baby boomers, the oldest of whom are now turning 63.

One of the more interesting examples of this demographic tilt is occuring in Laguna Woods Village, a huge (18,000 residents) and long-established active adult community in California. Baby boomers are tilting Laguna Woods’ average age scale youngward - to about 67 from 70 a few years ago. Boomers have formed their own club for “young’uns”, as some call them. The Boomers Club is one of 250 clubs at Laguna Woods Village, and one of its fastest growing. The Boomers Club offers a chance for its members to pursue their type of music, dance, and parties - as well as the chance to hang with fellow members of “My Generation”. Boomers have at least one big event a month while also getting together to visit Laguna Woods TGIFs venue on a weekly basis. They also plan hikes and trips together. Membership costs $45/year. About half the club’s members are married, and many of are still working.

For more check out the OCregister article

Will Retiring Baby Boomers Pull Us out of This Recession

The deluge of unending bad economic news is enough to make Pollyanna turn downright crabby. Stocks are down, Madoff type pyramid schemes are up, and real estate can barely be given away in some parts of the country. What is worse is that Americans have forgotten their economic history. Lost is the experience we learned the hard way - that lack of confidence fuels the downturn – individuals and businesses continue to feel worse, cutting back more, so more and more people lose their jobs. The bad news cycle just goes on, until some magical day (Inauguration Day!?) when confidence returns, people start spending again, and businesses feel like they have to hire more people to keep up with demand.

Baby Boomers as Captain America, the potential savior of the free world
More impossible schemes have come true. Picture this scenario, which is based on solid numbers – millions and millions of baby boomers will be in their early 60’s this year. Almost all are close to retirement, and a significant percentage already have the resources for a comfortable one. Perhaps they invested wisely in the stock markets and shielded a lot of it from last year’s big downturn. Or they have a secure government pension that they can count on for the rest of their life. If even a small percentage of them were to invest in their retirement dream home in 2009, hire a lawyer for the closing, pay a real estate commission, pay for a moving company, buy new furniture and household items, do some small remodeling – the impact on the national budget would be huge. Their self-interest would be the confidence that they are buying low – for real estate and services.

As a strategy, we would not deny that it carries some risks. Many will no doubt find this prescription too radical. Given 2008’s performance, real estate and stock values might sink even further, and the pensions of even the soundest governments or corporations could be compromised. On the other hand we might be looking at a period of genuine opportunity, one that could help restore confidence and even do some good. At the least though, you can take this strategy as a rationalization to tell your friends why, as Captain America, you just had to save the free world and buy into that great active adult community in 2009!