In 2022, the Canadian Centre for Policy Alternatives (CCPA) released a report that found that 32 per cent more Canadians as young as age 55 retired in 2022 than in the previous year. The reasons for “The Great Retirement,” as it’s been dubbed in Canada, come as no surprise. Burnout, stress and ongoing pandemic challenges forced many to exit the labour force earlier than expected.

Coinciding with this pandemic-era surge in retirements is the increasing demand for senior housing, including active adult or active lifestyle communities. These popular, low-maintenance communities offer a social and friendly environment for those 55 and older and are fast becoming the biggest trend in retirement living in Canada.

THE BENEFITS OF ACTIVE ADULT LIVING

• A social community
As many retirees trade in their laptop bags for golf bags, the allure of a maintenance-free lifestyle, structured activities, socialization and a sense of community are some of the many factors driving the active adult market. One of the biggest benefits of downsizing to one of these communities is the access to a variety of amenities such as sports, clubs, restaurants and recreational activities.

• Security and convenience
Many active adult communities, particularly those that are gated, are designed to “lock and leave.” This can provide residents with a greater sense of security while at home or traveling. And since many of these communities are part of a homeowners’ association, household responsibilities such as landscaping, exterior home maintenance and security are covered.

• Picturesque locations
Location is also a big draw for those looking to escape the hustle and bustle of city life to more serene surroundings. Many active adult communities can be found in scenic “senior-friendly” cities with access to greenspace, lakes and forests.

WHAT TO LOOK FOR IN AN ACTIVE ADULT COMMUNITY

• Types of communities
Across Ontario, you can find different types of exclusive 55-plus communities that vary in costs and amenities. From waterfront luxury condominiums with resort-style amenities to bungalows in gated golf communities, there are many choices to fit your lifestyle and budget.

• Financial considerations
Do your research to find the best communities that match your age group, interests, lifestyle and budget. Some communities offer leasing arrangements and there are a variety of dwelling types – including detached, single-family homes, townhouses and condos. It’s important to compare rental and ownership costs to determine what makes sense for you based on your financial situation.

In addition to the cost of renting or buying, there can also be monthly fees and recurrent charges you’d be expected to pay for services offered by the community. Be sure to read the contract closely to ensure you know what you’re paying for and what services you will be receiving to determine if the cost is worth it. Items such as departure fees and maintenance fees can add up, so consult a lawyer and/or financial advisor before committing.

An active lifestyle community can be the right choice for those 55 and older who want to simplify their lives and set a course for retirement that promotes physical and mental well-being. There is no one-size-fits-all model, so do your research to compare communities to find the one that best suits your needs, budget and lifestyle.