Women 55+ Transform Condo Market

May 2016

Increasingly, women over 55 are moving to condos for a safer, more luxurious and less demanding lifestyle.

Single person households represent 76% of households for women near retirement age. The number of Canadians living alone has been increasing for years and has more than doubled between 1971 and 2011. A rising divorce rate partially explains this increase. Other factors include young adults who get married later in life.

Older women have decided that they want to live in condos rather than single family homes or rental properties.

Condo living offers the security of home ownership without the burden of maintaining a house.

Safety is an important factor for single women. A concierge and staff in lobbies provide security. They don’t have to worry about strangers knocking on their door. They can leave their home unattended when travelling. Hallways and lobbies are well lit. Underground parking, with good lighting and security cameras, provide safety and security.

Condo suites require less work than maintaining a house. Monthly maintenance fees cover most of the work that needs to be done to maintain a home and allows for a greater degree of independence.

Despite the smaller size of some condos, amenities such as guest suites make it easy to have visitors.

While some regret the loss of private outdoor space, easier access to shopping, restaurants, malls and public walking areas can more than compensate.

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