Empty nesters is a term generally given to parents whose children have grown up and left home. Many are in the 50 to 70 age group, and there is a strong demand from this very substantial group wishing to downsize from large family houses.
The new sectional title duplex units in New Court at Steenberg in Tokai are priced from R8.55 million upwards, including transfer, and payable in late 2016.This is according to Mike Deacon, director of developers Equity Estates Cape, who says to empty nesters it makes sense to live in a secure tailor-made space once their children are no longer living at home.
“Empty nesters are usually in good health, so it is premature to move to a retirement village. They are also part of the Baby Boomer generation and often of high net worth,” he says.
“Statistics are not available for this country, however, in the United States of America, Boomers represent as much as 44% of the population. Their disposable income is considerable on all levels. Furthermore, this group is able to afford to downsize to a compact home without compromising on the luxury touches they have been used to.”
Deacon says it’s also been shown that empty nesters now have more time for other people.
“Being more sociable, they respond to a 'village feel' and to a limited number of other like-minded owners. With this in mind as property developers, after completing New Court at Alphen, it took us years to find a site of comparable quality to accommodate people in this group,” he says.
So, what makes downsizing attractive to empty nesters and others with similar space needs?
“It can be a daunting thought to downsize, but it offers many advantages. Essentially it’s about being practical,” says Deacon.
“That means having spatial requirements around present and not the old ‘three kids, two dogs, staff, garden, pool, etc.’ needs, dumping time-consuming responsibilities, freedom to travel and getting rid of that hemorrhage of upkeep money.”
From a practical point of view, he says one needs to look at a number of considerations. Do you wish to move away to a more remote area where you may lose touch with your family and friends? Talk to them about the idea of downsizing and how it will affect your circumstances. Will it improve your lifestyle and provide increased security? By ticking off the list of the pros and cons, you will find a good balance between downscaling and a happy and contented future home.
“A good start is to get rid of all the unused and unwanted items accumulated over many years in a big home. This will assist you in deciding on the size of property you wish to downsize to,” says Deacon.
“Importantly, look for something which still retains all luxury touches you are used to, without the hassles of a large upkeep with home, garden and pool maintenance. Ultimately your peace of mind is uppermost in any decision to downsize.”
After much research, he says some of the main features they took into account when designing specifically for buyers who want to downsize without compromise, were:
- They want something with style, quality and buildings of a design one can warm to, more than just a place to live.
- The need is for big living spaces, where spaces you use every day are generous, space in the right place, design based on need; room to house the good furniture, antiques, books and plenty of space for things they want to store.
- The need for a separate study, state-of-the-art kitchen, laundry and a storeroom.
- Extra bedrooms to house occasional friends, the children and grandchildren when they come to stay.
- Rolling lawns, dream landscaping, a pool and shared facilities that are maintained by someone else.
- Security is a key factor and important consideration.
Deacon says special attention has been given to creating a free-flow, village-like environment, with plenty of open spaces. Careful and extensive landscaping on the 1.6ha site will create a park-like atmosphere, with a swimming pool, a fountain court and flowing gardens.Furthermore, it has also been shown that empty nesters now have more time for other people and respond to a 'village feel' and a limited number of other like-minded owners.
An electricity supply from a generator during load shedding.
“State-of-the-art security is a critical facility - when going away owners want to be able to just lock the door and hand the key to the estate manager - they can then travel with peace of mind, knowing that when they return everything will be secure, including their possessions,” says Deacon
He says Equity Estates have designed and developed the prime New Court at Steenberg security estate in Zwaanswyk Road, Tokai, predominantly with the empty nester market in mind.
Construction is well advanced, with some units already at roof level, says Deacon.
“Based on the list of what buyers most want, the development will consist of 18 spacious double storey homes, designed with open-plan living areas, quality interiors and top-of-the-range fitted kitchens and bathrooms,” he says.
“The luxurious master suite has a dressing room and stylishly fitted bathroom, with doors opening out onto a balcony. A study, a scullery and laundry, as well as a double garage have been included. Sophisticated Cape architecture has been incorporated into the design by the developers of the award-winning New Court at Alphen.”
Deacon says special attention has been given to creating a free-flow, village-like environment, with plenty of open spaces. Careful and extensive landscaping on the 1.6ha site will create a park-like atmosphere, with a swimming pool, a fountain court and flowing gardens.
“A full-time estate manager will be permanently residing on site to supervise the property and look after all the residents’ needs. The heavy focus on security will include a single entry and exit, manned 24/7, perimeter electric fencing, CCTV cameras and off- site monitoring,” says Deacon.
“The sectional title duplex units are priced from R8.55 million upwards, including transfer, and payable in late 2016.”
He says 66% of the homes have already been sold off-plan.
For more information, email Mike Deacon.
