By Lianne McOuat
McOuat Partnership
For years, builders have focused on first-time buyers and growing families. Yet one of the most powerful and overlooked segments of the housing market is the 60-plus buyer – a group ready to move, but waiting for the right place to go.
Across the Greater Toronto Area, thousands of older homeowners are living in homes that no longer fit their lifestyle. Nationally, almost one-third of bedrooms in occupied homes sit empty. In Toronto, two-thirds of households led by people older than 70 are considered “overhoused.” These are individuals who love their communities but are simply out of step with their current homes.
Consistent buyer demands
At McOuat Partnership, we recognized this shift years ago, and the data tells a clear story: This market is not only large – it’s motivated and they have the money to buy right now.
What these buyers want is remarkably consistent. They’re looking for small bungalows or one-level homes on manageable lots in vibrant, connected communities. They want main-floor primary bedrooms, open layouts and low-maintenance living. But beyond the bricks and mortar, they’re looking for connection – a clubhouse with a gym or space for gatherings, small parties and community programming. Pickle ball. Yoga. Add in walking or biking trails, an off-leash dog park, proximity to golf courses or easy access to day-trip destinations, and you have the recipe for a sell-out community.
The ideal site isn’t remote like Elliot Lake. It’s within 60 minutes of their current city so residents can stay near their hairdresser, doctor and social circles. Affordability is still key: These buyers are ready to sell their family homes but don’t want to trade down in quality or give up their independence.
From a market perspective, getting this product right has benefits that ripple across the housing ladder. Every time an empty nester household moves into a new adult lifestyle community, it frees up a larger home for the next generation – families that need those extra bedrooms and yards. If even 10 per cent of overhoused households in Toronto made that move, thousands of family homes could be released back into the market.
Rethink product mix
For builders with available land, this is the moment to rethink their mix. Adult lifestyle communities are resilient, steady sellers in all market conditions because they serve a real human need – comfort, connection and belonging. And unlike speculative investment buyers, these purchasers are end users who bring stability and pride of ownership to the communities they join. By the way, when you are ready to market to them, be sure to use print media as well, as they utilize print media to do their research more than Millennials.
The future of housing isn’t just about density. It’s about diversity of choice. The active adult market represents not only a moral imperative – creating spaces where people can age well – but a business opportunity builders can no longer afford to overlook.
Lianne McOuat is Vice-President of Strategy at McOuat Partnership, a leading marketing and branding agency specializing in real estate. She is also the founder of adultlifestylecommunities.com, an online resource for 55-plus living.
