New data reveals insights into the behavior, motivations, and financial situations of age-qualified buyers looking for real estate in master-planned communities.
Private Communities Registry (PCR), the trusted online resource for real estate shoppers interested in amenity-rich, master-planned lifestyle communities, has released its 2024 Survey of Homebuyers and Renters Researching Lifestyle Communities Report. This free, 32-page report reveals insight into the behavior, motivations, and financial situations of retirees and pre-retirees searching for homes in communities that provide specific characteristics, amenities, and lifestyle preferences.
“Every year, PCR surveys thousands of people actively considering master-planned communities,” says Ben Keal, PCR’s Sales and Operations Director. “We go beyond demographics – our data dives into what truly motivates them. They’re not just looking for a place to live, they’re seeking a lifestyle.”
What do these niche homebuyers want? Here’s a snapshot of some of the key takeaways from the 2024 report:
Lifestyle community buyers have big budgets for their next home
For the first time ever, the majority of respondents (52%) have a budget of $500,000 – $1 million+.
The majority of age-qualified buyers will be mortgage-free
60% plan to pay cash for their next home (up 2% from last year).
In a common year-over-year trend, the process for lifestyle community buyers remains purposeful and deliberate
88% will take more than 6 months to purchase.
Retirement is a key catalyst for life-changing moves
67% plan to relocate to a new state and cite “retirement” as the main reason (53%), followed by “seeking warmer weather” (43%).
PCR users display an active intent to buy
77% of respondents have toured a community in person, with 48% having done so within the past year.
Active adult/55+ buyers have several highly preferred amenities
- Walking/Biking Trails (71%)
- Swimming Pool (71%)
- Fitness Center (69%)
- Clubhouse (51%)
- Tennis/Pickleball (42%)
- Golf (40%)
Lifestyle community buyers value stress-free homes with minimal upkeep
69% prefer a single-level home, 68% want an open floor plan, and 65% say low-maintenance living is the most important feature of their next home purchase.
“Even with recent market fluctuations, demand for retirement communities and active adult lifestyles stays strong,” says Ben. “PCR’s latest report sheds new light on how communities and real estate companies can leverage these insights to their advantage.”
The results of this year’s report analyze the responses of over 1,500 visitors to PrivateCommunities.com who completed the survey in April of 2024. With nearly 1 million annual site visits, this report represents a segment of the impactful data regularly collected by PCR.
For details on these insights and full survey results, download your free copy of the 2024 Survey of Homebuyers and Renters Researching Lifestyle Communities Report.