With developers now specifically designing homes to attract downsizers, it is crucial to remember that what downsizers want extends beyond what typical residential developments offer.
The downsizer market is one of the strongest demographics of residential buyers. They're looking to sell their high-maintenance homes and move into easy care dwellings within the same community that allows them to maintain their lifestyle without the hassle.
As the Australian population ages and becomes more affluent, downsizers are also looking for brand new residences that offer high-quality design and superior finishes in detail while also allowing them the ability to "lock up and go" in order to make travelling easier.
One developer that understands the essential needs and desires of downsizers is Central Element, a Sydney-based developer that has successfully launched a number of developments specifically with downsizers in mind.
“During the planning stages of our developments, we don’t assume what downsizers need – instead, we actively interview them in order to find out exactly what they are looking for in a home,” Central Element development director Nathan Chivas said.
“Downsizers want to remain agile, continue being a part of their community, and overwhelmingly, they want to live in a home they’re comfortable in that supports their existing lifestyle.
“They want all of this in a development that won’t force them to give up the comforts they’re used to.”
Central Element’s latest foray into the downsizer market comes with their Beecroft project, The Malton – a boutique over 55’s development, with only 10 bespoke residences that incorporates a striking heritage façade.
Showcasing The Malton’s attraction to downsizers is how warmly it has been received in the area, with over 80 per cent of the project enquiries coming from within two kilometres of the development.
All purchasers to date are downsizers who have chosen the project based on how well it meets their specific needs.
“With The Malton, we are creating homes for downsizers that are not only high-quality but also come with all of the details that they would expect from a large-freestanding home,” Chivas said.
“We’ve included features like abundant storage, multiple carparks, spacious outdoor entertainment areas and kitchens complete with natural stone benches and Gaggenau or Miele appliances. We also offer a solar panel upgrade option.”
While some of these design features may seem excessive for investors or other residential buyers, they are necessary when it comes to attracting downsizers and can make all the difference when it comes to securing buyers – especially when these luxuries demonstrate that downsizing does not mean downgrading on quality and amenity.
The Malton also offers downsizers another key benefit when searching for floor plans that allow for some level of customisation, whether it be adding additional storage bespoke requests or other additions that transform a space into a home.
“At The Malton, we’ve had some requests for things like bi-fold doors to the outdoor area, external taps near carparks and extended storage cages and we’ve been happy to meet requests, where possible,” Chivas said.
“No two buyers are going to have the exact same lifestyle or needs, which is why it’s important for us to talk to them and see how we can create an end-product that suits them.
“We want our buyers to be able to call our product ‘home’, which is why we’re happy to work with them to allow them to customise some aspects of the design when they fall within the right parameters.”
Located just outside of Beecroft Village on the coveted Malton Road, The Malton is a successful response to the shifting demands of the current property and downsizer market.
The Malton in Beecroft joins Central Element’s ranks of successful projects targeted toward the downsizer market with their previous project MERA Cammeray and upcoming Pymble development, demonstrating just how important high-quality, spacious and lifestyle-centred living is for this market.
The Malton is due for completion in 2019. For more information visit Central Element’s website.
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