Parents whose kids have left ‘the nest’ are keen to move out of their large family homes, says Grahame Diedericks, managing principal for Lew Geffen Sotheby’s International Realty.
Many of these buyers are still a long way from retirement, so although they are seeking smaller and lower maintenance properties, they do not want to be tucked away in a retirement village, he added.
“Essentially, they are looking for a property in which to start the next chapter of their lives, and this usually entails downscaling both in property size and price in order to free up not only their time but also money for things like travelling and new hobbies and interests.”
“Although security, convenience and access to amenities are common criteria, some prefer more tight-knit communities whilst others prefer a more autonomous lifestyle within a bustling neighbourhood, and there are numerous excellent options for these buyers,” said Diedericks.
Here are a few places downscaling parents are moving:
Note: Price ranges are rough estimates based on available listings provided by Lew Geffen Sotheby’s International Realty.
- Apartments: R1,000,000
- Houses: R1,400,000 to R1,800,000
Situated in Midrand, this suburb is close to Waterfall, and Kyalami Estate with close assess to the Mall of Africa.
“Modern two-bedroom townhouses start at around R1,400,000 million and three-bedroom units from around R1,800,000 million, and for those seeking true lock-up-and-go homes, there are stunning apartment complexes where units begin at around R1,00,000 million,” said Diedericks.
- Apartments: R800,000
- Houses: R1,200,000 to R1,700,000
Populated by clusters, townhouses and estates, the suburb of Crowthorne is a little further out with a country living atmosphere but close to golf courses like the Kyalami Country Club.
Sandton, Pretoria and the Johannesburg CBD are only half an hour away.
Carlswald North Estate
- Apartments: R830,000 to R1,200,000
- Houses: R1,100,000 and R2,000,000
“This is a very community-oriented estate which offers an array of amenities for residents to enjoy together, including a gym, squash and tennis courts, cricket nets, a soccer lawn, jungle gym and play area, jogging and walking paths,” said Diedericks.
- Apartments and houses: Starting at R2,600,000
Kyalami Glen is a medium-sized estate that has seen an uptick in enquiries from middle-aged parents whose kids have left the house.
“Many people at this stage of their lives are embracing a new lease on life, and suburbs and estates that allow for an active, secure lifestyle with easy access to facilities, preferably within the boundaries of a community, are especially attractive – and even better if there’s a golf course or recreational wildlife green space on site or nearby.
Many of the estates offer shared communal responsibilities.
- Houses: R1,600,000 to R2,500,000
Situated on the border of Randburg and Roodepoort, with views of the Magaliesberg Mountains, Eagle Canyon ticks all the right boxes with its 18-hole golf course, clubhouse facilities and restaurant, gym, expansive landscaped parks, 12km of walkways and ten scenic dams, said Diedericks.
Despite the country lifestyle on offer, the estate is near Northgate, Clearwater, Cresta and the N1.
Olivewood Lifestyle Residential Estate
- Apartments and houses: between R3,400,000 and R4,700,000
Centrally located near Fourways and close to all amenities, this exclusive estate boasts wholesome living with a village atmosphere and close-knit community, said Dedericks.
“With a commitment to sustainability and energy efficiency, each home benefits from thermal insulation to ensure cooler temperatures in summer and warmth in winter and, with solar energy being the main source of power, energy bills are significantly reduced.”
- Apartments: between R3,890,000 and R75,000,000
Ranked by New World Wealth as one of the top ten luxury apartments in South Africa. The Houghton is the option for South Africa’s mega-wealthy that wants to be in Johannesburg but have exclusivity and privacy.
Amenities include a Jack Nicklaus Signature golf course, walking paths, pools, gourmet restaurants, a spa and a gym.