Senior Living

Housing Options for Seniors in Cornelius Who Are Downsizing

Cornelius, NC Real Estate Townhomes for Sale – for Seniors

Housing-Options-for-Seniors-in-Cornelius-Who-Are-Downsizing

Housing Options for Seniors in Cornelius Who Are Downsizing:

The Census Bureau estimates that nearly 10,000 baby boomers turn 65 every day. America’s senior population has hit 50 million and in Cornelius, North Carolina, 10% of the population is comprised of mature adults. Sooner or later, most of these people will look to downsize and if that is something that’s on the agenda for your parents or loved ones, there is plenty of help available to find an appropriate home.

The Housing Market in Cornelius, North Carolina

Trulia reports that the housing price trends in Cornelius show a 5% year-on-year rise. The average median sales price of a house is $276,000 while the price per square foot is $165. Rents have also increased by 2% annually, with the average rent at $1625. The median income of a senior household is at $51,246 according to stats from Census Bureau. It is safe to infer that seniors in Cornelius Single Family Homes have the financial capability to buy a property and this is supported by evidence that home ownership is high among senior households. However, roughly 12% of older households still rent and the average social security income is just over $20,000 a year, which is 50% less than the median income. There is still a significant number of seniors that rely on incomes of less than 10-20k per year.

Can Seniors Afford to Buy a Smaller Property?

With 88% of senior households owning homes, it is reasonable to assume that they can sell their property at a good price and have enough to buy something smaller, such as Cornelius, NC Townhomes and Condos for Sale. The median price of a home in Cornelius represents one of the highest in the state of North Carolina. Under the assumption that a senior will be able to sell their home at the going median price or more, we can infer that they will be able to relocate to a smaller property. Most will probably opt for the convenience of living in an apartment or a townhouse which is smaller in size, cheaper to maintain and has amenities for seniors such as lifts and ramps. The average size of an apartment in the US is 889 square feet which puts its value at roughly $160,000 – which is more than the selling price of a Cornelius home. The elderly have several choices whether to swap their home for retirement communities or live in smaller houses. Adult communities will cost between 200-400k while small houses start at 150k.

Real Estate in Cornelius is booming with prices increasing steadily. Seniors who own a home will be able to sell their property at good prices, buy a smaller place to live and still have something left over. However, for those who are renting, prices are also increasing each year and those living on lower annual incomes will probably find it difficult to buy a property.

Housing Options for Seniors in Cornelius Who Are Downsizing has another great option on the greater Lake Norman area along with Cornelius are Active Adult Communities 55+  Subdivisions.  Some located in Cornelius is Baileys Glen Homes 55+, The Courtyards on Lake Norman and The Courtyards at Jetton.  All of these homes are Ranch built homes and just 2-3 bedrooms, but many have full service amenities on property, such as Pool, Community Center, Recreational areas, Games, Gyms and much much more.

See below for local 55+ Active Adult Homes for Sale

Cornelius, NC Townhomes and Condos for Sale

Cornelius condos

Listings 1 - 20 of 24   next

19827 Henderson Road -- 2 BR, 2 BA
Price: $269,900 (1050 sqft)
Complex: Windward
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John Rhodes | MLS # 3740842 | Active
20611 Cutter Court -- 3 BR, 2.1 BA
Price: $719,000 (2198 sqft)
Complex: Pointe Regatta
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Leonard Ryden Burr | MLS # 3700039 | Active
17810 Half Moon Lane -- 3 BR, 2 BA
Price: $519,900 (1361 sqft)
Complex: Half Moon Bay
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Puma & Associates | MLS # 3708768 | Active
21045 Cornelia Grove Way -- 3 BR, 3 BA
Price: $475,900 (2047 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3708935 | Active
21045 Cornelia Grove Way -- 3 BR, 3 BA
Price: $460,900 (2047 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3676519 | Active
18803 Vineyard Point Lane -- 2 BR, 2 BA
Price: $409,000 (909 sqft)
Complex: Vineyard Point
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WEICHERT, REALTORS- | MLS # 3727722 | Active
18699 Vineyard Point Lane -- 2 BR, 2 BA
Price: $319,000 (874 sqft)
Complex: The Arbors
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Adam Blake Properties | MLS # 3734391 | Active
8669 Edinburgh Square Drive -- 2 BR, 2 BA
Price: $295,000 (1599 sqft)
Complex: Edinburgh Square
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Allen Tate Lake Norman | MLS # 3737944 | Active
18739 Vineyard Point Lane -- 2 BR, 2 BA
Price: $279,000 (874 sqft)
Complex: Vineyard Point
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Brian Griep Properties | MLS # 3735409 | Active
21024 Cornelia Grove Way -- 2 BR, 2 BA
Price: $277,900 (1167 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3717344 | Active
18736 Nautical Drive -- 2 BR, 2 BA
Price: $275,000 (931 sqft)
Complex: Admirals Quarters
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Keller Williams | MLS # 3738943 | Active
21024 Cornelia Grove Way -- 2 BR, 2 BA
Price: $262,900 (1167 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3717335 | Active
21024 Cornelia Grove Way -- 2 BR, 2 BA
Price: $262,900 (1167 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3717339 | Active
21024 Cornelia Grove Way -- 2 BR, 2 BA
Price: $262,900 (1167 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3702694 | Active
21024 Cornelia Grove Way -- 1 BR, 1 BA
Price: $232,900 (966 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3717330 | Active
21024 Cornelia Grove Way -- 1 BR, 1 BA
Price: $227,900 (966 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3717305 | Active
21024 Cornelia Grove Way -- 1 BR, 1 BA
Price: $227,900 (966 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3717307 | Active
21024 Cornelia Grove Way -- 1 BR, 1 BA
Price: $227,900 (966 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3717290 | Active
21024 Cornelia Grove Way -- 1 BR, 1 BA
Price: $217,900 (966 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3717321 | Active
21024 Cornelia Grove Way -- 1 BR, 1 BA
Price: $217,900 (966 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3676550 | Active

Listings 1 - 20 of 24   next

Lake Norman Area Active Adult Communities 55+

Listings 1 - 9 of 9

13539 Cloverknoll Drive -- 3 BR, 3 BA
Price: $599,750 (2469 sqft)
Subdivision: The Courtyards at Kinnamon Park
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Helen Adams Realty | MLS # 3735677 | Active
4822 Looking Glass Trail -- 3 BR, 2.1 BA
Price: $565,000 (2132 sqft)
Subdivision: Trilogy Lake Norman
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Lake Norman Realty, | MLS # 3732988 | Active
11 Pleasant Run Drive -- 3 BR, 3 BA
Price: $461,230 (2826 sqft)
Subdivision: The Courtyards at Eastfield Farm
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Plowman Properties LLC | MLS # 3692341 | Active
9 Pleasant Run Drive -- 3 BR, 3 BA
Price: $425,720 (2468 sqft)
Subdivision: The Courtyards at Eastfield Farm
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Plowman Properties LLC | MLS # 3693906 | Active
10 Pleasant Run Drive -- 2 BR, 2 BA
Price: $413,900 (2053 sqft)
Subdivision: The Courtyards at Eastfield Farm
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Plowman Properties LLC | MLS # 3695256 | Active
6 Pleasant Run Drive -- 3 BR, 3 BA
Price: $394,720 (1965 sqft)
Subdivision: The Courtyards at Eastfield Farm
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Plowman Properties LLC | MLS # 3692337 | Active
7 Pleasant Run Drive -- 2 BR, 2 BA
Price: $383,900 (1776 sqft)
Subdivision: The Courtyards at Eastfield Farm
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Plowman Properties LLC | MLS # 3693894 | Active
5 Pleasant Run Drive -- 2 BR, 2 BA
Price: $358,000 (1519 sqft)
Subdivision: The Courtyards at Eastfield Farm
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Plowman Properties LLC | MLS # 3690813 | Active
207 Flat Rock Drive -- 2 BR, 2 BA
Price: $329,000 (1595 sqft)
Subdivision: Trilogy Lake Norman
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Helen Adams Realty | MLS # 3591711 | Active

Listings 1 - 9 of 9

THE MARTIN REAL ESTATE TEAM OF LAKE NORMAN

The Martin Real Estate Team is here to help and answer all of your Real Estate Needs and Questions 7 days a week.

Questions, or would you like to receive more information about a Buying a Home for Sale, or interested in Listing your Home for Sale, simply fill out the Our Contact Form or for a faster response you can also call the Cornelius / Lake Norman / Charlotte Real Estate Specialists at 704-900-1619 right now!

See Also: Cornelius, NC Real Estate Blogmartin-real-estate-team-of lake-norman

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