Have you heard about the lock and leave lifestyle? Coined as a real estate marketing catchphrase to promote luxury condominiums, the concept has captured the imaginations of retirees and empty nesters who aren’t interested in a traditional retirement community, but who long for luxury without upkeep.
Hallmarks of the Lock-and-Leave Lifestyle
- New or newer construction
- Open floorplans
- Emphasis on luxury and high quality finishes
- Private elevators and garages
- Rooftop or other shared party space
- Concierge services
- Amenities like golf, spa, fitness center or pool
In the over-55 crowd, the appeal for this type of luxury living meets several needs for their stage of life. An upscale condo or gated community offers:
Security: Doormen, private garages, 24-hour staff, and strategic lighting are all geared toward making you feel safe.
Flexibility: You are free to leave your home on short notice and be gone as long as you like. Amenities like 24-hour concierge services and dog walking services make life easier. Plus, you’ll never have to worry about landscaping or other exterior maintenance while you’re away.
Connectedness: For many, a unit in a coveted neighborhood offers walkability, plus easy access to shopping, dining, and other opportunities for fun and interaction. Socially-focused amenities and neighbor networks help you stay engaged and connected with others.
Variety: Many see this option as a way to reenergize and have new experiences, and choose to enjoy a lifestyle upgrade when they are recently retired or still working. The lock and leave lifestyle may not be a total cost savings, but the expense could be balanced with lower taxes and other costs associated with maintaining a home.
On the flip side, this lifestyle may not be for everyone. Common concerns include:
- Some may worry about room size and ability to host guests.
- Some aren’t ready to let go of their storage and garage spaces.
- Pet policies may vary in terms of size, breed and number of pets.
- It’s expensive. You can expect a higher square foot price, plus all of those amenities come at a cost: monthly HOA fees can add up quickly.
Are you interested in considering a lock and leave lifestyle? We have tons of ideas for you! Get in touch today and we will introduce you to transition specialists who have a handle on the luxury-without-upkeep options available in your area, and can help you make the transition with minimal stress.