MAIN IMAGE: Stephan Potgieter – CEO of BetterHome Group Mortgage Origination and BetterBond, Stephen Whitcombe – MD of FIRZT Realty, David Jacobs – regional sales manager at Rawson Property Group
Kerry Dimmer
Many estate agents are still assuming that senior buyers want quieter suburbs and retirement estates, and will compromise on space. However, while these priorities matter, the evidence points to a more complex mix of emotional, practical and financial decisions.
According to BetterBond’s data for April, buyers over the age of 60 have seen their average purchase price rise by 8.05% year-on-year, underscoring their continued influence in the housing market.
“Rather than exiting the market, these older buyers, often referred to as ‘silver surfers’, are leveraging their financial stability and lifestyle preferences to drive demand,” says Stephan Potgieter, CEO of BetterHome Group Mortgage Origination and BetterBond. “While many are downsizing from expansive family homes as their needs change, they are not necessarily scaling back in value. Instead, many are investing in luxury lifestyle estates offering security, convenience and community living.”
As many of these developments are in high-demand areas commanding premium prices, they are pushing up the average purchase price for this age cohort. According to BetterBond data, buyers over 60 are now spending an average of R2.39 million on a home. This age group also accounts for one of the largest proportions of secondary bonds and bond switching, according to property intelligence data.
Financial pressure
On the flip side of this coin is a different concern. Stephen Whitcombe, MD of FIRZT Realty, says many families are now confronting a difficult reality: ageing parents often do not have sufficient retirement provision to maintain independent housing long term.
“South Africans are simply not saving enough for retirement,” says Whitcombe. “Only about 6% of people who reach 65 now will have enough money to maintain their pre-retirement lifestyle, while the rest can expect to face increasing financial pressure as they age and join the 50% of existing retirees in SA who are already unable to make ends meet.
“So it’s not surprising that 90% of people under 60 say they expect to keep working after 65 and will probably only be able to retire at 80. But the problem with this ‘plan’ is that it does not take into account that their health may not allow them to work that many extra years, or that they may have high medical and care costs that make it impossible to afford decent housing without family help.”
This brings adult children into senior housing decisions, which in many cases means building self-contained living quarters on a property the family already owns, or buying a new property that can accommodate a conversion or a cottage. “This way, any capital invested is going into the multi-family’s own property and increasing its value. At the same time, parents can enjoy independence and dignity with their own front door and live close enough for practical support.”
Whitcombe says a well-designed, 60 sqm cottage could cost between R900 000 and R1.5 million to build, depending on finishes and location, but in high-demand areas this would quickly add more than the construction cost to the property’s value. “And, when the unit is eventually no longer needed for the parents, it could become a rentable asset generating R7 000 to R13 000 a month (at current rates), or a place for the owners themselves to live when they retire.”
This plan has obvious advantages, yet even beyond the financial gains of a build or renovation, adult children are now playing a huge role in multigenerational decision-making, particularly in assessing their parents’ future lifestyle and how they structure their inheritance around property.
The inherited property
A growing number of families are taking a practical approach that runs in the opposite direction: rather than an adult child buying a property of their own with room to house their parents, they are moving back to their original family homes, usually with plans to buy these properties from their parents.
“This makes sense for adult children who are still renting and saving up to buy their first homes,” says Whitcombe. “Moving back into a family home owned by their parents most often enables them to pay little or no rent for a certain period and save aggressively for a deposit to acquire the property, while also creating natural proximity for caregiving.
“Of course the arrangement needs to be properly planned and legally structured, but the advantage for parents is that it provides them with certainty about being able to liquidate their biggest asset and have proceeds they can use to buy or build a smaller home, or simply to boost their retirement funds. For the adult child, this plan can accelerate their ability to buy instead of rent, and provide the opportunity to acquire a known property at a fair and possibly modestly discounted price.”
This choice comes with a red flag, Whitcombe points out: “Standard transfer duty may still be payable because home sales to family members are not exempt, and capital gains tax may apply for the parents depending on how much the property has appreciated over the years, although the threshold is now R3 million on a primary residence.
“The two main factors that will determine a happy outcome are advance planning and ensuring that all agreements are properly formalised by an attorney. In our experience, informal arrangements made between family members, and especially siblings, about contributions, occupancy rights and future estate distribution are a guarantee of disputes when circumstances change or when parents pass away.”
Emotional approach
For property professionals, marketing property to seniors requires an approach that blends empathy, practicality, security, future-proofing and, increasingly, smart technology. Agents who understand this shift may unlock one of the market’s most relationship-driven sectors.
A mistake that agents often make when working with senior clients is focusing purely on logistics. Downsizing is deeply emotional for seniors who are leaving homes where they raised children, celebrated milestones and built decades of memories.
“Agents need to understand the emotional side,” says David Jacobs, regional sales manager at Rawson Property Group. “Language matters enormously.
“Avoid framing the move as ‘giving up space’; rather, position it as simplifying lifestyle, improving convenience and enhancing quality of life, and really focus on their current lifestyle needs, not just property specs.”
Viewings also require a more thoughtful approach. “Schedule viewings during daylight hours and avoid rushing appointments, ensure easy parking and minimal walking distances, and if possible at all, encourage family members or trusted advisors to attend viewings with the seniors. Communicate with patience and clarity; clear explanations around costs, levies, contracts and ownership structures are essential.”
Practical considerations
One of the most important mindset shifts agents need to understand is that senior buyers often prioritise ease of living over aspirational size. Oversized homes with large gardens, staircases and high maintenance requirements are increasingly viewed as exhausting rather than desirable.
“Maintenance, security and day-to-day upkeep are more important characteristics than sheer space,” says Jacobs. “Convenience and ‘lock-up-and-go’ living are highly attractive. Open-plan living areas improve movement and visibility, and practical, manageable spaces rather than oversized homes are preferred. Importantly, many seniors are not looking for isolation. They still want lifestyle and connection, meaning that neighbour proximity and community living provide additional safety and support.”
Position your listings
The selling point for seniors is not simply the property itself, but how easily the property supports ageing well. This is where technology can play a huge role in reshaping what ageing comfortably looks like. A senior smart-friendly home may now include:
- Smart security systems.
- Fall-detection devices.
- Voice-controlled appliances.
- Automated and/or voice-controlled or motion-sensor lighting.
- Smart locks.
- Health-monitoring technology.
- Automated medication dispensers.
- On the luxury end, AI-powered assistants helping seniors remain safer and more self-sufficient for longer.
These features are particularly valuable for adult children concerned about ageing parents living alone. Research increasingly shows that smart-home integration can reduce stress, improve safety and support mental wellbeing among older residents.
Often overlooked in listings are the features that are senior pull-cards, which can be decisive for senior buyers and their families, including:
- Step-free access.
- Single level.
- Wheelchair-friendly movement.
- Bathroom accessibility.
- Lighting quality.
- Ease of navigation.
- Smart-home compatibility.
- Caregiver accommodation.
- Parking proximity or lift access.
- Visitor convenience.
- Access to medical centres (including pharmacies), sporting clubs, shopping centres, public transport and restaurants.
More empathy
For agents accustomed to fast-paced transactional selling, selling to seniors requires a slower, more consultative process with layers of trust being built simultaneously. This means taking a relationship-first approach that includes empathy, patience, transparency, clarity and emotional reassurance. The agent who can build trust effectively opens the door to a captive ‘golden years’ market.
