Bob woke up abruptly after his alarm clock rang the “s**t” out of him.
But something was not right.
He looked around, found the familiar painting of a nice forest of the Rockies on the wall, and his bed looked the same.
But wait a second, his window was not the same and the door also looked differently.
He was between slight panic not knowing where he was and happiness, because the window he saw was larger than the one he was familiar with in his real apartment.
He always wanted a larger window.
He opened the window and got a second shock. He looked down at a green zone that must have been part of the apartment complex where he now was.
This whole green zone was surrounded by apartments which all had the same view.
But that was not all.
Everywhere he could hear babies and kids crying or laughing. A playground was installed in the green zone.
How could he not have heard all those kids when his window was closed?
He suspected that all the apartments must have been built with noise cancelling, so that even though a lot of noise was produced by the kids, you could always get your sleep when you needed it even as a light sleeper.
Where Bob found himself when he woke up was a wellness lifestyle real estate project of my imagination directed only at young families with kids between 0 and 5 years of age.
How Bob, a single man, suddenly woke up in an apartment of this community is another story to be recounted another time.
Every professional doing business in real estate learns at one time or another that focusing on a niche is very important.
And you may not know it, but even retail buyers and private sellers do niches somehow.
By their very specific needs they are consciously or unconsciously already in a niche or part of a niche. I will get to what I mean by that later.
So this article is about the high-earning potential of specific niches within the wellness lifestyle real estate niche.
7 Well Known Real Estate Niches to Choose From
As a real estate professional, you have a broad range of real estate niches to choose from.
Chad Carson has done a great job of describing different types of niches, such as property niches, seller niches, end user niches, and locations.
Aarin Chung complemented this list in her article with two additional categories, demographics, style, and features.
So, bringing both lists together, there are these 7 known niche categories so far:
- Property (e.g. single-family homes)
- Seller (e.g. burned out landlords, divorce, etc.)
- End user (e.g. long-term rentals, Airbnb, etc.)
- Demographics (e.g. empty nesters, young professionals, etc.)
- Locations (e.g. city, region, etc.)
- Style (e.g. condos, lofts, log homes, etc.)
- Features (e.g. horse properties, basketball courts, tennis court homes, etc.).
If you want to dig deeper into each of these categories with more examples, I recommend the two articles to which I gave links above.
Digging Even Deeper With 14 Niche Ideas Within the Wellness Lifestyle Real Estate Niche
You might think ‘how on earth can there be even more niches?’.
In my last article you learned that you can achieve premiums between 5% and 20% in the wellness lifestyle real estate niche.
Wellness real estate is already a niche in itself and the advantage of it is that there is almost an unlimited amount of possibilities to create subniches.
A nice side effect is that on one hand you can attain premium prices within this niche, and on the other hand you have a growing number of end users or buyers who happily pay the premiums, since the added value of overall health of the body and mind is created.
Imagine combining all the value systems and drivers for wellness communities with the categories above and adding more specific interests or groups of behavior.
When you apply some mathematics, you can conclude the vast amount of niche opportunities that this can bring.
Now I may have lost you for lack of concrete examples. We come to them now.
Buyers in megacities are likely to be more concerned with noise pollution, air and water quality, restful sleep, and access to wellness amenities and green spaces.
The needs are quite different in suburban areas where buyers likely seek mass transit options, bike paths, better walkability, and more social interaction with neighbors.
A real estate project for the niche of consumers interested in healthy eating may include a farmers’ market, edible landscaping, farm-to-table restaurants, and organic farming.
Using and combining the above-mentioned niche category of locations and combining it with wellness real estate and healthy homes, investors and developers can use unique locational and geographic characteristics, such as wildlife refuges, mountains, nature preserves, woodlands, thermal and mineral springs, bodies of water, farmland and historical ranches, mud/salt caves, etc.
Another location category for wellness real estate and healthy homes could be historic references, music and art scenes, and culinary offerings.
14 Niches and Themes Used to Drive Wellness Lifestyle Real Estate Projects Worldwide
Many projects even go further and use several themes simultaneously.
For example, projects that market an “active outdoor lifestyle” very often also focus on arts and creativity, regenerative/conscious living, and living close to the land.
1) Active outdoor lifestyle:
- very often adjacent to lakes/rivers, parklands, etc.
- Examples: Shearwater near Jacksonville, Florida, Arden in Palm Beach County, Florida
2) Living close to the land
- Agrihoods for people looking for the old version of an idyllic rural farm life
- On-site farms, community gardens, farmers’ markets, cooking classes, and community supported agriculture
- Examples: Prairie Crossing in Illinois
3) Connected to history and heritage
- Leveraging the history of the location to differentiate from competition
- Examples: Rancho Mission Viejo, Orange County California, The Cannery in Davis, California, Light Farms in Celina, Texas
4) Rooted in arts and creativity
- Based on the belief that arts are fundamental to good life
- Arts and culture as a community centerpiece, combined with other wellness aspects (e.g. active lifestyle, sustainability, etc.)
- Examples: Serenbe in Georgia, Pinewood Forrest in Georgia
5) Destination Spa Immersion
- Homes built alongside destination spas with 24/7 access to wellness facilities, programming, and services
- Focused on luxurious experiences
- Examples: Canyon Ranch in Arizona, Terme di Saturnia in Italy
6) Luxury Wellness
- Luxury real estate and homes, featuring wellness-optimized design in each home (e.g. purified air, circadian lighting, sound-proofing, biophilic and natural materials, etc.) and wellness amenities and services
- you can find some potential homes from Costa Rica suitable for a project of your own here (https://kaishomes.com/luxury-real-estate-costa-rica/)
- Examples: Muse Residences in Miami
7) Affordable Wellness
- Affordable and low-income level projects via private-public partnerships for underserved vulnerable populations
- Examples: Via Verde in South Bronx, New York and Prospect Plaza Brooklyn, New York
8) Regenerative Planet-Conscious Lifestyle
- Projects in a symbiotic relationship between the environment and human health for buyers concerned about their footprint
- Examples: BedZED in South London, UK, Grow in Bainbridge Island in Washington, USA, ReGen Villages in Almere, the Netherlands
9) World-class Wellness Cluster
- Communities centered around biomedical/health industry clusters in the relevant region
- Aim to increase a wellness lifestyle for those who live and work there
- Examples: Lake Nona in Orlando, Florida, Destination Medical Center in Rochester, Minnesota
10) Smart Healthy Homes and Communities
- For buyers who want to embed the latest technologies and “smart living” concepts into their daily lives
- Examples: The Connected City in Tampa, Florida
11) The Peer Family
- For people living alone and feeling isolated
- The purpose of these projects is to improve residents’ social, mental, and physical health by using amenities and design to build connections or “family” among neighbors
- A merging of co-living, sharing economy trends, and healthy living
- Popular with the Millennials living in high-cost urban areas
- Examples: You+, Mofang Gongyu, Wowqu, The Collective Old Oak in London
12) Live, Work, Play 2.0
- Mixed use developments such as retail, offices, and apartments/condos; walkability and public transit become integrated co-living, coworking, and wellness facilities
- Examples: Life Time in Dallas, Texas, Roam
13) Thriving in Aging
- Retirement communities with age restriction
- Large-scale resort-style amenity-rich master planned residential developments
- Targeted at the active lifestyle interests of the Baby Boomers
- Recreational, social, and fun features
- Healthy social support networks by clustering residences around recreational and communal amenities
- Examples: The Villages in Florida, Latitude Margaritaville in Florida and South Carolina, AyurHome Community in South Carolina, Kendal Sonoma in California
14) Multigenerational Living
- Aimed at future generations still working and even having children into their 60s
- Rejection of age-segregated communities because of the importance of social relationships across generations
- Integrating age by combining senior housing with college student housing
- Examples: Rancho Sahuarita in Arizona, Serenbe in Georgia, Norterre in Missouri, The Interlace in Singapore, Humanitas in the Netherlands, Lasell Village in Massachusetts
I hope I convinced you that focusing not only on a niche is essential for a real estate investor or any other industry professional, but also the huge amount of combination potential when applying the well-known niches to the subniches of growing wellness real estate.
In terms of niche ideas, I still have a little bonus for you.
You just need to browse large Facebook groups with a high engagement rate to find even more ideas.
Wellness real estate project aimed at introverts or cat lovers / ladies, etc. Anyone?
You just need to find a large enough group online, combine it with wellness real estate elements and common real estate niches, and voila! – you might have a great new investment project bringing the online community to the world offline.
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