The main purpose of this study is to grasp the later life''s residential preparation characteristics and the preferred residential environmental characteristics, etc. and also to analyze that what are the influences of these characteristics in choosing silver town. As an analysis of actual proof for drawing preference factors of silver town, frequency analysis to figure out the characteristics of each variables and crossover analysis to test the differences of each characteristics'' recognition are conducted. Then preference factors are analyzed by applying binary logit model at the end. Main analytic result of this study can be summarized as follows.
Expected pensions, economical preparation, physical preparation, emotional.social preparation, accessibility, and stability of the variables are shown as the influential variables in later life''s residential choice. Among the rest, economical preparation, emotional.social preparation, and stability are stood forth as the independent variables showing positive relations at intention to move in silver town. By contrast, negatives are expected pensions, physical preparation, and accessibility.
In other words, people, making a lot of efforts to economical, emotional, social preparation for later lives and thinking much of the stability, highly prefer silver town. However, people(as they got more pensions), who are putting emphasis on the physical preparation and accessibility, prefer supported housing style to silver town which is the form of collective residence.
Based on this study''s analytic result, by grasping the later lives'' residential preference characteristics of the middle aged, implications about the effective construction and management can be shown as follows.
First, people preparing economically for their aged life can be interpreted that they are making pension, saving, and insurance for their later life in other words, so that not only publicity and marketing of the silver town''s advantages and characteristics but also the development for variety forms of silver town satisfying their demand are needed. Because the middle aged class of these days are ready for their golden years unlike the existing elderly generation, they are thought that incomes are guaranteed in their old age. Thus, it is needed to develop silver town, providing services to those pensioners and saving beneficiaries according to their health.
Second, it is shown that people, putting emphasis on the emotional.social preparation and emotional connectedness, prefer silver town. Thus it is necessary to make not only diverse facilities and programs for leisure interests and social service activities but also the spaces and programs which can be linked to local community that can make ties with local residents.
Third, stability influences silver town preference a lot. This result can be interpreted that people are worried much about their physical, psychological decline and gumption as they got older. Again, they consider stability importantly for their comfortable and safe life, therefore when developing silver town, supply and management aimed at stability of the facility, robbery, security and fire should be needed.
Fourth, in the case of the middle aged class preparing physically for their healthy life, they recognize less about the necessity of silver town. Thus silver town needs to offer various facilities and programs to promote physical health with medical services.
Fifth, it is indicated that middle aged class highly recognizes the importance of the residence in their old age so that the preference of the urban and suburban silver town will be higher than the out-of-town and countryside''s one.
Finally, middle aged class whose expected pensions are higher tends to prefer general house. Therefore, publicity and marketing of the gentrified silver town''s characteristics and advantages are required and especially it is necessary to attract people receiving large amount of pension to silver town by providing services and programs they want.

Key words : middle aged class, preparation characteristics for the old age, the preferred residential environmental characteristics, silver town