As a specialist in Retirement Communities for the St George Utah area, I often get people asking me if it isn't just costing them more money to be in a 55+ community, than it is worth. It is not uncommon that these retirees do notice a steeper price tag on the home.
So, what are the benefits of being in an exclusive retirment community and do they out weigh the higher price? In St George it is about a toss up, as there are other retirement like areas. You see, for many retirees it might be just the thing though. Take Sun River for instance, our only real fully featured retirement community, it has about the most inexpensive association dues for what you are getting. Often it can be seen that the full attraction of amenities atttibuted to the HOA dues, that cost way less than they would in any other area, offset and save you about $1000 per each year that you live in there. OK, so let's say you have more than 5 active years to live, then you run up to about $5,000 in value you are recovering in the amenities. This is while the cost of each home is going to be about $10,000 or less, in many cases less, to purchase vs. in the general community. So, let's retrace our steps a bit. If it was sixes or the same value, to be in one vs. out, it would be a no-brainer, would it not? Why would you not opt for the fully featured community WITH the lifestyle you're looking for, or at least its amenities to plug into? For Active Adults I would say it is not a bad move at all, for those who plan on using those amenities and engaging in some of those programs, exercise classes etc.
On the other hand, many retirees are not as active, they have a set pattern at home and get out to stores and plays and the likes, and maybe an occasional hike, but may not avail themself too much into 'new' social circles oriented around physical activities, crafts, computers, swimming at the community center, etc. because they may feel that their time is better devoted to the already established family and social networks they have otherwise. Travel is often a consideration and saving that 5 to 10K on the home affords just those right opportunities for that.
As you can see, as a retirement specialist thinking on what inclines retirees for my local area, it is all the consideration of current activity and whether or not social networks and goals will be taking them more on the outside of that retirement community, that details whether or not they will be settling into an actual exclusive retirement community or not. I am Brian Habel, a specialist in retirement communities for one of the often top ten listed destinations for retirement. Look me up if every your in the area.
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