This is YOUR Life...Do What You Want To Do!

By
Real Estate Broker/Owner with Terry Bishop Realty LLC

Tucson’s Active Adult Communities offer a plethora of activities.  What activities do you, the active adult buyer, sincerely believe you will participate?

Are you planning on taking advantage of Tucson’s wonderful climate and surrounds?  Would you rather snuggle on you patio with a cup of java and a great book?  Perhaps you’re an artsy crafty person?  Or are you longing to play golf and go out to eat at night?  Planning on traveling to all the national parks in the Midwestern and Western states?  Or taking classes to get another degree?

Think long and hard about what you want to do in retirement…and think too about your budget.  We don’t like to admit it, but money governs  much of what we do. 

Active adult communities offer planned, structured programs with people from the same community participating.  If you are an outdoors person, is it to your advantage and interests to join an “open” hiking club where people from throughout the city belong?  What about arts and crafts?  Would you consider joining Philabaum’s Glass Art classes in downtown Tucson, or classes at the Tucson Museum of Art, or the Sonora Desert Museum?  Or perhaps you are a classic car enthusiast.

I knew a retired gentlemen, a Fortune 500 Executive, who enrolled in the University of Arizona for a degree in fine arts and graduated at the age of 76.  He fulfilled a lifelong dream.  Think about what you would really like to do in retirement.  This is much like making New Year’s Resolutions, I’m going to do x, y, and z.  But are you really going to do those things, or are those the things you think you should do in retirement?

The Homeowner’s Fees in retirement communities can be expensive.  In some communities there is a substantial fee which is paid when you purchase the house and the funds go to the capital reserves. There are monthly fees after that ranging from a nominal fee of $20 a month to more than $400 a month.

You want to consider that for every $5.00 you spend in HOA fees, you could purchase another $1,000 in a home.  A $400 fee would get you an additional $80,000 in house.  HOA fees do not appreciate like a home, and often they go up with inflation. 

The purpose of these exercises I’ve discussed during the past few days is to get you to really think about what you want so that your Realtor® can help you get the most bang for your buck.  It is pointless to pay for things you may never use, and there may be other options which suit your needs and wants better than an active adult community.  

You are making an entire lifestyle change and you are committing a substantial amount of money to make this change.  You will want to make sure you are doing what you really want to do, not what your friends, family, and neighbors think you should do!

 

http://www.meetup.com/tucsonhiking/

http://www.philabaumglass.com

https://www.tucsonmuseumofart 

http://desertmuseum.org/

Comments (2)

Adam Hamalian
Hamalian Properties Group - Lafayette, CA
Walking with you on your journey home.

Terry, I live just outside an active adult community.  My kids are still home and so its not an option for us yet.  Where do you find that most of the people buying into your communities are coming from? From around Tucson or from out of state?

Adam

Dec 02, 2014 11:33 PM
Terry Bishop
Terry Bishop Realty LLC - Tucson, AZ
Earning Your Trust and Confidence...

Hello Adam,

Generally people buying in an active adult community come from out of state. People who live in Tucson usually have established their lifestyle and know the area well.  Sometimes the restrictions are such that people will not buy in an active adult community because they want family to visit frequently.  Some of our active adult communities are communities unto themselves and people in town do not want to forefeit their ties to Tucson proper - the restaurants, the activities, the theater, the music scene, the culture, to travel 30 minutes or more to enjoy these activities.  Thank you for asking, Adam.

 

Dec 02, 2014 11:44 PM