You have just retired from your job and the golden years are beckoning. Your dreams of tackling your hobbies and projects are about to become a reality, and there is an almost youthful excitement in your step as you experience a new independence. But, now that the kids moved out and things quieted down your house seems a bit eerie, and just a bit too large for your liking. Also, as you age you just don’t have the energy to run up the stairs on whim to get something the second floor. It may be the right time to downsize and look into the benefits and advantages of buying a home in a 55+ community.
55+ Communities are retirement friendly housing complexes or neighborhoods where are least one of member of the residence is at least 55 years old. Many senior communities offer amenities such a social center where they host activities, a pool, pickleball courts and gardens. These communities are becoming increasingly popular in the United States as they afford their members with an active lifestyle without having to deal with the maintenance that a private home requires.
Here are a few things to keep in mind when hunting for your new home:
Distance to Quality Medical Care-
As you age you might find yourself with increasing health issues and it is of utmost importance to make sure there is a high quality healthcare facility nearby. Having competent and experienced medical professionals in nursing scrubs within close vicinity will give you peace of mind to enjoy these wonderful years.
Size of the Community-
Choosing the size of the retirement community is a more personal decision and opinions vary from person to person. There are communities that only have a small number of homes, which will afford you a cozier, small knit neighborhood feel. Others may prefer a large, spread out development with many homes that offer more amenities. See what you feel most comfortable with and then look for communities that are aligned with your vision. It is always a good idea to visit several communities and get a feel if this would be somewhere where you would want to buy a house. Talk to residents and see what they are saying about things that are important to you. Some even suggest renting for a few months in the community that you are considering strongly to get a real feel of it. You can utilize all the amenities, get to know the neighbors and see how the association maintains the outdoors.
Restrictions-
Being aware of age range and restrictions is very important before signing any contracts. An age-targeted community allows residents of all age ranges, as long as they are over 55 years old. Others have age restrictions which will ensure that your neighbors will be within the same age range as you. Choose what you feel most comfortable with. Each option has its pros and cons and only you can make the decision as to what is best.
HOA Fees-
HOA stands for homeowners association; the organization in planned communities run by a board of neighbor volunteers who take care of services such as maintenance of common areas, landscaping, and snow removal, as well as enforcing community rules.
You will likely be paying a monthly HOA fee for them to upkeep the community grounds and amenities. Costs vary, depending on the amenities offered and maintained required. More upscale communities will have higher HOA fees. Be sure to ask your agent what the fee is; it can vary from $100-$600 a month so it can be a significant expense.
Love the Home-
Last but not least, the actual house should one that you are excited to call home. It should meet your requirement in terms of space, comfort, convenience, safety and esthetics. Keep in mind that the house shouldn’t just suit your needs currently, but in the future as well. As you age your circumstances will probably change, so think about which things will be important that you have in your home.
These years can and should be one of the most wonderful years of your life. You hopefully had fulfilling, beautiful years in your youth, and now it is time to look forward and enjoy your future.
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