Tips For Buying Into a 55 and Over Retirement Community

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    There are many reasons why someone would want to purchase a home in a 55 and older retirement community. First you must understand what this type of community is. The general age to move into one of these communities is 55 but in some communities they will allow 50 to be the base point and in others they prefer the members to be 60 or older. The “They” in communities is the management board. When the community is built a management board is created to oversee how the community is run. This board typically screens individuals to make sure they are of the agreed upon move in age and they also upkeep the grounds by outsourcing to local companies.

    What is so fantastic about a 55 and older community?

    The appeal to moving into one of these communities for retired individuals is the fact that they are typically zero maintenance. After working a 9-5 job for their entire life the retiree can now kick back and relax at their home. Of course inside upkeep such as cleaning will be required but retired individuals that do not want to worry about that can hire a cleaning service at their own expense. Larger retirement communities are often gated and they feature walking trails, putting greens, indoor and outdoor swimming pools, fitness centers and group activities to encourage getting out and enjoying retirement.

    Where Can You Find A 55 and Older Retirement Community?

    These types of communities are found all across the country. Some are large and gated while others are nicely situated inside existing residential neighborhoods. Take into consideration the time of year you visited the community you are considering purchasing into. If you found a 55 Retirement Community Central Florida the weather will be different in the spring than in the summer. Make sure you visit your community of choice during every season to make sure this is the right fit for you.

     

    Tips For Finding The Right 55 and Older Community

    • Make a list of ones you want to visit
    • Contact a local realtor because most retirement homes sell through standard realtors
    • Inquire about what the management company requires of each resident in regards to assessments
    • Visit during all seasons if you are considering buying in a region you do not live in
    • Keep a list of features you like about each community if you are deciding between a few
    • Purchase according to your lifestyle and budget

     

    When you are exploring different 55 Retirement Community Central Florida communities you will notice there are often single family homes, townhouses and condo style living. This makes fantastic options to soothe whatever need you might have. Busy retirees who are often on the might prefer a condo style unit that will require minimal upkeep. If you are busy exploring locally and would prefer to limit the amount of walls shared with neighbors then you might enjoy a townhouse. Individuals that want to immerse themselves in the 55 and older community but enjoy a bit more privacy will want to shop the market of available single family homes. These are often ranch style and have two bedrooms and two bathrooms. The landscape is typically maintained by the property management company so it has all of the benefits of homeownership without all of the extra upkeep from the owner. When buying into a 55 and older community you will be responsible for your home, taxes and homeowners’ assessments. Budgeting accordingly is important. Some communities offer more amenities than others and this can come at a heftier price tag. Keep a running list of which community offers which features and which ones you find unnecessary. You are buying into your lifestyle and want to make the best decision to accommodate your retirement.