Considering Age-Restricted Adult Communities

Choosing an Active Adult Retirement Community

Today's 55+ communities offer more advantages to active adults and seniors than ever before. They are also easy to find. In fact, chances are good that you currently live near an age-qualified retirement living community. But, even if you don't, it's fun to contemplate the many exciting locations and lifestyle opportunities that such communities are known for. They frequently offer a no-fuss style of living that's ideal for vital adults who want to keep experiencing some of life's greatest joys.

Can you imagine living in a community that feels like a private resort? That's what many people—retirees and non-retirees alike—get to enjoy on a daily basis. They have access to great social and recreational opportunities. They have fewer home maintenance responsibilities. And they frequently live in homes with high-quality features that are optimized for their distinctive lifestyles and practical needs.

In essence, a lot of people find 55+ communities appealing because of the opportunity to live a more carefree or upscale lifestyle. Some people choose to live year-round in such communities, whereas others choose to live in them only part of the year. For example, many retired seniors choose to become "snowbirds." That is, they may have two residences: one in a region that's cold in the winter and one in a 55+ community that benefits from being in a warmer climate. Over the winter months, most snowbirds move to their sunnier residences.

So what should you consider before settling on a particular community? Deciding to buy or rent a home in an age-restricted community is a major step toward achieving the new lifestyle you want. That's why it's important to consider a variety of factors that may influence your decision. The more you know ahead of time, the more likely it is that you'll actually be able to experience the kind of life you're after.

Questions To Ask Yourself

• What's my budget? — These days, it's fairly easy to find homes in 55+ communities that can match almost anyone's budget. But it's vital to have a good handle on exactly what you can afford. When you explore the potential costs, remember to consider any additional expenses such as yearly or monthly resident fees. Some of the most luxurious communities also have equity memberships, which are ownership stakes that require an extra financial investment. And don't forget to consider how much you're likely to pay in local taxes.
• What are the community's rules and covenants? — Every 55+ community is going to have some type of homeowners' association that governs what's allowed and disallowed. It's there to help ensure that home values are maintained and that residents stay safe and socially engaged. As part of that role, it will implement and enforce various restrictions. So it's wise to find out exactly what those restrictions are before moving in.
• What are my potential neighbors like? — Your future social life is too vital to overlook. You'll probably want to feel welcomed and comfortable with being yourself. So try to get a sense of the general vibe and personalities of residents in the community. Do you think your own perspective on life will be at home there? Talk with some current residents and find out. Also, remember that more and more niche communities are popping up. For example, it's now possible to find LGBT-friendly communities as well as places for self-described hippies.
• Am I ready to live in a different climate? — If you're thinking about moving far away from your current home, then it's important to know what it will really be like to live in your new location. Weather is a big part of that, especially if you'll be a year-round resident. If you can, spend some time acclimating to the climate. Rent for a little while before buying property. Make sure you're OK with how each season feels. (Sometimes, people only visit a region during its peak tourist season, so they don't get the benefit of seeing how things may change over the course of an entire year.)
• Does the community offer activities that I care about? — One of the main points of moving into a 55+ community is that you'll get to enjoy more of the things you like doing. So make sure that any community you're considering offers the activities you want to partake in. And find out how often recreational facilities are open for general use versus for organized classes or activities.
• How far will I have to go for medical care? — The answer may be very different for every community you look at. In some large communities, certain on-site health care services might be available. In others, medical facilities may be as little as five minutes or up to 45 minutes away. But if you're considering a 55+ community in a remote region, then you may want to find out if it has a designated area for supporting emergency medical airlifts.
• Is right now the best time to buy? — This question is particularly relevant if you're exploring options in a region that's popular with tourists and snowbirds. In a location like that, home sellers often drop their asking prices when the peak season ends since they'll have fewer potential buyers during the lull.

Beyond the Factors Above

Your decision may just come down to how a particular 55+ community makes you feel. Can you imagine being happy there? Does it truly represent an opportunity to start thriving in the way that you've been looking forward to? You deserve to make those lifestyle goals happen.