Weekly Edition ~ June 14, 2019
"Each fairy breath of summer, as it blows with loveliness, inspires the blushing rose." ~Author Unknown
This Week's Community Review:
Outside of Phoenix in southern Arizona, Peoria is the site of Westbrook Village, a large, established 40+ community with Mediterranean-style casitas, condos and single family homes. Homeowners enjoy recreation centers, golf courses, movie nights, ice cream socials and much more.
Previous Weekly Reviews:
Just outside of Charlotte, North Carolina, Lancaster is the site of Tree Tops, a wooded 55+ community with a charming village center, a rookery, nature paths, a putting green, an amphitheater, single family homes and more.
On the southwestern Florida coast, lovely Naples is the site of Lely Resort, a beautiful all ages community popular with baby boomers. Amenities include two clubhouses, a lagoon-style pool, a bistro, three golf courses and an abundance of classes. Homes come in a wide range of styles and prices.
Spokane is in eastern Washington and is the site of Sundance Meadows, an attractive 55+ manufactured home community with a pretty setting, a clubhouse, a swimming pool, RV and boat storage, a nearby golf course, mountain views and more.
Outside of Charlotte in southwestern North Carolina, Matthews is the site of Polo Club at Matthews, an intimate town home community popular with empty nesters and retirees. The single story residences are inspired by English cottage architecture, and amenities include a clubhouse, a swimming pool, walking paths and more.
Port St. Lucie is on the southeastern Florida coast and is the location of Vitalia at Tradition, a 55+ single family home enclave within a larger development. Amenities include lakes, a putting green, tennis courts, walking trails, a swimming pool with cabanas and more.
Outside of Phoenix in southern Arizona, Mesa is the location of Greenfield Glen, an established 55+ community with single story, Mediterranean-style condominiums, a clubhouse, a swimming pool, a spa, quiet streets and an active activities calendar.
On the eastern Florida coast, Melbourne is the site of Alamanda Key, a Key West-inspired 55+ community with single level, single family homes and duplexes. Amenities include two lakes and an "island-style" clubhouse.
In lush central Arkansas, Hot Springs is the setting for Diamondhead Resort, an all ages lakeside community popular with baby boomers. Amenities include a golf course, tennis courts, a marina and more. Home prices span a wide range.
Age Restricted Communities 101
The kids have moved out. They have launched themselves into a career, parenthood, home ownership. You decide it's time to downsize. But how? Into where? You're still healthy, active. You're not ready for a continuing care community. The decision can be daunting.
A 55-plus or active-adult community is one option. The only legal exception to non-discriminatory fair housing laws, an age restricted community is run by a homeowners association that offers some exterior maintenance and amenities to its members. Amenities could include a private golf course, sizable clubhouse, 24/7 security, or transportation to and from local hospitals or shopping malls. Housing in such a community can range from modest condominiums to attached homes to luxury estates.
How will you decide? Are you ready for the time it might take? Demand for homes in active-adult communities is on the rise. You'll be competing against other baby boomers, maybe even some Gen-Xers. Start your research a few years before your retirement date. Find a real estate agent that specializes in master-planned communities or senior home purchases. The National Association of Realtors does offer training and certification for senior specialists.
Look at the location. Does it have the right weather? Is it close enough to family? Is downtown too far away or not far away enough? Will you have acclimate? What are local taxes like? Check out the neighbors. Are these the people you want to age with? Make sure you know what services might be available for you as you age. Is your 55-plus community near a hospital, a grocery store, a bank, a pharmacy? Can they get you to the hospital and grocery store once you decide you no longer want to drive? Maybe the community offers grocery delivery? Are there senior fitness classes, personal trainers?
Be sure you understand what amenities you are paying for. Some communities require that you buy an equity membership or hide the cost of that lap pool and golf course in high HOA fees. Inspect your prospective community's activity calendar. Does it have the right mix of leisure and lecture? Are there too many card tournaments and not enough day trips? Do you hate golf, need 39 shuffleboard courts? Is there an activities director?
Understand your prospective HOA. How long is the list of restrictions? Do the board politics give you pause? Will they force you through a long approval process? Will they ask you for bank records and references?
Investigate the community's financials. Are they solvent? How well did they weather the crisis when the housing bubble burst in 2008? And what about the builder? How long have they worked for seniors? Do they understand aging in place? Do they understand the need for zero step entries, wider hallways? Or have they just gotten into the game? Del Webb is credited with inventing the age-restricted community. Keep your eye on what they're building. Other companies to watch are Lennar, Shea, and Taylor Morrison.
Remember, you're not just buying a new house. You're buying a new way of life.
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