Weekly Edition ~ December 6, 2019
"The two hardest things to handle in life are failure and success." ~Author Unknown
This Week's Community Review:
Palm Harbor, Florida
Palm Harbor sits on Florida's mid-Gulf Coast and is the location of Highland Lakes, a large, settled 55+ community with single family homes, town homes, lakes, a waterfront lodge, 27 holes of golf, three clubhouses, a good menu of activities and more.
Previous Weekly Reviews:
Close to Denver and the majestic Rocky Mountains, Aurora is the site of Heather Gardens, a large, peaceful 55+ community with town homes, condominiums, duplexes, a golf course, a spacious clubhouse, a swimming pool, a restaurant, green spaces, an activities director and more.
In rolling western North Carolina, funky, trendy Asheville is the site of Crowfields, an intimate, established 55+ condominium and town home community with spacious floor plans and a park-like setting.
Just outside of Houston in southern Texas, Fulshear is the site of Bonterra at Cross Creek Ranch, a 55+ enclave inside of a larger development. Single level homes are for sale, and amenities include a clubhouse, a lagoon-style pool and walking/biking trails.
About an hour outside of Atlanta in northern Georgia, Hoschton is the setting for Village at Deaton Creek, a gated 55+ community with town homes, single family homes, a huge clubhouse, planned events, trips, an activities director and more.
In rolling east central Tennessee, Fairfield Glade is a resort and retirement community with five golf courses, 11 lakes, two marinas, tennis courts, beaches, riding stables and a wide range of home styles and prices.
On Florida's Atlantic coast, Vero Beach is the setting for Vista del Mar, an established, oceanfront 55+ condominium community with a clubhouse, a swimming pool, private beach access and sweeping water views.
On the South Carolina coast, elegant Hilton Head Island is the site of Hilton Head Plantation, a large, gated community with four golf courses, a marina, a two mile beach, a wooded landscape and a wide range of prices.
On the Southern California coast, Huntington Beach is a classic beach town and the site of Huntington Landmark, a large, gated 55+ community with town homes, condominiums, two resort-style swimming pools, tennis courts, a putting green and a park-like setting. It is also just a mile from the beach.
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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