As the Baby Boomers have been retiring en masse in recent years—and as they will continue to do by the millions over the next several years—demand for homes in an active-adult community has gone through the roof. No pun intended. It's true in popular retirement destinations like Florida, but also around much of the rest of the country. Developers have kicked things into high gear to try keeping up with demand, and existing 55+ communities have expanded while new ones pop up all over the place.
With so many options across in-demand locations like Central Florida, the prospect of picking an age-restricted community can seem completely overwhelming. But don't be deterred. The many amazing benefits you'll enjoy once you settle on just the right place make it more than worthwhile.
Here are 10 tips for making sure you identify that perfect active-adult community:
- Meet the people. They're your prospective neighbors, friends, teammates, dinner companions, dates, and exercise buddies. Walk among them, talk to some of them, and ask about life in the community.
- Tour the amenities. Resort-style 55+ communities offer so many facilities and amenities these days, but don't just read the brochure. See what they're really like, whether they're well maintained, and if they're in use.
- Review the social program calendar. You're moving into an active-adult community because you want to be an active adult. See what sort of social and physical activities, classes, organized events and outings, and other offerings are available, and how regularly. When you talk to people, inquire about how popular these things are.
- Check out the medical care situation. You're going to need primary and/or specialist healthcare sooner or later. If the community has on-site facilities, ask residents about their quality. Otherwise, look into how convenient and well-rated surrounding options are.
- Learn about transportation options. If you need a ride to off-site medical services, shopping, entertainment, or other destinations, does the community have shuttles? Does a bus into town pass by the neighborhood? Do residents like to carpool?
- Determine what maintenance and other care you get. Basic yard care is usually included with your annual fees, but you'll want to confirm. What sort of home maintenance and upkeep is available, either for free or for a fee? Is there support and security if you go away?
- Research the community finances. Review the HOA's financial records and take a closer look at the community's developer. If you're considering a Florida community, also look into public records of the Community Development District (CDD) if there is one. Check county public records for liens and foreclosures and request minutes from the HOA or board meetings to see what's been discussed.
- Ask about the approval process. Some age-restricted communities have pretty rigorous approval processes for new residents. Your potential new friends and neighbors may peruse your financial information, insist on speaking to references, and more. Talk to someone involved in the process so you know exactly what you're getting into.
- Find out about all the fees. Buying into an active-adult community typically comes with a few yearly fees, dues, surcharges, etc. These benefit the entire community and make possible all the amenities and services, but they can add up. Don't get caught off guard by the annual payments you'll be expected to make. Similarly, make sure you're informed about the local tax situation.
- Know your restrictions. Under HOAs or other governing bodies, residents invariably have rules, regulations, and restrictions they must follow. They can affect your ability to rent or sell your property, have a pet, park in your driveway, decorate your yard or home, place security signs on your property, grill or smoke outside, and more. The wrong rule for the wrong person can seriously detract from the experience of living in a 55+ community.
And for an eleventh bonus tip, it's important to work with an experienced area real estate agent when shopping around for a new community. They help with all of the above, and they listen to what you're looking for and point you in the right direction.
