Introduction to Active Adult 55+ Communities
When searching for the ideal setting for your upcoming retirement, active adult 55+ communities are gaining in popularity. Tailored for individuals aged 55 and above, these communities provide a variety of amenities, services, and a communal atmosphere that addresses the distinct needs and preferences of their residents. To many, this is what they envision when the think of a care-free retirement.
These 55+ and over communities, also referred to as active adult or active lifestyle communities, are housing developments meticulously crafted for individuals aged 55 and older. These communities feature a variety of housing choices, including single-family homes, apartments, townhomes, and condos.
The main objective of a 55 and over community is to create a secure, comfortable, and vibrant environment where residents can relish their golden years. Every aspect, from the community layout and home design to the provided amenities and services, is carefully planned to provide an enriching and fulfilling stage of life for its residents.
For those with specific interests, lifestyle or hobbies, one can find a 55+ community centered around those hobbies, such as golf course resorts, tennis/pickleball, or similar lifestyle orientation.
I have put together this post to allow you to check out what these active adult 55+ communities are about and see if this housing choice might be for you.
Pros and Cons to Active Adult 55+ Communities – According to the Experts
Pros of Living in Active Adult 55+ Communities
Moving into an age-restricted community provides active adults with numerous benefits that might be challenging to find in other neighborhoods. Here are some advantages of choosing one of these communities:
- Cheaper Cost of Living:
- Buying a retirement home in a 55+ community can be a more economical option, offering independence along with added amenities.
- Monthly costs vary by state, and certain communities may require a one-time move-in fee.
- Community Location:
- Active Adult 55+ communities are found throughout the United States, providing flexibility in choosing a great home.
- Options range from Sun Belt states like Arizona or Florida to staying in your current city.
- Enhanced Safety and Security:
- Active Adult 55+ communities are typically gated and located in areas with lower crime rates.
- Guest approval processes and some communities have on-site security teams.
- Low Property Taxes:
- Property taxes are generally lower as these communities don’t heavily support school funding and after-school programs.
- Amenities and Low Maintenance:
- Abundant amenities, including sports courts, fitness centers, golf courses, dining areas, classes, social events, dog parks, and art facilities.
- Homeowners Association (HOA) handles community maintenance, landscaping, and shared amenities.
- Peaceful Serenity:
- Quieter compared to neighborhoods with younger families.
- Offers a peaceful environment with occasional visits from grandchildren.
Cons of Living in Active Adult 55+ Communities
While there are numerous benefits, age-restricted communities may not be ideal for everyone. Here are some downsides to consider:
- Most Have HOAs:
- HOAs may have extensive regulations and unexpected dues.
- It’s crucial to inquire about the HOA’s health and understand fees, reserves, and communication channels.
- Lack of Age Diversity:
- Residents typically need to be 55 or older, resulting in a lack of varied age groups.
- In addition, if you are spending significant time away from your home, your younger family members can’t occupy your 55+ unit.
- No On-Site Medical Care:
- Health care services aren’t typically included in the monthly HOA fee.
- Independent living focus; residents may need to arrange third-party home care assistance.
- Strict Rules and Regulations:
- HOAs enforce extensive rules and bylaws, with fines for violations.
- Regulations cover home customization, landscaping, exterior decor, age requirements, and amenity use.
- Smaller Homes:
- Units are often smaller, such as apartments or condos, designed for two people.
- Downsizing from a larger home may require organizing belongings for storage or sorting through them.
- Financing May Be a Challenge
- Because Active Adult 55+ communities are age restricted properties, some lenders may be a bit more hesitant to provide a loan.
- You may to shop around to find a lender.
Information and Resources about 55+ Communities
This guide from Forbes magazine not only provides the run down on Active Adult 55+ communities, but also provides information for related alternatives, such as assisted living, nursing homes, etc.
Another article, from Nerd Wallet, provides a great, unbiased look at 55+ communities
This article, from KHovanian Homes, does come from a 55+ community developer, but provides a great introduction and explanation of this living lifestyle. Admittedly, it was helpful in drafting this post.
- What are 55 and Older Communities: 55+ & Over Active Adult Communities – KHovnanian Homes
If a 55+ community interests you, this article can give you a quick idea of communities that are out there. This is by no means an exhaustive list, as these communities exist across the country, not just in sunny, coastal areas.
Thoughts From Others Before You Take the Plunge
My intent with this article is not to convince my readers that they should move into a 55+ community. Rather, I know it is a popular option and want my reader’s to make an informed decision. This is why I have added this section, which provides an alternative viewpoint regarding these 55+ communities.
The article below is from another retirement blogger, Dave Hughes. This is his personal take on age restricted communities, but gives you some food for thought.
Though this article comes from a 55+ Community website, it offers a counter point to living in these age restricted communities. It is worth reading to be sure you consider this alternative with open eyes.
Lastly, for those thinking about moving to Florida, here is an interesting resource to help you avoid sink holes, which evidently are a serious issue in Florida.