Pros and Cons of Living in a 55+ Community
Consider the amenities and costs of moving to a 55+ neighborhood. Although 55+ communities offer many amenities, HOA fees can be quite high. Private maintenance is also required. In addition, if you’re retired, you’ll probably want to live in a 55+ community that offers the same amenities for a fraction of the cost.
Living in a 55+ community has its disadvantages
There are many benefits to living in a 55+ community. They are easily accessible and offer many recreational opportunities. Others are homophobic, and have strict rules regarding pets. Some may require a home owner’s association fee or contract and may not allow pets. But these advantages outweigh the drawbacks. Here are some of the things to consider when moving into a 55+ community. Below are some of the disadvantages associated with living in a 55+ community.
Amenities offered in a 55+ community
A 55+ community offers many advantages for retired adults. These communities are often less expensive and offer more amenities. In addition, they are located near popular shopping and dining destinations. Seniors who live in 55+ communities tend to be healthier and happier. Some communities offer services and amenities that aren’t available in traditional communities such as yard care. Many 55+ communities are located near major employment centers. To make your life easier, here are some of the benefits of living in a 55+ community.
Cost of living in a 55+ community
The cost of living within a 55+ community may be comparable to that of a traditional planned community. The amount you pay depends on the features and amenities you get, as well as the number of bedrooms you need. Seniors often view their new homes as an investment, and use the proceeds from their previous home as the down payment. The homeowner’s association fee may cover snow and lawn removal as well as other senior-specific amenities.
Cost of HOA fees in a 55+ community
The common areas are maintained by homeowners in 55+ communities. Some HOAs charge small fees to maintain common areas such as foreclosed houses, real estate signs, parking over sidewalks, and other items. Other fees are required for community Christmas lights or garage sales. Additionally, these associations are required to have board approval before making changes to common areas. The cost of HOA dues in a 55+ community may be too high for many homeowners.
HOA rules for 55+ communities
Make sure to review the HOA rules before moving into a 55+ community. Surprised to learn that your HOA board must approve any changes you make to your home. Some HOAs limit the number of pets that you can keep. The rules can also affect your landscaping. Also, be aware of any restrictions regarding holiday decorations. You might need permission to decorate your holiday tree.