Is Purchasing in a 55+ Community a Sound Investment?
Many 55 and over communities provide easy living for residents by taking care of landscaping and other important maintenance. Active adult developments usually provide a wide array of amenities and social clubs that keep retirees happy and healthy. Despite these obvious perks, some buyers worry about resale in 55+ communities. Purchasing a home is a huge investment and you want to be sure that you won’t lose money when it comes time to sell. Resale can be more challenging in senior communities because of a limited target demographic. Before you purchase in a 55+ community make sure that you understand the demographic makeup in the area, and the neighborhood amenities available to attract buyers.
Florida Demographics & Resale in 55+ Communities
Florida is a popular retirement destination that provides a qualified pool of buyers for senior housing. US World News just published a survey of retirement destination preferences for individuals age 45 and older. Thirteen of the twenty-five best places to retire were cities in Florida. Tax benefits, affordability, and a warm tropical climate make Florida the top retirement destination in the country. Seniors’ attraction to the Sunshine State is demonstrated in our demographic makeup. As of July 2019, 20.9% of Florida’s population was 65 years of age or older According to the US Census Bureau.
Neighborhood & Community Amenities Impact Resale
There are many factors to consider when choosing a neighborhood. You want to purchase in a community that will be a good fit for your lifestyle. You also want to appeal to potential buyers when the time comes to sell. It is much easier to sell in some 55 plus communities than it is in others. Associations that require a country club membership can make resale more difficult because of expensive membership fees. However, there are many communities that offer first-class amenities without hefty membership fees. Clubhouses, theatres, card rooms, pools, golf courses, tennis courts, walking trails, ballrooms, libraries, lecture halls, and social clubs can be a huge draw for buyers looking to live an active lifestyle in retirement without the country club price tag.
Proximity to entertainment, dining, hospitals, and major transportation are other important considerations for resale in an active adult community. We have quite a few highly rated communities in South Florida to choose from. Valencia Reserve, Cascade Lakes, and Palm Chase are good examples of active adult communities that tend to sell quickly in Palm Beach County. Real-ativity makes it easy to find detailed information for 55 and over communities. Learn about HOA Rules & Regulations, HOA dues, maintenance that is cover by the association, community amenities, and explore the surrounding neighborhood to be sure it will be a good fit for your lifestyle.