Active age-restricted communities are now located in most states, and they've become great places for people who want to be in neighborhoods with people in their own age range or close to it. These communities can function as retirement communities, but they are very active, with lots of amenities like golf courses, classes, and more for residents to enjoy. If you are considering purchasing a home in an age-restricted community, though, you may end up living with other restrictions that you didn't count on, unless you ask first.
Tenants and the Age Limit
Age-restricted communities usually don't let those under the age limit purchase property. However, some communities allow secondary residents, like a person renting a room from a homeowner, to be under the age limit by a few years. This policy varies widely, so you have to ask each community you look at, and you should ask, even if you're not planning to have anyone under the age limit living with you. You never know if an adult child will suddenly need a place to stay, or if you'll decide to rent a room for extra income. You should find out the limits now.
Front Yard Rules
Age-restricted communities are often run by HOAs or HOA-like boards, which means there will be cosmetic requirements for your home. These can range from limiting the height of grass to determining how many container plants you have on your porch. Be sure you are fine with the rules in a community before buying -- don't try to convince yourself that you'll adapt to a rule you find rather oppressive. Look for communities that have rules in line with what you want to do with your property.
Parking Regulations and Transportation
Will parking be limited to your driveway, or can visitors park on the street? Is overnight parking allowed on the street? If parking in the neighborhood will be severely restricted, that could make family visits rather difficult. Many communities have open parking on the street, while others have a permit system (including guest permits); you may want to look for communities with these rules.
Because the community can function as a retirement village, you might want to ask about interior home maintenance. You'd be buying the home, which would imply you'd be responsible for home maintenance like you would be for a house in a regular neighborhood. But because the community is geared toward providing a lot of services for older residents, you might want to double-check, at least if you need permission to replace anything inside the home.
Age-restricted communities can be wonderful places to live. Everyone has their own needs and preferences, so what might seem restrictive in one community to you could be perfect for a friend of yours. Keep looking around at places like the homes for sale at Casta del Sol for opportunities to buy.Share
14 April 2017
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