| There are many types of retirement communities. | | | | Watch these things. |
| You can live in a gated community where homes | | | | For built out communities: |
| start at a million dollars or a park model home park | | | | 1) Talk to the current residents without the |
| where a furnished used unit can be purchased for | | | | salesperson present. Ask tough questions or you |
| $15,000. | | | | may be sorry after moving in. How is park |
| Here are some of the things to look for when | | | | maintenance? Is the place clean? Are there periodic |
| selecting a community and before you part with your | | | | assessments? If so for what? How is the HOA |
| hard-earned cash. | | | | structured? Are complaints handled satisfactorily? |
| For new communities: | | | | 2) Do they have the amenities you want? If you are |
| 1) Check on the developer...Is the entire infrastructure | | | | active, are the tennis courts maintained and utilized? |
| up? Will the clubhouse be built after he or she sells | | | | How about the pools? Are they clean? If you are not |
| 100 units? Be careful, he may run out of money and | | | | quite so active do they have the crafts you like? Is |
| leave you with empty promises. If possible, visit | | | | the community hall kept up? |
| other developments they have done and talk to the | | | | 3) Most importantly, are the resident's folks you are |
| current residents. | | | | comfortable with? Are they friendly and helpful? |
| 2) Are the common utility costs shared by everyone | | | | The time you spend before you write a deposit |
| or prorated on full build out? Say you are the 100th | | | | check is crucial. Spend this time wisely, visit with |
| unit purchased and full build out will be 1000 units. If all | | | | folks, and remember the salesperson is commission |
| the lights are up throughout the park will your share | | | | driven; you will have to do your own due diligence. |
| be 1/100th or 1/1000th. The fair way would be 1 | | | | Most of all enjoy the process...you are going to retire! |
| 1000th, it is not your fault units are not selling, the | | | | Enjoy. |
| developer is in the real estate business not you. | | | | |