| So-called "retirement communities" have changed. | | | | and beautiful home to live in. Why not indeed. |
| People are not looking for a home that has been | | | | If you had a pension, social security, investments, |
| downsized amid other small homes. Today | | | | equity in your home, and inheritances, as many of |
| "retirement homes" have become active communities | | | | today's early boomers do, you would probably be |
| and the communities aren't even referred to as | | | | able to afford an upgraded and larger home. For |
| retirement although they are age-restricted. This age | | | | seniors wanting or needing downsized homes, look |
| restriction definitely makes life better for the retiring | | | | around because there are also communities that have |
| but, unfortunately or fortunately, many of today's | | | | condominiums, town homes, cottages and even small |
| "retirees" are still working part or full-time and so | | | | single-family homes available, and sometimes they are |
| retirement communities are referred to as active | | | | mixed in with large single-family homes. |
| adult communities. | | | | The homes in active adult communities are not |
| These active adult communities are not of some | | | | over-priced, either. Prices appear to be under the |
| generic structure--although some seem to be.. They | | | | general market right now but check with your local |
| are focused on either the wealthy, middle-class or | | | | Realtor. A common scenario becoming more frequent: |
| poorer seniors and various combinations. There is | | | | You sell your current home, tapping the equity, buy a |
| variety of prices, styles, activities and most of all | | | | larger and new home in an active adult community, |
| sizes. | | | | using only half your equity, banking the rest of it for |
| You should keep up with the trends. There are so | | | | your retirement. You continue working although you |
| many types of communities to choose from giving | | | | now have someone to mow your lawn and shovel |
| you many options and more decisions to make, and | | | | your snow, options that many communities offer |
| there are more being built every year. | | | | because no home or yard maintenance seems to be |
| A reader of my website, where you can find | | | | a dominating reason why seniors sell their current |
| communities and keep up with trends, emailed me | | | | homes for ones in active adult communities. You are |
| that she didn't understand why the builders are | | | | happier. |
| making the homes so big for retirees at a time when | | | | Why not indeed. |
| seniors usually want smaller. I emailed her back that | | | | To see some Model Home photos of these large |
| the builders are saying that all people do not want | | | | homes, go to |
| small anymore but instead many now are upgrading | | | | The above is not deemed advice but is for |
| and want larger for all the many hobbies and work at | | | | informational purposes only. Check with your |
| home projects they intend to pursue, in addition to | | | | professional advisers before making any financial |
| having room for children and grandchildren to visit. | | | | decisions. |
| They also may live longer so why not have a new | | | | |