What to Know About Living in Age-Restricted Housing

Important Things to Remember About Age-Restricted CommunitiesAs life progresses, homeowners may realize their current Big Lake AK home isn’t meeting their current needs, especially as they age. One of the solutions homeowners can turn to as they get older is to move into an age-restricted community where the housing is made with their needs in mind and they can be around other residents who are their age. Living in an age-restricted community may sound great to some people, but there are some important factors to consider before jumping in. Here are some things all home buyers need to know before moving into an age-restricted community.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Communities Aren’t Always Child-Free

For some home buyers, one of the selling features of an age-restricted community is how no one under a certain age is permitted to live there. However, it’s important to remember that many of the community’s members may be parents and grandparents, so visits from families are to be expected. While children and younger adults may not be allowed to live there, they will still be there on occasion in order to visit their loved ones.

Communities in Warm Areas Have Seasonal Residents

If an age-restricted community is located in a warm area, there’s a very good chance that a portion of the residents will be gone for part of the year. “Snowbirds,” as they’re often referred to, will have two homes: one where they’ll spend the warmer months of the year, and one where they spend the cold months. If a community seems like it’s vacant when visiting for the first time, it may be because some of the residents are spending time in another home. When visiting an age-restricted community, be sure to ask what portion of residents are seasonal to get a better idea of how busy the community is when everyone is there.

Communities with Lots of Amenities Have Higher HOA Fees

Another reason people love age-restricted communities is because they usually offer a variety of different amenities to the residents. From pools to exercise equipment to tennis courts to walking trails, the amenities a community provides will differ depending on the community. It’s also important to note that communities with a lot of different amenities will often require higher Homeowners Association fees. Prospective residents need to ask about how much the HOA fees are and how often they’re due at every community they visit. HOA fees can often make or break if someone can afford to live in a community.

All Age-Restricted Communities are Different

Some people are drawn to age-restricted communities because they can sometimes offer a more targeted experience, such as a community for people who are golf enthusiasts primarily offering a golf course as their star amenity. If a buyer is looking for a specific type of community, there may be one out there that meets their needs. But if a buyer is looking for a more general community, they need to look to make sure it offers the sort of amenities they’re looking for so they don’t accidentally end up in a community that it trying to cater to a specific demographic that they aren’t part of.

An age-restricted community can be a great place to live for interested buyers who are ready for that sort of lifestyle shift. Before fully committing to moving into one of these communities, buyers need to be sure to read all the information pamphlets and fine print to ensure that they’re moving into a community that truly fits them.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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