Q: Our children are grown and our grandchildren are young adults. We have over 3,500 sq ft in our current home, and are considering scaling back quite a bit. We are considering a 55+ type community but, don’t know much about them.
A: There are many different types of 55+ communities. Some are exclusively 55+ with no one under that age permitted to live in the development. Others allow a related individual, over the age of 18, to live on premises with the owner occupant that is 55+. Your lot will be smaller than one in a typical subdivision, think patio home, or zero lot line, and many times the landscaping is included in your HOA dues. Floor plans are a little smaller, with fewer steps, and most rooms on the main level. The price of these homes are often times a little less than a traditional subdivision, but you can expect a moderate HOA fee monthly. Many 55+ communities have an extensive social network and a long list of regular activities. Things you will typically see are walking trails, a clubhouse, fitness center and swimming pool. It is a wonderful opportunity to live a full, independent life, yet have less upkeep on a home.