Should You Buy A Home In A Senior Community?

buying a home in senior community

Should You Buy A Home In A Senior Community?

Posted on December 20, 2023 by Great Florida Homes

Florida is a premier destination for retirees who are looking to escape from colder weather, meet fellow retirees who share their interests and activity levels, and avoid paying retirement taxes. In fact, 21% of Floridians are senior citizens, which is the highest percentage in the nation.

If you’re a senior looking to move to Florida, you’ve probably considered one of the sprawling retirement communities scattered throughout the state. It’s a major decision that will have a profound impact on your retirement and affect your home options, so it’s crucial that you know whether a senior community is right for you.

Keep reading to learn more about Florida’s retirement communities and how Great Florida Homes can help you find your ideal retirement property in South Florida.

The Pros of Moving To a Retirement Community

Not to be confused with a retirement home, a retirement community is an independent, social, and low-stress housing option that comes with a number of benefits that specifically appeal to seniors.

Lower Home Prices

Most senior communities have a minimum age that you must be to be eligible to live in them. As a result, the buyer pool is much smaller because many don’t meet this requirement, leading to less competition for the home you want. Along with the help of an experienced real estate agent, you’ll find great deals in 55+ communities.

More Age-Appropriate Activities

Whether you act your age or believe it’s just a number, senior communities generally offer a wide range of different activities for every level of mobility and all types of interests. Pool workouts, tennis leagues, golf tournaments, darts, and shuffleboard are just a few activities that you could find in a senior community clubhouse. Plus, they’re easy to join and don’t usually require much travel to participate.

Minimal Maintenance Required

Retirement means more time spent on things you want to do, not worrying about physically demanding tasks like lawn care. Some communities include general maintenance, landscaping, and other protection like roof upkeep or home painting services as part of their HOA fees, making it simple for you to get help when you need it.

Better Sense of Security

The last thing you should worry about in your home is your safety. Fortunately, many 55+ communities include gates, fences, or security teams who help prevent problems from arising. They may also restrict who can enter, meaning less traffic and safer streets for playing with grandchildren or pets.

The Cons of Moving Into a Retirement Community

A retirement community is a great choice for many retirees, but they do come with some drawbacks.

Harder To Sell Your Home

While the reduced buyer pool is a positive for buyers, it also makes selling your home harder. If you need to sell your home in a hurry to move in with family or assisted living facilities, you may have a hard time selling your home.

Community Costs Can Get Expensive

HOAs are a double-edged sword. They help make it easier to deal with day-to-day issues that arise, but you also have to pay for the convenience. HOA fees must be considered before buying your home to ensure that you can afford these often-required costs.
More Rules To Follow

Unlike living in an unregulated community, many 55+ communities require you to follow their rules. You may be limited on what you can put in your yard, what pets you can have, where you can park, and what changes can be made to your home without approval.

Find Your Ideal Retirement Property With Great Florida Homes

Moving to South Florida is a dream for many retirees. The beautiful weather makes it a great place to live year-round and a vacation destination that means your family will want to visit more often. However, before becoming a South Floridian, you’ll need to decide where you want to live – and Great Florida Homes can help.

Contact us today to speak with an agent who will help you evaluate your options and find the right property and community for you.