If you’ve been paying attention to the housing market lately, you may have noticed some intriguing 55+ active communities popping up. They are a relatively new wave of communities that are being constructed in many places all over the country. But what exactly are they? How are they designed, and what makes them different from other types of ‘elderly’ housing?
What is an active 55+ community? A 55+ active community is specially designed for those 55 and older who are still wanting to experience the most out of life. These laid-back communities typically offer plenty of fun amenities for the community in a retirement-friendly and low-maintenance lifestyle.
Anyone who is looking to relax and retire might wonder what exactly a 55+ active community is. This article will discuss what a 55+ active community is, what types of amenities are available, and the pros and cons of choosing this type of community for your retirement.
What is an Active 55+ Community?
So, what exactly is a 55+ active community? 55+ active communities are designed for people at least 55 years of age who are still active and would rather enjoy their days in a community of their peers. It’s for the older folks who don’t need a nursing home and still want to enjoy all types of fun activities and make new friends in the process.
For the most part, many 55+ active communities will be comprised of single-story family homes. These homes are typically bought either outright or with a mortgage by the future owner. Some 55+ active communities might be designed with multi-family structures such as condos or townhomes, but even multi-family housing is usually purchased instead of rented.
There are various types of 55+ communities that are available, as revealed by “55+ Senior Living Community.” Some 55+ communities that you can choose from include:
- Luxury communities – Much more expensive but offer a large variety of services and amenities
- College town communities – A fast-growing type of 55+ community that caters to those who work or take classes at universities
- RV park retirement communities – A more free-spirited kind of community that allows residents to stay as long as they would like
- Golf (and other resort) communities – Offer a vacation-like experience for individuals who want to live it up every day
- Religion-specific communities – 55+ communities that cater to individuals that have the same faith base
- Active senior communities – Designed for those who are 55+ and want to keep active lifestyles; they have access to activities like hiking, biking, swimming, golf, and more
- Singles communities – Specially designed for seniors who are single and would like to live in a community with other singles
- Gated communities – Offers the same basic amenities as other 55+ communities, but includes more privacy and security
One of the significant bonuses to choosing a 55+ community to retire is they are almost always built around fun community activities such as shopping, restaurants, parks, and golf courses. This allows more active seniors to get out and enjoy the town without having to drive too far or spend too much money on transportation. Sometimes, you can even walk!
Perhaps the biggest bonus to choosing a 55+ community, aside from the premiere location, is the fact that these communities pride themselves on giving active elderly folks a low-maintenance place to live. The exterior of the home will likely be covered by an HOA, which means you won’t have to worry about keeping up with your lawn or gardening.
The HOA can also cover a wide range of other features, as explained by” Active Adult Communities: What are they?.” Some of the features that may be included in your HOA, or offered at a discounted price include:
- Garbage Collection
- Maintenance
- Security
- Cable
- Satellite TV
- Internet
- Shuttle Buses
All these features make it easy for the active senior to surf the internet, take a quick bus ride to the nearest restaurant for Friday night date night, or call maintenance when something seems to have gone haywire with their toilet.
Amenities of a 55+ Active Community
Being in an area that generally only allows people aged 55 and older to live in means that the community is specifically designed for active older people. In these communities, you will find several amenities that appeal to an active senior, such as:
- Clubhouses
- Exercise Facilities
- Pools (Indoor or Outdoor)
- Hobby Clubs
- Craft Clubs
- Golf Courses
- Marinas
- Tennis Courts
- Restaurants
- Entertainment (Such as Movie Theaters or Bingo Halls)
- Walking Trails
- Billiards/Cards Rooms
- Libraries
- Lakes for Fishing
These are just some of the amenities that can be provided by a 55+ active community. Most communities will also have on-site maintenance and security. Some may also offer some small healthcare facilities, but this is more of a rarity.
Keep in mind that every 55+ active community is different and will provide varying amenities. When you go to take a tour of the area, make sure that you get a list of all that the community has to offer their active seniors.
How Much does 55+ Active Community Housing Cost?
The actual cost of this type of community is going to differ for plenty of reasons. Things such as location, the number of amenities offered, and what kind and size of housing is available will all play a role in how much you will have to spend. Some of the more luxurious 55+ active communities can be more expensive than a home.
On average, though, people aged 55 and older who are considering moving to this type of community will save money by spending less on their home purchase. This is good news for the retired folks who aren’t looking to pay another high mortgage on their home and would rather spend more time relaxing and doing things they love.
“Tips For Buying Into a 55 and Over Retirement Community,” by Bill Gassett has some great advice on how to choose and purchase a home or townhome in a 55+ active community. There is much more to consider than just the initial home cost, so it will be in your best interest to research many communities before making your decision.
Some of the questions to consider when looking at purchasing a home in a 55+ community are:
- When is the right time to buy?
- What is required to purchase the home?
- How much is the cost of living in the community?
- Do you understand the finances you have available?
What About Renting?
For the most part, 55+ active communities do not advertise renting their homes or townhomes. Most of these communities will only offer their homes for purchase. This is a better option, though, since it’s always a better idea to put your hard-earned money into paying off a home, especially when you are retiring.
This doesn’t mean it is impossible to rent homes in 55+ communities, though. While the bulk of these communities are only selling their properties, it’s not unheard of to see ‘for rent’ signs out front. This will likely be done by the person who originally bought the property and isn’t living there anymore, instead of by the community manager themselves.
However, it’s essential to keep in mind that regulations will always be involved when it comes to renting in a 55+ active community. Some communities are stricter about renting out the homes than others. Some communities may have a policy in place that denies the opportunity to rent their structures, while others may start with a buy or rent option.
Why Does This Information Matter?
If you are 55 or older and looking to retire soon, then you are likely trying to find the best option for housing in your active senior years. There are many options for retirement, but knowing the facts about a 55+ active community may be enough to help you take the plunge and purchase a home or condo.
Young families likely will not be able to live in this type of community. There are some 55+ communities that allow for a young person to live with their elders if the senior oversees the individual, but for the most part, there are strict guidelines on who can and cannot move in.
This is because the communities are trying to cater to the wants and needs of retiring older individuals who still want to experience life to the fullest. Therefore, they provide a wide range of activities and clubs while being centrally located. With people only 55 and older inhabiting the area, the grounds are kept quieter and more relaxed than communities with young families.
Pros and Cons of 55+ Active Communities
To an active senior who is looking for a relaxed community that is jam-packed with exciting activities and clubs, the 55+ active community sounds like a dream come true. But before you make a purchase, you should look over the pros and cons of 55+ active communities.
The Pros of a 55+ Active Community
- They are restricted to older and active individuals.
One of the major benefits of opting for a 55+ active community is that they are made just for you. You won’t be surrounded by kids and teenagers who can make tons of noise, and you are not stuck in a nursing home or another type of retirement community that lacks your own space and activities.
- You can make new friends easily.
The good news about living in a 55+ active community is that it’s easier than ever to make friends. Since everyone is around the same age with the same goal in mind – to enjoy their retirement to the fullest – it’s easy to make tons of new friends, even in your first few weeks of moving in.
You will have many things in common with your surrounding neighbors, and with so many different clubs and activities to engage in, you can easily find someone who shares your interests. This builds everlasting friendships, and the best part is they live nearby so you can see each other as often as you would like.
- Homes are low maintenance.
55+ active communities know that retired individuals – even those who are active and want to experience even more fun times – don’t want to hassle with a lawn. These types of communities pride themselves on making their homes or condos extremely low maintenance. The structures are more than likely to be one-story constructions, so you don’t have to deal with stairs. The outside will either be void of a lawn, or there will be a crew that cares for your lawn, which is included in the monthly HOA fee.
- There are so many great amenities.
Remember that every 55+ active community is going to have its own set of amenities, so it is necessary to check with the manager when you visit the location. However, you can rest assured that these communities are going to have some types of amenities to choose from.
Most of the time, there will also be clubs within the community that are either arranged by the manager or put together by a resident. That is another excellent thing about 55+ active communities – you can start up fun clubs and programs that cater to people your age, and you are sure to get a response since everyone around you is in the same phase in life.
- These communities are typically centrally located.
Being ‘close to the action’ is an advantage for active seniors. This makes it easier to hop a bus downtown and enjoy your favorite restaurant or see a movie (even though some communities offer restaurants and cinemas inside of the complex). Some communities may also provide special shuttle buses or other transportation to get you to the shops quickly.
- They are likely to be cheaper.
For many 55+ active communities, the goal is to help active seniors have a chance to put their steep mortgage bill behind them and enjoy an area that is cheaper and more exciting to live in. Many times, the homes and townhomes will be less expensive than anything you might find on the market.
The Cons of 55+ Active Communities
- You won’t be able to rent out your home, and if you are allowed to rent your home, renters are limited.
Some people think about buying one of these homes as an investment property, and, sometimes, that’s fine. However, some communities have rules regulating rent. Even if the community does allow rentals in the complex, you will have a limited number of people to rent to as young families won’t be eligible.
- There is no special care provided.
As mentioned earlier, it is a rarity to have any medical care in a 55+ active community. This is because people in these communities are supposed to be active and in good health. If you need assisted living or any healthcare services to live successfully, you won’t find help within your HOA.
This doesn’t mean that you can’t bring someone onsite, though. You can always arrange for someone to come into your home and help take care of you if needed. Some communities like these will have contract arrangements with homecare providers so they can help their residents live their best lives.
- These communities are age-restricted.
Now, many residents see this as a fantastic quality. The community is quieter, and everyone is around the same age, which means mutual interests and similar lifestyles – such as kids being grown, being retired from their jobs, or just wanting to take it easy and play a game of billiards.
However, age restrictions might not be a plus for some individuals. Being around the same age group might have a negative impact as you no longer see young families growing up around you. It may seem like a depressing aspect to some, and that is something to keep in mind before moving in.
- Luxurious communities can be pricey.
Top-of-the-line 55+ active communities with elegant homes and a tremendous list of amenities can be pricey. Some of them can be even more expensive than regular homes in the area. This is something to look out for when shopping in a community such as this.
Even if you are not in a luxurious community, you will still have to worry about HOA fees. This means another payment that comes out of your pocket once a month, and some residents don’t want to pay that. After all, you are likely looking to reduce your bills as you get older, and this type of fee can be a nuisance and a set-back for some.
As you can see, there are several pros and cons to living in a 55+ active community. Each of these things should be considered when choosing whether to join a community such as this. It’s clear, though, that the advantages outweigh the disadvantages, and a 55+ active community is an excellent idea for you in your active senior life.
Conclusion
55+ active communities are uniquely designed communities, specifically for those aged 55 and older who still want to experience the most out of life. These homes or town-homes are usually cheaper and lower maintenance than other homes on the market and come with several amenities that cater to the age group. These communities are also typically centrally located, so seniors can still enjoy shopping, dining out, and entertainment with ease.
