Baby Boomers and Beyond: Age-Restricted Communities - Right for You or Not?

As a real estate consultant, one of the important things I must understand are the issues that face a particular target market that I am working with, so that I can better assist those clients. One of these markets is those individuals who are considering a move into an age-restricted community (also known at 55+ or active seniors, depending on region of the country).If you are one of these readers, this article is about the issues you might consider as part of your decision to move into such a community. I will also share some information about a terrific community here in Southern California where I recently helped some clients move in after their relocation from Scottsdale, AZ.

It is not uncommon for Baby Boomers and those beyond that generation to consider moving to a smaller home. So often this occurs when they have reached a time in their lives when they wish to downsize and simplify their lifestyle. They may be retired, or nearly so, and if they had children they are likely out of the house. Baby Boomers and others might decide to relocate so they can be near children and grandchildren, or live in a warmer climate such as San Diego where they can spend their time golfing year-round. One of the options that some people choose is a 55+ community - an association of homes of perhaps varying styles and sizes, where the requirement is that one or possibly both (or all) members of the household are at least 55 years of age.

Age restricted communities can provide a particular lifestyle that appeals to those who no longer wish to deal with a large home, and prefer to not handle the maintenance issues. These communities may vary in terms of the regulations about how the 55+ age requirement is met. They may require that only one member be 55 or older, but in other cases all residents in the property would need to meet the age limit. You may also find some large associations where part of the subdivision is reserved for this age group, whereas others are completely self-contained and gated communities.