What is a 55+ community? It seems self-explanatory but there are a lot of reasons why they exist and how they are managed. It is as it says, 55 years of age and up are allowed to live in these communities. These have been created to put together those of retirement age that are more likely to have common interests and desires in a neighborhood at this stage of life.
This also provides options to this age bracket where they can find more affordable housing. The desired community has all of its resident’s needs in mind. Most of these communities are close to hospitals, shopping, dining, and local attractions. Most retirees like the security that a community provides, whether it’s a gated neighborhood or on-site security patrols.
What is a 55+ community?
These communities have regulations that are specific and differ from other housing communities. Most adult communities have boards and board members that help keep regulations. Each community can come up with its own bylaws, but there are many that are common. These are as follows:
- Number of occupants
- Amenity access for nonresidents
- Home customization restrictions
- Pet/livestock restrictions
- Visitors and overnight stays
- People who are not yet 55 or older are also allowed to live in these communities provided their spouse is at least 55. Many communities require at least 80% of the housing to be occupied by 55+ owners or renters, with up to 20% only required to be 50 years or older.
These bylaws are always defined in a detailed manner within the community handbook that you receive when purchasing a home in one of these communities.
Most 55+ communities offer amenities to those that are residents. You can usually find a fitness center, tennis courts, walking trails, swimming pools, clubhouses, and community centers. Some communities even offer lawn maintenance which can be extremely enticing to someone retired who wants to travel and not worry about home maintenance. In addition, many of these communities host events for all kinds of interests, and even some for children as grandchildren can visit these communities.
The bylaws and regulations will differ from community to community so be sure to do your own research. Just remember that you can always reach out to your real estate agent to help answer any questions you may have before purchasing in a 55+ community.