The Perfect Fit

More and more people are reaching retirement with their health, financial stability and a new perspective on aging. For many in this group, a home or condominium in an active adult community is the ideal setting.

The benefits of these communities include property management, social activities, being surrounded by peers and more. When looking to buy in a “55 and over” or similar style development the key to making a good purchase is research and comparison shopping. Each development is different and you want to choose the one that is right for you.

Here are several things to consider.

• In addition to asking price, inquire about related fees. There will likely be an association fee for services such as maintenance and snow removal. Other potential expenses include pool costs, clubhouse fees, and the like.
• Ask about penalties. Some associations charge if you sell the unit or home before a certain date. That timeline and related consequences are usually outlined in the contract.
• Investigate social outlets in the community and the surrounding area. Read the association newsletter and get a feel for what kind of clubs and gatherings are offered. Inquire about other opportunities, like area golf courses, lakes and beaches. Look for a community that has amenities that match your interests.
• Ask what type of medical provisions are available. Some developments have emergency call systems. See if rates increase as the need for assistance rises.
• Besides a vibrant development, you want to buy in a town or city that is strong and appealing. What does the area downtown have to offer? What is the local tax rate? Are there projects on the horizon that could boost taxes in the future?
• Finally, consider your proximity to loved ones. It can be a key factor in your decision.