55+ Communities - What You Should Know...


As more and more of America's Baby Boomers reach retirement age, 55+ Communities  -  also known as retirement or active adult communities  -  are an increasingly popular living choice. Typically, such communities are "age-qualified," with 80% of households having at least one member over 55. Many are larger, planned communities that offer a great variety of activities, from social clubs, to exercise facilities, to golf courses.  They can be condominium apartments, townhomes, attached villas, single-family homes, or have a mix of housing styles.

Fortune Magazine recently compared homes in age-restricted active adult and retirement community to those in the rest of the market.  Their discoveries were interesting.  "It is a common understanding among most agents that real estate values have held up better in active adult communities than in other non-age-restricted communities." 

The reason for the discrepancy can be largely attributed to the lack of foreclosures in age-restricted communities.  This is because many homeowners in active adult comunities have substantial equity and minimal mortgages.  The limited number of homeowners with mortgages means there are not as many foreclosures, which translates into a more stable market. 

Brevard County has many 55+ communities from which to choose. While there are some similarites, each community has its own unique mix of features and amenities, and its own style.  And with many mature home buyers expressing the hope this will be the last home they buy, it's important to shop around for the best fit.

This article brought to you by -
Joyce Wilden for Indian River Colony Club

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