Many homeowners in the retirement phase of life have mixed feelings about moving out of their homes. It can be liberating to get away from the responsibilities of owning and maintaining a big, older house. But, it’s hard to give up the place where you’ve raised a family and watched your life develop.
Buying a home in a fantastic retirement community can add a rich texture to your days, as long as you choose a good fit. This choice of homeownership comes with many benefits, including on-site maintenance, close-knit relationships, age-appropriate activities, etc… With these five tips, you can be sure you’ll experience all of the benefits homeownership within a retirement community has to offer:
5 Tips for Buying a Home in a Retirement Community
1) Take a Tour
Will the space suit you? Is there enough room to fit the items you plan to bring along? Think about how you plan to spend your days. If you like to walk, garden, play cards or plan parties, be sure that the grounds and the building layout offer opportunities for these activities. Look for community areas, outdoor amenities, and above all, be sure that maintenance and landscaping is in tip-top shape. Out of order signs and overgrown grass are an indication of underlying issues with management that are bound to cause you headaches.
2) Safety & Security
Feeling safe in your home is critical to your happiness and peace of mind. Take note of security features like emergency call posts, security guards, and in-unit alarm/panic systems. Make sure that the safety equipment is installed and in-service. There should also be access to fire extinguishers, and all the smoke alarms should be in working order.
3) Cost Considerations
Can you comfortably afford the monthly payment required? Have you read the fine print to be sure you understand what is included? Are any association fees and dues affordable on your retirement income? How are increases in monthly payments are handled? Who makes the decision and under what circumstances? Request a history of costs for the past ten years, so you can spot trends. Don’t get caught off guard by unexpected fees that can make a serious dent in your savings. Demand full disclosure right up front.
4) Management Style
Who manages the community, and what is their reputation? Speak with other residents and check online reviews to ensure they are fair, responsive and dependable. Ask how complaints are handled and what the process is for making suggestions. Determine whether current residents participate in any sort of organized board or association.
5) Location, Location, Location
Any real estate agent will tell you that this is the number one rule in real estate… location, location, location. If you are used to city living, there’s no need to switch to country life, and vice versa. Choose a retirement community located in an environment where you feel comfortable. Consider the availability of public transportation, shopping, and places you go regularly (IE, church, volunteering, social groups, doctors, etc…). Make sure that the retirement community you are considering is not too far from friends and family that you want to see frequently.
Choose the Right Retirement Community for You
While you can certainly move to another facility if your first choice of retirement community doesn’t turn out to be a good fit. But, the disruption of packing, unpacking, and getting acclimated to a new place is no fun. Making a great match the first time will save you time, money and frustration. With these five tips, you are sure to select just the right spot for a new and happy home in a retirement community you’ll love for life.
Vickie Nagy is a San Ramon CA Realtor who has many great articles on her website. You can view those articles as well as search Pleasanton CA real estate, Blackhawk CA real estate, and Livermore CA real estate by visiting her website.
