For many Americans, retirement age is fast approaching or already here: Baby Boomers account for nearly 75 million individuals in the United States.
Retirement can present a lot of opportunities, especially when it comes to relaxation, activities, and the enjoyment of life with those of a similar age. More and more Americans are looking to 55+ communities to fulfill those wants and needs.
Active Adult Communities
55+ communities, also known as an active adult or age-restricted communities, are becoming increasingly popular throughout the U.S. because of what they offer and can provide. Traditionally thought to be only in warmer climates, active adult communities can be found in almost every state, and with more people retiring, new communities are being added every year.
Just like buying in a regular neighborhood or a master-planned community, there are a number of things to know or understand when it comes to investing in an active adult community and lifestyle. If you’re considering selling your current home and relocating to a 55+ community, here are some important things to consider before the big move.
Location
Location is an important consideration. Active adult communities can be found all throughout the U.S. While Florida and Arizona are known for their 55+ communities, it’s very likely there’s a community close to where you currently live.
Location is more than just where the community is located – location includes the proximity to towns or cities. Some may want a community that is cut off from large cities; others may want to be close to large metropolitan areas for what they can offer.
Location also includes things like local taxes – some states are much friendlier to retirees than others when it comes to taxes.
It’s also important to note the community’s location relative to an international airport if you plan on traveling a lot, medical centers, and other amenities that may be frequented daily or weekly.
Size
The size of the community is an important part of the community experience for residents. Communities will range in size, from just a couple hundred residents to thousands. The larger the community, the more residents.
Larger communities may offer more activities and amenities while smaller ones may be able to offer more comfort and relaxation with the reduced number of residents. If you’re interested in maintaining an active lifestyle and making fri