Buying a retirement home in a specialized community

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Option: You’ve decided that the time is right to buy a home in an active-adult/retirement community.

As boomers grow older, the number of housing developments and planned housing communities designed for adults over fifty is increasing. But all communities may not be equally suited to your needs.

When deciding on a retirement community, make a list of what you are looking for and then prioritize it. Here's a sample of things to consider:

• Do you want to stay in your current area? If not, where do you want to go? A coastal community, desert community, north, south, east, or west?
• Do you want to be close to family members?
• What activities and facilities does the community have?
• What type of housing is available? Single homes, condominiums, apartments? Single or multi-story?
• Do the available floor plans meet your needs?
• What kind of services are available? Lawn maintenance, house maintenance, personal assistance?
• Close to medical facilities?
• Are restaurants close by or are meals available?
  

SeniorResource.com has several good retirement community shopping articles that can help you educate yourself about these housing options. We highlight Shopping List Priorities and Are Floorplans in Your Planning.

This article from Money.com describes items to consider when looking to Find your ideal place to retire.

Renting is also an option as this article from RealEstateJournal indicates: Active Seniors Trigger New Housing Market.

Prepared for Corning Credit Union by Remar Sutton & Associates, May 2005. Reviewed and updated November 2007. All rights reserved.