Barbara did a great job of creating a list of reasons why the 55+ age group purchase in active adult communities.
Why do many of the 55+ age group decide to move to an Active Adult Community? My team and I have three active adult communities to market. We always have this conversation with the buyers before they close. The reasons are many and here are a few of them:
•1. It's time to downsize. The children are on their own, and the seniors don't need all of that room and their costs (taxes, ins., etc.) would be reduced.
•2. The cost of heating and cooling a large home is beyond what they want to spend. They are heating and cooling space that is never used.
•3. The cost and effort needed to maintain the grounds in the summer and plowing in the winter months are management intense.
•4. Their existing home is in need of updating/repairs and they don't want to be bothered with shopping for the best deal and then living with the remodeling mess.
•5. It's time to enjoy life. They want to devote their extra time to traveling and playing.
•6. They want to live in a new home with their own selections of décor. That's exciting for this age group because most of them have never built a new home. Many think ahead and incorporate handicapped accessibility during construction. The hallways and doorways are made wider and one handicapped bathroom is installed.
•7. They also love the idea of living around people of their own age group. They have a lot in common, and they make friends very easily with each other. Some of them eventually travel together.
8. The most important feature is the first floor master bedroom suite for total convenience. Even if the condo is a two story unit, the master bedroom is always on the first floor. Ranch style units are very desirable, but they are priced higher because of their increased cost to build.
In our area, very few of the active adult communities have clubhouses, swimming pools or other on site activities. Our communities range in numbers from 25 to 60 units. They are small subdivisions compared to what one finds in a resort area, but the basic function of this type of concept is to provide a reasonably priced, practically sized new home or condo for an active age group.
It enables them to retire in the company of others their own age. It enables them to feel safe and secure in the future, should a spouse pass away. There are many adult condos purchased by single males and females. It's a wonderful zoning concept, and I feel there will continually be a need for this type of housing. The Baby Boomers are in their infancy stage of making this move.
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