Quick Answer: Why Do 55+ Communities Exist?

What is an active 55 community?

As you are exploring your senior living options, you may have looked at what is referred to as an “active adult community.” These are 55 and over “age-restricted” or “age-qualified” communities, typically meaning that someone in the residence must be at least 55 years old..

How can I live in a 55 community under 55?

When looking at most 55+ community requirements, there are two standard rules. The first says that each household must have a resident who is 55 years of age or older. The second of the 55+ community rules pertains to the remaining members of the household—spouses, partners, and children.

What does no Hopa mean?

HOPA = Housing Older Persons Act (HOPA) which means is it an an age restricted community where owners MUST be 55 (or 62) and older.

What are the benefits of a 55+ community?

Top 7 Benefits of Retirement CommunitiesEncourages a Low Maintenance Lifestyle. From raking leaves to washing clothes, there’s always something that needs to be done when living at home. … Offers Personal Care Options. … Ensures Safety & Security. … Supports Healthy Senior Living. … Provides Transportation Services. … Promotes Socialization. … Focuses On Nutrition.

Can you live in a 55 community if you are younger?

So, it will be a relief to know that yes, household members who are younger than 55 can live in a 55-plus community. … At least 80 percent of the occupied units include one resident age 55 or older and the community shows an intent to provide housing for those 55 and up.

Are 55 plus communities a good investment?

The Pros of Investing in Retirement Homes in Senior Communities. There are several positives of buying a retirement home as an investment property. … Desirable Areas: The first perk of investing in an over 55 community is the weather. These homes are typically located in warmer climates, such as Florida or California.

Can grandchildren visit 55+ communities?

So that brings us to the big question: Are grandkids allowed in 55+ housing? The short answer is yes, but generally for visiting only. … Under the Housing for Older Persons Act (HOPA), no one under the age of 62 can live in a 62+ community.

What should I look for in 55+ communities?

6 Things to Look for in a 55+ CommunitySize of Community. When it comes to size, selecting the right 55 and older community for you is kind of like choosing a college campus. … Age Range and Restrictions. … Amenities and Lifestyle. … Close and Quality Healthcare. … HOA Fees. … The Right Home (of course)

Is it better for retirees to rent or own?

Ideally, you would not spend more than 15% of your annual income on housing, if renting. That percentage can be closer to 25% if you are owning, especially if your mortgage will be paid off during the earlier years of your retirement. … The shorter your time frame, the more likely you should rent.

How do you buy a 55+ community?

Tips for Buying in a 55 and Over Retirement CommunityDecide on a condo or a house. … Get a real estate attorney. … Find out minimum age and who can stay over. … Look at several options. … Rent for a while. … Pay attention to details. … Understand the focus. … Look at the surroundings.

What does Hopa stand for?

Housing for Older Persons Act of 1995the Housing for Older Persons Act of 1995 (HOPA) The Housing for Older Persons Act (HOPA), signed into law by President Clinton on December 28, 1995, amended the housing for older persons exemption against familial status discrimination.

In order to be able to restrict sale or rental of a property to seniors in California, the resident must be 62 years of age or older, or 55 years of age or older in a senior citizen housing development. … In California, all the units in a dwelling, rather than just 80% of units, must house seniors.

Is 55 community a discrimination?

The answer: a carve-out in the federal Fair Housing Act, which prohibits discrimination based on age and other things, allowed for 55-and-older retirement communities.

Where are the best 55 communities?

Best 55+ community rankings releasedOn Top of the World – Ocala, FL.Sun City Texas – Georgetown, TX.Sun City Hilton Head – Bluffton, SC.Sun City Anthem – Henderson, NV.Solivita – Kissimmee, FL.Pelican Preserve – Fort Myers, FL.Del Webb Ponte Vedra – Ponte Vedra, FL.Sun City West – Sun City West, FL.More items…•

Should I live in a 55+ community?

Pros of living in a 55+ retirement community Low maintenance – 55+ retirement communities offer homes with easy maintenance. Cutting grass and trimming shrubs is no longer a chore you have to do. Making friends – It’s often easier for retirees to make friends when living in a community with people the same age.