IS A 55+ COMMUNITY RIGHT FOR YOU?
Kiplinger's Personal Finance|December 2024
These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.
ROBYN A. FRIEDMAN
IS A 55+ COMMUNITY RIGHT FOR YOU?

Thinking about moving to a 55+ community? Once limited to the Sun Belt, these developments, designed for people 55 and older, can now be found throughout the nation, from Washington State to Texas, Virginia, the Carolinas and the Northeast. And more of them are popping up.

Marilyn Burke, 60, and her husband, Martin Burke, 66, sold their five-bedroom home in Silicon Valley and purchased a three-bedroom contemporary in Cresswind Wesley Chapel, a 55+ community in Monroe, N.C. The couple closed in November 2022, paying $745,500. Now, they fill their days with trivia contests, happy hours, community concerts, pickleball and mah-jongg games. “We wanted a community that had activities because we were moving somewhere where we knew no one,” says Marilyn. “We’ve met so many people from different walks of life, but with similar interests, and all from our same age group.”

THE PROS AND CONS

Like the Burkes, many older adults are drawn to 55+ communities because they want to live an active lifestyle—playing tennis or pickleball, meeting friends for coffee, joining clubs, attending educational or cultural activities, and more—and they want to have plenty of amenities at their fingertips. "They're seeking the ability to host family and friends, explore hobbies, and maybe get into a sport they always wanted to play," says Karl Mistry, executive vice president of Toll Brothers, a luxury builder that constructs 55+ communities under the brand name Regency. "These are active communities. The clubhouses and fitness centers are always busy."

Many builders create developments that are akin to country clubs, with large and glitzy clubhouses, full-time lifestyle directors, on-site entertainment, and dining venues.

These facilities make it easy to meet new friends, socialize, get exercise, and avoid the isolation and loneliness that older adults often face.

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Diese Geschichte stammt aus der December 2024-Ausgabe von Kiplinger's Personal Finance.

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