Avoid Living In A 55 Plus Community - Problems In Adult Retirement Communities - Don’t Buy 55+
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- Опубліковано 28 кві 2024
- Many people want to downsize their homes when they get older. But, not everyone is cut out to live in a condo. So people looks to 55 plus communities as a happy medium. But, these communities come with their own set of problems. The search for senior living options can be difficult. The research you do the better off you will be. The point of this video is not to say that 55 plus neighborhoods are a bad idea. For some, they may be the perfect decision. I just want to bring up some points for people to think about while they are in the decision making process.
as someone on social security, but still able to maintain my own property: everything I see about "55+ communities" is the selfishness I see in the lifestyle. I get it. We all worked "all our lives" to have the fun-life expected by all Americans these days. I see videos on youtube from the more popular locations, and I don't even want to drive through there. I hear about all sorts of "clubs"...except those that look at serving others. I have no desire to live 600+ miles away from my family, my grandchildren. And certainly, I have no interest in the lifestyle exhibited by what I see from the videos. I was once a teenager. Not something I need to do again. Thank you for your video. I cannot imagine moving away from a paid-for home (especially in these times!), people I've known and loved for years. I've never understood the mentality.
As my wife and I are looking for places to move she keeps saying, "you have to love space and the place". Meaning it isn't just the house you live in but you have to love where you live too.
I visit a friend that lives in a 55+ condo and you get the vibe that your in a nursing home. Most of the people there are women and are 75+.
Yea, I did see a statistic that there are like 4 women to every man in most communities. And I think most seniors don't think about this option until they realize their current house is too big. And this age is probably around 75.
With no kids in the neighborhood to yell at, they can only turn on each other.
Oh man... that is a good point. Just keep your head down.
You can't yell at some little snowflakes without having to punch out mama Karen.😂😂
In my opinion HOA's have one prime directive: maintaining property value. They will lawyer-up to stop nearby new construction or municipal projects deemed to have a detrimental effect on home values. We have an old high school being torn down and several of the HOA developments are working to rezone the land into park and recreational use. This was after the state approved a grant for middle income housing - including demolishing the old building. I imagine there was a "special assessment" people were forced to pay to fund this legal war. Some of these were 55+ communities. Just the fact you could get sucked into something for something like this is a turn-off for me.
HOAs are a total deal killer for me. If your going to tell me what I can and cant do with my property I paid for myself and pay the taxes on, then you should at least, and I mean at the very least, pay my taxes, then we can discuss, otherwise kick rocks!
I'm not an HOA guy either. It's a big reason that none of my investment properties are condos. I don't like people telling me what to do, and I don't like unexpected costs.
There is no cap and that is shameful
Never never never get into an HOA! They can control everything you do to your property even the flowers you grow. Ohh I’m serious.
Yes, they do. The one I keep referring to in this video has rules about what you can grow in your yard.
Here's on thing that was missed in the video. New construction communities with HOA's have artificially low HOA fees to begin with. After most or all of the housing is sold, expect the fees to triple or quadruple withing five to ten years.
That is interesting. Not something I was aware of. Thanks for the comment.
Very good video. I was doing research into Leisure World in California. Too many drawbacks. HOA fees run close to $500 per month. And to get accepted into the HOA is a one time fee of $5,000 per person. A man and wife would have to pay $10,000.
Property taxes are separate and not part of the monthly HOA fee. If a resident becomes ill and needs constant care, you can't have a live-in caregiver. In addition, LW was built in 1962 and the homes look out-dated and old. No thanks, I'll pass on LW.
Yea, that's a big hit upfront. I'm looking at retiring in Spain and they hit you with a 10% tax on real estate up front, but then you pay almost nothing for real estate tax and home owners insurance. But, they will hit your income hard. There are pros and cons everywhere, just have to figure out what works for you. I hope you find a great solution.
If I were making this video, I think I would separate the two issues: (1) HOAs and (2) 55+ Communities. Buyers often are stuck with all the rules of an HOA when they buy a house period. A 55+ Community probably adds more rules and restrictions. One nice thing about an HOA is that they can keep investment firms from buying up the houses and turning them into rentals. I haven’t researched this point but understand that federal law prohibits HOAs from prohibiting the placement of a TV antenna on the roof of a house.
When I was 37, I rented a room in a trailer in an over 55 community. It had a clubhouse and swimming pool which was never used. I made use of the swimming pool, and the free library in the clubhouse. Technically, I shouldn't have been there, but nobody said anything. This was in Seattle, in the late 90s.
How about now that you're over 55?
Would you want to be in one again?
@@TheRetirementality - actually, I wouldn't mind it at all. I'd just do my socializing elsewhere.
Thank you so helpful. I will not be buying into a 55+ community.
There is a lot to consider.
Our good friends in Mesa, Arizona live in a beautiful 55+ golf community. A lot of those same rules that you talked about apply there but what I love about their life and their neighborhood as they have lots of friends, lots of activities and lots of travel buddies in the same, let’s say, income group :) and as a couple who will be retiring in our mid 50s that really appeals to me because all of my friends are still working lol
That's a good point. I know I kind of came across and anti 55+ but I'm not really. I just turned 51 and my wife is younger than me. We've been "retired" for a couple of years and find we are usually either are hanging out with 25 year olds with flexible schedules or 65 year old grandparents without jobs. There isn't a big "retired early' group in their 40-50's to hang out with. And I know a lot of older people want a subdivision with all of those rules, that's why they pick them.
Getting old is hard enough. The LAST thing you need is to be bullied by an HOA!!!!!!
I pretty much agree 100% with what you are saying, and it has not even crossed my mind to ever move to one of those communities (or to any community with an HOA, for that matter). But I could see it at older ages, maybe at 75, 85 etc If you are single or a widower, you don't have children, family lives far away or you do not have a lot of relatives left, your friends are moving closer to their children at their older ages.... Well, in that case, I could consider downsizing to one of those communities mainly not to feel lonely.
I think it would give you a head start to meeting new people and making friends. I think that many older people have kids that have moved away and it make it hard for them to figure out where to live when they do think about downsizing.
Most people who move into an HOA community probably have no idea about all of the restrictions. Number One on my home buying list was no HOA. No steam heat etc.
Yea, I doubt many of them think to get a copy of the rules, as I suggest in this video.
Good info!! A lot to think about!👍
Thank you. I'm glad I got the brain juices flowing
great points, thx
Thank you for watching.
How about that some( maybe all) can vote to change HOA rules.
I know a lady who picked a place where fences were allowed. That was her main reason for buying into that community. So she built a fence. About a year later the HOA voted for fences not to he allowed anymore. She had to take her new fence down and she eventually sold her home and found another place to live.
Oh yea, that would be a big one. City governments keeps trying to do this in regards to airbnbs and how you are allowed to use your property. Super annoying.
Sounds like living in a communist country where you are forced to follow onerous rules under the prying eyes of nosy neighbors that can report you to the board for minor offenses. Like the one line out the sopranos when visiting a retirement home for Tony's mom, "its like High school but with walkers and wheelchairs". Great info that confirms my opinion on that sort of communities.
Ha! You win the comment of the day award. I wish I would have known that quote when I made the video.
And the ugly implication that we're not going to make society a nice place to be - we'll just herd the old ducks into their own area and let the rest of society turn into a prison yard.
Ha, I hope not. I'm going with the ducks if that happens. 😂
@@TheRetirementality it's already happening - everyone is just indifferent to entire neighborhoods they have to avoid at night...
@@jamesof7seven It's true. It's like the story about how to boil a frog. We just get used it and it gets worse, and then we get used to that.
It's the wild sex parties for me! 😂 I suppose there are 55+ communities like that, but I'm sure it's on the hush-hush! 😮
Hey... you didn't hear it from me... 😎
Not where I live. Celibacy is the norm. In case you didn't know, HALF of all American women have had sex for the LAST time by age 50 (according to John's Hopkins). Menopause destroys libido. My neighborhood is full of SAD men who haven't had any in decades.
There ARE upsides. Biker gangs are evicted very quickly, the same for the neighbor that uses a big tree trunk as an engine hoist to work on his truck engine. Hostile Pit Bulls and German Shepherds? Yep, you guessed it, outta there...👉
Great points... pros and cons in every neighborhood. I like the perspective.
You had me at HOA. F' dat.
Fo Real
HOAs vary widely. We can build a fence in the backyard; the only pet restriction is farm animals. You have to read your own documents before you buy.
The limited demographic for resale is a thing. I wonder what will happen as the Boomer wave dies off.
Lack of age diversity bothers me too. I like lots of kinds of people. Know what floats your boat.
Amenities support the value of your property whether you use them or not. You just decide whether that's important to you.
I live in one and it is HELL
Uggg sorry to hear that. Are you going to stay there?
Im nearing 73 and never heard of a '55+ Community -
There is one in central Florida called the Villages. It's its own city. Most of them are just neighborhoods. I bet if you google the name of your city and 55+ community, you'd find something.
So you're specifically talking about a community where you buy a home, and not an apartment community?
Yea, I was really thinking about neighborhoods that have single family houses in them in when I made this video.
My gosh
😉
No smoking gun, boring content. This guy did zero research. I do not think he even web searched the issue. I could not make it thru him juts reading the rules.
Thanks for the comment. It helps the algorithm know that you liked the content. 😂
PLEASE USE ANOTHER PEJORATIVE TERM BESIDES "KAREN". THERE ARE PLENTY OF WOMEN NAMED KAREN WHO DON'T DESERVE THIS.
You seem to have the qualifications to be on an HOA committee. Are there any other rules you want us to live by?
They put it in all CAPS too... so they are serious.
The All Caps woman must be a “Karen”
5 reasons: 1) Karens, 2) Karens, 3) Karens, 4) Karens and 5) more Karens!
YOU MEAN...."KAREN - CONDOS" ? Thats exactly what they are.....Im old but I would NEVER EVER...be part of this crap.....no way...
Did you see the comment that said I'm offending everyone named Karen? LOL they could be your neighbor 😂
Plus residents payment to the HOA association, includes unlimited harassment of the Association Comity.
55 over.. they think bingo is still a thing? that is old timy silent gen games. by 10 years 55 anvd over will want to listen to nivrana, and play xbox
Ha! Yea, I guess we have a few more years before the GenX retirement communities start springing up.