Industry Articles
Industry Articles Home > Stretching your Retirement Dollar News
|
Active adult communities becoming a popular option for seniors 2010-04-27 Baby boomers are a very healthy generation and many choose to enhance their active lifestyles by moving to active adult communities, also known as age-restricted communities, during their retirement. Age-restricted communities are popular with many retirees because they offer cost-efficient maintenance while allowing seniors to connect with a community and enjoy a variety of amenities and activities, reports the Washington Examiner. Seniors considering moving to an age-restricted community, especially those who have taken out a reverse mortgage on their homes, may benefit from the current real estate climate. "Some communities are lifting age restrictions because it's hard to sell real estate right now, especially in a specialized market like this one," Guide to Retirement Living SourceBook founder and publisher Steve Gurney told the Examiner. "With the market as it is now, everything is on sale," Gurney comments. According to a joint report from the National Association of Home Builders and a major financial services company, more than 3 percent of seniors 55 or older reported living in an active adult community in 2007, up from 2.2 percent in 2001. Active adult communities may benefit retirees who want the comforts of a home in a neighborhood setting without the hassle of costly maintenance and repairs.  |
