Hello World! Welcome Friends! The Basic: What are Vegas 55+ Communities?
To put it simply, Vegas 55+ communities are active adult communities (more commonly called 55+ or over 55 community) that houses residents over 55 years of age. The development of the Vegas 55+ communities dates all the way back to the 1968 Fair Housing Act (FHA), which aimed, among other things, to stop discrimination in availing housing based on race, gender, or religion.
Although there were already communities that were geared towards housing retirees and over 55, there was no passed law that prevents homebuyers under the age of 55 to move in that neighborhood. However, title VIII of the FHA was amended in 1995 to establish an exception for Vegas 55+ communities that make it possible for them to create community agreements limiting their residents’ age and authorizing them to sell directly to homebuyers over the age of 55. This amendment addressed and resolved a major housing need directed towards the preferences of active adult homebuyers.
Vegas 55+ communities are intended for homebuyers who are over 55 years old in mind. It entails features such as communal facilities, ADA-compliant infrastructure, as well as low-maintenance and mostly single-level homes.
Vegas 55+ communities give those over 55 a sense of belongingness and comradeship. Many older adults can often feel trapped in their communities after their children have packed up and gone on with their own lives, as the structures that had provided them a sense of places, such as schools and youth recreation centers, fade away. Most older adults will feel an entirely new sense of belongingness when relocating to a community of neighbors with a similar age range.
Now that you have a background on what a Vegas 55+ communities are, we will be looking at the pros and cons of living in an active adult community.
The Pros of Living in Vegas 55+ Communities
Amenities
The Homeowners Association’s dues pay for some community amenities that provide socialization and workout activities. A clubhouse, swimming pool, fitness center, and a golf course can be included in such shared facilities. A broad range of social gatherings is also provided by several Vegas 55+ communities, consisting of workshops, parties, sports clubs, and charity organizations.
Resort-Like Ambiance
A resort-like feel is something that will be enjoyed by just about everyone, and there is something of an ongoing race going on between communities right now to provide their community members with the best facilities they can. This is as basic in some communities as a hall for community events, meetings of the Homeowners’ Association (HOA), and seasonal gatherings.
Typically, clubhouses have indoor kitchens and outdoor pools and patios. The amenities truly equal those of a resort in larger communities. Potential homebuyers are drawn to golf courses, miles of golf cart routes, state-of-the-art fitness centers, and community gardens.
Residing Around Peers
Living in a Vegas 55+ community allows you to immediately be a part of an actively involved, supportive social scene by social programs, gatherings, and celebrations. Whenever people with shared life experiences surround you, it can be easy enough to find friends.
Low Maintenance
In general, downsizing implies that you would have a smaller house to take good care of, and residents are now only responsible for indoor maintenance or daily maintenance. The Homeowners Association takes care of the obligation of building upkeep, cleaning, and repairs. This usually includes lawn care, snow shoveling, painting, and roofing, and cleaning of gutters.
Safety and Security
Most, if not all, retirement communities are securely gated and conveniently located in private places with low crime rates. Although it being gated already ensures that only permitted residents and visitors are admitted to the premises, several communities often have private security personnel on-site to ensure the residents’ safety. Plus, during the day, a lot of people are home, which further deters criminal acts. Other safety features are well-lit parking lots, and open areas, smoke detectors, and fire alarms posted emergency and evacuation guides, and clearly labeled exit doors are other safety features.
The Cons of Living in Vegas 55+ Communities
Higher Living Costs
Not all of the community’s amenities come for free, though. Residents pay the HOA or condo board’s monthly fees. These charges can range from a few hundred to a thousand. Monthly fees cover repairs, safety and security, expenditures such as insurance and trash collection, and the contingency fund that funds large-scale maintenance or renovation projects in addition to facilities and services.
Costs will quickly add up. Speak to a financial adviser and plan your income-based budget, factoring in membership dues, real estate services dues, deposit, property taxes, and energy costs, and as well as personal expenses such as medical care.
Lack of Diversity in Age
Though you probably would not have to put up with loud and annoying late-night parties, you might be bummed out by the absence of juveniles running around. Older people completely surround you by the very design of a 55+ community. The demographic homogeneity of a 55+ community could get boring if you are used to engaging with persons of different ages in your neighborhood.
Rules and Regulations
The Homeowners Association not only charges fees but also enforces the community’s bylaws. And there could be many rules — page after page of them — from what you are permitted to display outside of your house to how the shared facilities should be used. Before signing the contract, get knowledgeable with the community’s bylaws because if you breach them, the Homeowners Association will levy a penalty.
Difficult to Sell
If you need to sell your house or apartment, please be aware that the market is only for those over 55 years of age and above. You can transfer the property on to your family; however, they may choose not to live there or be barred from doing so because of their age. Owing to age limits, they, too, could have a tough time finding a buyer.
Smaller Residences
Many homes in Vegas 55+ communities are built for comfortable living for two adults. As being such, it tends to be smaller than homes that would appeal to big families. Many would see it as an advantage because it would be easier to maintain. But if you want to have the entire family over for occasions, you may find that the space is a little small. Most homes provide adequate space for entertainment, but large gatherings will be a challenge.
Click the links below for any posts you have missed:
Ideas for Sprucing up your Home
Major Signs you Have a Hard Water Problem in your Home
Does your Home Need a Facelift?
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