Buying a Home in Active Adult Community
Although the majority of Active Adult Buyer have bought a home in the past, buying a home in an Active Adult Community is a little different. It is essential to those you are working with understand the goals of the move and what you are trying to accomplish. This move and home maybe about right sizing and maintenance or perhaps wanting to be closer to the grandkids. Start by meeting with your REALTOR and discuss wants, needs, and timeline.
When buying in an Active Adult community, understanding what the community has to offer is important. Does the community have the amenities you are looking for? Is an active social calendar vital? Are you looking for a workout place in the community? Active Adult communities have Homeowner’s Associations and association fees. The fees will vary from community to community in addition to the items that are covered. It is essential to understand the fees and what is covered.
Financing Options for Buying a Home
Discuss your financing options when buying a home in an Active Adult community with your REALTORS and loan officers. It is important that everyone understands your financial goals. Financing options would include paying cash; larger down payment and small house payment; smaller down payment and larger house payment; or down payment and no house payments. Perhaps there is a way to purchaser before you sell your present home?
It is also important to know which counties provide the better tax incentives to Active Adult Buyers. Some counties Senior Tax Exemptions start at age 62, other counties could be age 70, some counties offer no Senior Tax Exemptions.