As retirement approaches, your priorities and lifestyle needs might shift. For some, moving into a 55+ community can be a fantastic choice. Before making such a significant decision, it’s important to get a clear picture of what these communities offer and whether they’re a good fit for your lifestyle.

What Are 55+ Communities?

A 55+ community, also referred to as an active adult or senior living community, is a residential area created specifically for adults aged 55 and older. These communities are designed with features that cater to the needs of older adults, including nearby conveniences like shopping, dining, and entertainment.

Homes within these communities are often smaller, with many residents opting for apartments, condos, or townhouses. If you’re considering downsizing or prefer a lower-maintenance home, these types of communities might be perfect for you.

Can People Under 55 Live in a 55+ Community?

Yes, it is possible for someone under 55 to live in a 55+ community, but only if that community allows for it, which some do not. Even in communities where residents under 55 are allowed, certain conditions apply. 

Generally, at least one resident of the household must be over 55. Each community has its own rules regarding who can live there, so you should check the regulations of the specific communities you’re interested in as you’re making a decision.

What Does It Cost to Live in a 55+ Community?

The cost of living in a 55+ community can vary depending on location, but residents typically pay between $1,500 and $4,000 per month. Many 55+ communities are part of a homeowners association (HOA), and your monthly payments will likely include HOA fees. In comparison, assisted living facilities generally cost between $3,500 and $10,500 a month.

If you’re still independent but are seeking the convenience of added amenities, a 55+ community may be more affordable than other senior housing options. Be aware that some communities may also require a one-time move-in fee. For precise cost details, it’s always a good idea to consult with the community’s sales representative.

Advantages and Disadvantages of 55+ Communities

Living in a 55+ community offers many unique benefits, but it also comes with some potential downsides. Here’s a closer look at both sides.

Advantages

• Variety of Locations: 55+ communities are abundant across the United States, so whether you prefer a warmer climate like Florida or Arizona, or want to stay closer to your current home and familiar surroundings, you should have plenty of options.

• Enhanced Safety and Security: Many of these communities are gated and are often located in low-crime areas. Some offer on-site security personnel, and visitors typically need approval from residents to enter, providing an added layer of peace of mind.

• Extensive Amenities: One of the biggest perks of living in a 55+ community is access to a wide range of amenities, from proximity to shopping and healthcare to golf courses , fitness centers, and organized social events, allowing you to stay active and engaged.

• Low Maintenance: With an HOA overseeing landscaping, common areas, and shared amenities, you’ll have less to worry about in terms of upkeep. While you’re still responsible for maintaining the interior of your home and possibly your backyard, the bulk of exterior maintenance is taken care of.

• Sense of Community: These communities often foster a strong sense of connection, offering opportunities to meet neighbors with similar life experiences. This can help you enjoy a fulfilling and peaceful retirement, especially in quieter, more relaxed environments.
  

Disadvantages

• HOA Fees: While the HOA fees are used to cover the cost of amenities and upkeep, they can be expensive—usually hundreds of dollars per month. On top of this, some communities may charge additional fees for special amenities like clubs or events.

• Limited Age Diversity: Since most residents are over 55, these communities can feel homogenous. If you’re looking for a more diverse age group or prefer a broader community dynamic, this may not be the right environment for you.

• No On-Site Medical Care: Unlike assisted living facilities, 55+ communities typically do not provide healthcare services as part of the HOA fees. If you need assistance with daily living, you’ll need to arrange for home care through a third party.

• Strict Rules and Regulations: Residents must abide by the community’s rules and bylaws, which are enforced by the HOA. Violating these rules can result in fines, so it’s crucial to thoroughly review them before committing to a community.

• Smaller Homes: Many 55+ communities feature smaller homes, such as condos or townhouses, that are designed for two people. If you’re moving from a larger home, you’ll need to downsize and possibly find new ways to store your belongings.

Different Types of 55+ Communities

The variety of 55+ communities available allows you to select the one that best aligns with your lifestyle preferences. Here are some common types:

• Luxury Communities: 

These communities offer larger homes with high-end features and premium amenities, catering to those seeking a more upscale living experience.

• Golf and Resort Communities

If you enjoy golf or a resort-style environment, these communities may be a great fit. They often provide leisure activities like golfing, swimming, and other recreational options.

• Active Senior Communities

These communities cater to seniors who want to maintain an active lifestyle, offering a variety of activities such as biking, walking trails, and fitness centers.

• Singles-Only Communities

Designed specifically for unmarried individuals, these communities provide opportunities to meet others and enjoy social events tailored to single residents.

• Gated Communities

In addition to all the typical benefits of a 55+ community, gated communities provide an extra layer of security and privacy.

Should You Move to a 55+ Community?

If you’re seeking a peaceful environment to enjoy your retirement and connect with others in a similar stage of life, a 55+ community could be the perfect fit. The community-oriented atmosphere, combined with numerous amenities, can make for a smooth transition into this next phase of life.

However, if you’re not ready for a quieter lifestyle or want to interact with a wider range of age groups, you may want to consider living in a traditional neighborhood.

It’s also worth reaching out to a real estate agent who specializes in senior housing to help guide your decision and assist with finding the best options for your needs. 

The Bottom Line

Choosing to move into a 55+ community is a significant decision, but it can be a rewarding one if you’re looking for a quieter, more relaxed lifestyle with access to a wealth of amenities. These communities offer tailored homes designed for senior needs and the opportunity to engage with others in a similar stage of life. 

However, they’re not for everyone, so take the time to research the available options and determine if they align with your personal goals for retirement. When you’re ready to explore financing options, eBridge Financial is here to help you navigate the mortgage process smoothly and confidently.