Pro/Con of over 55 communities

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My grandparents moved to Laguna Woods (formerly Leisure World) right next to Laguna Beach, CA. This is a 55+ community.

They loved it. My grandfather was a former contractor and they flipped at least 12 houses within the 55+ development before they died. If you're into real estate, you can live in very nice areas for much cheaper than going rate in the surrounding neighborhoods outside the community (try buying a house in Laguna Beach...). If you are a RE investor, tons of opportunities to buy an older home, update it, and sell for big money without any competition from families or institutional investor money.

Other pluses: no maintenance, no yardwork, active security, easy access to golf/tennis/club houses, lots of activity-based (my grandmother led the Computer Club for 20+ years and taught thousands of retirees how to use computers and smart phones), discounted travel tours, etc.

Laguna Woods actually seceded from the adjacent city in the early 2000s because of escalating property taxes. So that's another benefit to a 55+ community that incorporates as its own jurisdiction - it can control property taxes to a degree.

OP again thanks for this post. These items you mention are huge.

Another pro of Laguna Woods was the sheer diversity of housing in the development. Real SFHs, connected multi-level townhouses, single level connected garden-style town houses, 4-6 unit garden apartments (with no stairs - just long ramps up to the upper level units), condo towers with various degrees of assistance, etc. Really awesome 55+ community with a housing style to suit most preferences and budgets. They had studio apartments in small, no-frills elevator buildings if that's all you could afford.

So interesting (and funny) to see this post. I live in Laguna Beach, moved from Bethesda 7 years ago. I can vouch for everything both PP's wrote above.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My grandparents moved to Laguna Woods (formerly Leisure World) right next to Laguna Beach, CA. This is a 55+ community.

They loved it. My grandfather was a former contractor and they flipped at least 12 houses within the 55+ development before they died. If you're into real estate, you can live in very nice areas for much cheaper than going rate in the surrounding neighborhoods outside the community (try buying a house in Laguna Beach...). If you are a RE investor, tons of opportunities to buy an older home, update it, and sell for big money without any competition from families or institutional investor money.

Other pluses: no maintenance, no yardwork, active security, easy access to golf/tennis/club houses, lots of activity-based (my grandmother led the Computer Club for 20+ years and taught thousands of retirees how to use computers and smart phones), discounted travel tours, etc.

Laguna Woods actually seceded from the adjacent city in the early 2000s because of escalating property taxes. So that's another benefit to a 55+ community that incorporates as its own jurisdiction - it can control property taxes to a degree.

My parents live in Laguna Woods now. I grew up near there (Mission Viejo.)

Thank you for your contribution to this discussion.

[Anonymous]

Anonymous wrote:

Laguna Woods actually seceded from the adjacent city in the early 2000s because of escalating property taxes. So that's another benefit to a 55+ community that incorporates as its own jurisdiction - it can control property taxes to a degree.

and

The age cutoff was mostly to avoid paying school taxes,

The most appalling thing about these places is their attitude toward taxes in general, and schools in particular.

100%

[Anonymous]

Anonymous wrote:My in laws live part time in a 55+ community in Arizona. They have always really liked it, but during a recent visit they talked a lot about the people there who have died recently. My FIL, who is generally pretty cheery, seemed a bit down when he called it a place where people go to die. There aren’t any young, vibrant people there to counteract that impression once it sets in.

My parents specifically did NOT want to buy/live in a 55+ community when they moved to Florida. They really like seeing the kids go to the bus, or baby-sitting the toddler across the street, and watching people leave for work in the morning. There are still plenty of retirees living there. The pool has water aerobics and a gym facility.

As I get older, and start to have some issues with vision/night driving, I can see the appeal of living in a community where you can get around in a golf-cart! Or maybe in a smaller town or community where they have all the basics really close (grocery store, walmart/target, doctor, dentist, some restaurants). Older people stay in those small mid-western towns (that have almost nothing) because the small towns are EASY To navigate! I don't want to be driving on I-66 and I-495 when I'm 70! I'd rather be in an area that is designed to be simple, even if there are fewer choices. That's where a 55+ community becomes attractive. Not at 55, but more at 65+.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My grandparents moved to Laguna Woods (formerly Leisure World) right next to Laguna Beach, CA. This is a 55+ community.

They loved it. My grandfather was a former contractor and they flipped at least 12 houses within the 55+ development before they died. If you're into real estate, you can live in very nice areas for much cheaper than going rate in the surrounding neighborhoods outside the community (try buying a house in Laguna Beach...). If you are a RE investor, tons of opportunities to buy an older home, update it, and sell for big money without any competition from families or institutional investor money.

Other pluses: no maintenance, no yardwork, active security, easy access to golf/tennis/club houses, lots of activity-based (my grandmother led the Computer Club for 20+ years and taught thousands of retirees how to use computers and smart phones), discounted travel tours, etc.

Laguna Woods actually seceded from the adjacent city in the early 2000s because of escalating property taxes. So that's another benefit to a 55+ community that incorporates as its own jurisdiction - it can control property taxes to a degree.

OP again thanks for this post. These items you mention are huge.

Another pro of Laguna Woods was the sheer diversity of housing in the development. Real SFHs, connected multi-level townhouses, single level connected garden-style town houses, 4-6 unit garden apartments (with no stairs - just long ramps up to the upper level units), condo towers with various degrees of assistance, etc. Really awesome 55+ community with a housing style to suit most preferences and budgets. They had studio apartments in small, no-frills elevator buildings if that's all you could afford.

So interesting (and funny) to see this post. I live in Laguna Beach, moved from Bethesda 7 years ago. I can vouch for everything both PP's wrote above.

TBH, my grandparents bought all of those types of houses in Laguna Woods and flipped them. I visited every single one of their homes, they'd have a new home every two years or so. They would renovate in place; my grandfather had great sub-contractors he'd use for every job. The first thing they do is renovate the kitchen. Then each bathroom. Then re-do the floors, maybe open up a wall. New sliding glass door that's much easier to open.

Once they hit two years, my grandmother would get antsy and start going to open houses to find the next unit to renovate. They did this for 20+ years, it was so smart.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My grandparents moved to Laguna Woods (formerly Leisure World) right next to Laguna Beach, CA. This is a 55+ community.

They loved it. My grandfather was a former contractor and they flipped at least 12 houses within the 55+ development before they died. If you're into real estate, you can live in very nice areas for much cheaper than going rate in the surrounding neighborhoods outside the community (try buying a house in Laguna Beach...). If you are a RE investor, tons of opportunities to buy an older home, update it, and sell for big money without any competition from families or institutional investor money.

Other pluses: no maintenance, no yardwork, active security, easy access to golf/tennis/club houses, lots of activity-based (my grandmother led the Computer Club for 20+ years and taught thousands of retirees how to use computers and smart phones), discounted travel tours, etc.

Laguna Woods actually seceded from the adjacent city in the early 2000s because of escalating property taxes. So that's another benefit to a 55+ community that incorporates as its own jurisdiction - it can control property taxes to a degree.

OP again thanks for this post. These items you mention are huge.

It is one of the few remaining areas in OC where you can still get in at an affordable price. And it is so close to the beach! Your grandparents were smart
Another pro of Laguna Woods was the sheer diversity of housing in the development. Real SFHs, connected multi-level townhouses, single level connected garden-style town houses, 4-6 unit garden apartments (with no stairs - just long ramps up to the upper level units), condo towers with various degrees of assistance, etc. Really awesome 55+ community with a housing style to suit most preferences and budgets. They had studio apartments in small, no-frills elevator buildings if that's all you could afford.

So interesting (and funny) to see this post. I live in Laguna Beach, moved from Bethesda 7 years ago. I can vouch for everything both PP's wrote above.

TBH, my grandparents bought all of those types of houses in Laguna Woods and flipped them. I visited every single one of their homes, they'd have a new home every two years or so. They would renovate in place; my grandfather had great sub-contractors he'd use for every job. The first thing they do is renovate the kitchen. Then each bathroom. Then re-do the floors, maybe open up a wall. New sliding glass door that's much easier to open.

Once they hit two years, my grandmother would get antsy and start going to open houses to find the next unit to renovate. They did this for 20+ years, it was so smart.

[Anonymous]

I am 65. My friend moved to a gated enclosed over 55 in Florida. Houses are beautiful. Everyone is older, ftom 7 to15 years older. There is a generational gap for me and it seems a little odd to me to start grouping older people together even though there are a million of these communities and are popular!
Yes, younger families in our neighborhood socialize with each other, but we do see them and have community feel. There's a lot of over 55s for whatever reason in our area, and they definitely are not moving even though right now would be the time to do it. It seems to be true that we, generally. are meant to be engineered toward older people and to leave millennials alone and it makes be a bit sad.

Here's one down side- all these houses will have a very restricted market when you or your estate wants to sell down the road. There are too many to have a healthy turnover opportunity later and new developments are being built all the time.

If I ever do this, and I'm definitely not ready now, it will be a development within a larger community of everything, pethaps in the area I already live. Living in a 150 ish home in a gated isolated community with not much else around would be awful. Very depressing. Secondly, it's a closed group, with only so many social network opportunities. I can see it getting a little toxic with cliques. Like high school.

[Anonymous]

My mom is in a 55 and over and she is definitely on the younger side. One plus is that sometimes these communities are in good locations where it typically would be more expensive to buy into - like Arlington and the beach. My mom has found her "crew" and has an active social life. While typically the buildings in her community stay low, during this period of time of crazy house prices, her unit has almost doubled in 7 years. The condo fees are high though

quote=Anonymous]My boss, who is in her late 50s, moved into one a few years ago. Sounds like she is one of the very youngest in the community and there are frequent visits from paramedics due to the age of her neighbors. Upside for her was the cost, she sold a townhouse and the unit she bought was much cheaper (she is a single empty nester) and she no longer needs to worry about property maintenance. Downside is that that property value probably won't appreciate much, since there is such a limited pool of potential buyers if she does decide to sell.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My grandparents moved to Laguna Woods (formerly Leisure World) right next to Laguna Beach, CA. This is a 55+ community.

They loved it. My grandfather was a former contractor and they flipped at least 12 houses within the 55+ development before they died. If you're into real estate, you can live in very nice areas for much cheaper than going rate in the surrounding neighborhoods outside the community (try buying a house in Laguna Beach...). If you are a RE investor, tons of opportunities to buy an older home, update it, and sell for big money without any competition from families or institutional investor money.

Other pluses: no maintenance, no yardwork, active security, easy access to golf/tennis/club houses, lots of activity-based (my grandmother led the Computer Club for 20+ years and taught thousands of retirees how to use computers and smart phones), discounted travel tours, etc.

Laguna Woods actually seceded from the adjacent city in the early 2000s because of escalating property taxes. So that's another benefit to a 55+ community that incorporates as its own jurisdiction - it can control property taxes to a degree.

My parents live in Laguna Woods now. I grew up near there (Mission Viejo.)

Thank you for your contribution to this discussion.

You're very welcome!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The Villages! Have you seen Some Kind of Heaven? https://www.somekindofheaven.com/ You can check it out on Hulu.

The Villages are way too political. Lots of the 55+ communities have bans on political signage and flags.

PP here. I know — I was being a bit facetious. 😊 Whenever I think of 55+ communities, all I can think about is The Villages. Lol.

Ugh. I just returned from visiting The Villages. I could never live in a place like that.

[Anonymous]

Anonymous wrote:I’m 36 and childfree and I would LOVE to live in a 55+ community. What a wonderful way to be in a peaceful, quiet place with people with common interests.

+1 The communities near me tick every box on my want list--small properties, lovely setting, safe and quiet. I bought a condo in an older-skewing building but at 55 I will seriously consider moving.

[Anonymous]

I don't think I would like it. I like to see different people of all ages, walks of life in my neighborhood. I'm also not a social type of person for book clubs, games, dances etc. I would hate to spend my time only with old people around me.

[Anonymous]

too many busybodies looking to know your business

[Anonymous]

Anonymous wrote:too many busybodies looking to know your business

This can be a good thing, when your neighbors know you and care about your welfare. They may be the first to notice when things aren't going well for you physically or cognitively, and can play a useful role in notifying on-site social workers (if any) or perhaps your family, if you're unable to do so yourself. One person's busybody may be another's friend.

[Anonymous]

My aunt lives in one in South Florida. Negatives include little appreciation of property value due to age restrictions of buyers and these buyers are normally on a budget. Your neighbors will die more frequently and there will be frequent ambulances in the neighborhood which may wake you up at night. Lots of lonely people because they have lost a spouse. High assessments to keep up the many amenities.