Ks, Both Buyer and Seller in West Columbia, SC

Can persons under 55 years buy homes in 55-plus communities?

Asked by Ks, West Columbia, SC Sun Nov 1, 2009

If my spouse and I are under 55 but have no children living at home, can we buy property in 55-plus / retirement communities? If not, does this restriction vary from state-to-state? How does the 20 precent rule apply to these communities?

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4
This is basically a federal provision allowing for special treatment of over 55 people. The Community owner can only advertise as 55 and over if at least 80% of the people living there are 55 or over. There is a lot of fine print. I had to research this when as a Realtor I purchased a 55 and over MHP and wanted to know how the Fair Housing laws would allow such a restriction.
1 vote Thank Flag Link Sun Nov 1, 2009
California MRL's (mobilehome residency laws) allow someone under 55 to live in a designated 55+ park. The stipulation for the park is that a minimum 80% be over 55 and that no one under 45 can own in a 55+ park. Most of the 55+ parks actually have a large majority of residents 70 years old and up to the age of 100 so a good common sense thought you may want to consider is if you want to be among very old folks. The up shot is that very old folks are a wealth of wisdom and humor.
0 votes Thank Flag Link Fri Feb 20, 2015
Yes.
the Fed says the 55+ community can have something like 90% over 55 and if a home becomes available and an under 55 wants it...and of course can pay for it, etc., the under 55 can have it.
0 votes Thank Flag Link Fri Dec 18, 2009
Good Morning,

That is a good question can you buy a property in 55 plus communities? Again
it depends on the communities in our area they allow if you are married and you
your husband or wife is over 55 that is ok. But it depends on the communities.
I sold one in the our communities before the wife is under 55 and husband is
over 55 years old.
0 votes Thank Flag Link Sun Nov 1, 2009
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