Home Buying in Tamarac>Question Details

ltrivone, Home Buyer in Tamarac, FL

Do you have to really be 55 to purchase a home in a 55 community?

Asked by ltrivone, Tamarac, FL Wed Mar 6, 2013

I am 53 1/2 and my husband is 48. We want to look at 55 communities for when we reitre.

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Answers

4
You do not have to be 55+ to purchase but inorder to reside there one person must be 55+
0 votes Thank Flag Link Thu Mar 7, 2013
55 year old communities usually require at least one of the parties to be 55. But some communities have a certain percentage of people under 55.
0 votes Thank Flag Link Thu Mar 7, 2013
It all depends on the community. I would have to say that typically one adult should be approaching 55 at least within a few months or at least within that same year.
sometimes exceptions can be made especially if you are purchasing new construction and the build out time frame is 6 months or longer.
My advice is ask the community you are interested in. If you get an answer that does not please you but you are in 'love' with this community/lifestyle then go over to ask the developer, better yet, get a good Real Estate agent who can assist you with negotiating. This is what we do best! :/)
Good Luck!
0 votes Thank Flag Link Wed Mar 6, 2013
Hi,

In most communities at least one person must be at least 55 to live in the community, but you don't have to be 55 to buy in the community.

There are many "Active Adult" communities where you do not have to be 55 to live there. These communities have an 80/20 rule, where if 80% of the population is over the age of 55 the other 20% can be under that age.

If I can be of further service please contact me directly.

Nadine Mauro
Highlight Realty
561-414-0864
NadineSellsHouses@gmail.com
0 votes Thank Flag Link Wed Mar 6, 2013
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