First of all, either you or your spouse must be 55 or over to purchase. If you are 54, then you will have to wait to buy this townhome. As for dependent children living with you, you have to find out the specific rules of the community. Go to the sales office is this is new construction and ask. They will tell you the rules. Get it in writing, ask to see the documents / prospectus before purchasing. You don't want to rely on what someone tells you, only to find out they were wrong and now you can't live there with your kids!