What are 55+ communities and who can buy?

55+ communities, also known as age-restricted or active adult communities, are residential areas designed specifically for people who are 55 years old or older. These communities often feature amenities and services tailored to the needs and preferences of older adults, such as clubhouses, fitness centers, recreational activities, and sometimes even healthcare facilities. The goal is to provide a lifestyle that supports active, independent living in a social and engaging environment.

Who Can Buy in 55+ Communities?

• Age Requirements: Generally, at least one person in the household must be 55 years or older to purchase a home in a 55+ community. The community might have specific rules about whether younger people can live there, but most require that any additional residents (such as a spouse or partner) are at least 45 years old.
• Family Members: In some cases, if a younger family member becomes the primary caregiver or if a surviving spouse is under 55, exceptions can be made. However, this varies by community and should be verified before purchasing.
• Rental Restrictions: Some 55+ communities have restrictions on renting out the property, especially to tenants who are under the age threshold. These rules are in place to maintain the intended demographic and atmosphere of the community.

These communities are popular among retirees and those approaching retirement who are looking for a supportive environment with like-minded neighbors and access to amenities that cater to their lifestyle.