Buyers will be happy to know the old term ‘retirement’ has retired, and South Florida’s famous 55+ lifestyle has evolved into “active adult” communities.
Even savvy developers are building new 55+ residential communities, adding to hundreds of existing homes and condos at every price point, most in suburban Boca Raton, Delray Beach, Boynton Beach, Lake Worth, Palm Beach Gardens, and further north into Port St. Lucie.
If you’re new to this designation, you’ll want to know if anyone can buy over 55 properties before you start looking.
55+ means exactly what the name implies. At least one resident must be at least 55 years old to satisfy federal and Florida legal housing requirements. Condo and homeowner associations that oversee these communities limit the age of additional residents to adults.
Before your real estate professional walks, you through what’s available in this highly desirable market, ask yourself the Pros and cons of 55 plus communities
Less taxes: 55+ communities are exempt from paying school taxes.
Security: Most are private communities that require permission for access.
The cost: Housing is often less than in a family-oriented neighborhood requiring proximity to schools.
These communities have all the bells and whistles.
Age-appropriate activities in a clubhouse include daily activities from affinity groups, clubs, cards, fitness, and yoga classes. Amenities include an up-to-date fitness center, swimming pools, outdoor sports, and courts. Think tennis and pickleball. Some have at least one golf course. Sports leagues offer friendly competition. Some have lounges and dining rooms that serve or deliver catered meals in season. Others have their transit for shopping.
Guests, grandchildren, and visitors are welcomed, and playgrounds and holiday fairs cater to kids.
Are over 55 communities a good investment?
Residential and commercial developers and the government in Palm Beach County think so. Nearby shopping and restaurants continue to increase, and streets such as Lyons Road are being widened and extended to offer easy access for residents.
That’s also a good question for your real estate pro. Let one of Lang Realty’s Active Adult (55+) real estate specialists show you some of Palm Beach County’s most popular active adult communities including; Valencia Lakes, Valencia Palms, Valencia Pointe, Valencia Isles, Valencia Falls, Valencia Shores, Valencia Reserve, Ponte Vecchio, The Cascades, Venetian Isles and more.
