Is all of Sun City, 55+ only? (Phoenix, Surprise: foreclosures, for rent, HOA)

[wentworthy]

Hi All

I will be heading back to Phx next month, making the move from Australia, and hubbie and I are looking for a decent home within the price range he qualifies for.
I would like to know is all of Sun City 55+ only?
As my husband can only get approved for a mortgage of $120K,and mostly for that price, the homes are downtown & southside,and in very poor condition and old,
It seems the only decent looking homes are in the Sun City area.
We are 35 yrs old, and wondering if any part of Sun City is open to everyone to live there.
yes, I have been to Sun City before, I know what the area & homes look like.
We prefer a home instead of a townhome and are trying to avoid renting an apt.
Any help, much appreciated.

[sablebaby]

Yes it is ALL age restricted, that's the point. It's for older retirees who can live a little cheaper.

For $120k, I would just rent an apt (maybe a house). You're not going to find anything decent looking. You could have done just fine about 7-10 years ago.

[aj661]

They will let you buy in a little younger, but not 20 years. We were told by a Sun City at Merrill Ranch salesman that they would allow 10%, down to 49 years, but the homes there start much higher than 120K anyway. Sorry, but you won't find anything new for that price anymore. Six years late on the east side.

[63ragtop]

I can't think of anywhere in Phoenix that would be desirable to live in where single family homes are $120K.

Downtown can be very much hit and miss and I think you would need some serious feedback from people familiar with the exact blocks you are looking at before committing to a purchase.

[ibarrio]

Just rent a nice home in a good area and save for that home. Rent is not overly expensive in Phoenix. I was surprised for what homes rent for (I did come from California though).

[azloafer]

We live in Green Valley which has the same restrictions that Sun City, Sun City West, etc have. At least one person in the "household" has to be 55 and no one younger than 18.

Don't attempt to lie and move in before you are legal. We have friends who moved in two years early. One of the neighbors reported them because they looked so young. The HOA looked into it and our friends were forced to move out. The realtor said that he would look the other way, but it didn't work in their case.

THERE IS A WAY THAT MIGHT WORK AND HAS BEEN USED IN GREEN VALLEY. When a new section is built there are special rules that apply. The section has to be named differently from the rest though. For example: We moved into a section called Desert Hills 5. Our friends who were forced out because of age moved into a section called Camino Encanto. The rule is that the first 20% of the people in a NEW SECTION can be 45 years of age. When I moved here I was just 45. When my friends were forced out of the Desert Homes section they moved into Camino Encanto while it was being built and came in under the 20% rule. Once the house is purchased though, it can never be sold to anyone under 55. The 20% rule is lost.

Now if a new section is built in the age restricted Sun City area and is called say...Sun City North...The 20% rule might apply. Every retirement area that we looked at before moving here had that same 20% rule. Talk to a realtor who knows these rules and they can lead you to the right area.

Green Valley, as an example, is now building the newest area called Canoa Ranch. We moved here 4 years ago. The 20%, age 45 rule will apply for a short time yet. This is the last section that can be built in Green Valley because it is built out to the established community limits.

[azjack]

Yes, one household member must be 55 years old to live in the Sun Cities.

$120K is not enough right now to get a decent place in Metro Phoenix. However, we are in the midst of a housing bust that will continue to play out for at least three more years. Overbuilding, the end of loose lending practices, arm resets, resulting foreclosures, and the (attempted) exit of speculators are all contributing factors.

I would not plan on buying for at least another year. If you want to rent an almost new house in the Sun Cities area, you can find several for rent in the adjacent City of Surprise. Plenty of single family houses for rent there for well under $1,000/month. So, save some more money and wait for the bargains that are starting to appear, but avoid buying for awhile because you would be catching a falling knife.

[Master Shake]

For $120K, you might want to look at condos -- but that might still be difficult. Or try another area like Houston, Tx., where the houses start in the low $100K's.