If you could ask just one question at a 55+ community..... (Wilmington: loft, crawl space)

[Charley]

Originally Posted by DeeD

Then he went on to say ("FYI- The homeowner in question is only renting the home until next year sometime until they fully retire and move to DE. Given circumstances it works great because one of there other homesbuyers who has just sold their home is going to rent it until their home is built and they are just coming off of the Gold Key Plan")

I've been giving this some thought over the last day or two and given these particular circumstances, I don't think it's a problem. The problem will be when there are permanent renters, although if they are still held to the same standards that owners are held - and the property is kept up to the "streetscape standards", then it should be OK. A few "if's" in there, but maybe it isn't a big a problem as I thought it might be.

I guess it falls to the HOA to pay attention to the rental properties, if any, to assure compliance. It's funny ... I want a homeowners association with teeth, but I don't want them biting me.

[DeeD]

Originally Posted by Charley

I've been giving this some thought over the last day or two and given these particular circumstances, I don't think it's a problem. The problem will be when there are permanent renters, although if they are still held to the same standards that owners are held - and the property is kept up to the "streetscape standards", then it should be OK. A few "if's" in there, but maybe it isn't a big a problem as I thought it might be.

I guess it falls to the HOA to pay attention to the rental properties, if any, to assure compliance. It's funny ... I want a homeowners association with teeth, but I don't want them biting me.

Hi Charley, My husband and I had another discussion regarding this rental topic. We would be concerned if hypothetically, an investor bought homes and rented them out. This type of owner WOULD PERHAPS not care as much as someone that owned and lived in their dwelling on a permanent basis. Especially regarding any voting on topics or things that have to be addressed for the community.

[from PA]

I would not worry about investors regarding +55 communities there are too many foreclosures all over and probably very few, if any in the +55 market.

Regarding investors and voting rights in the HOA, only Board members vote on changes to the rules and regulations. Homeowners who are on the Deed are able to vote on candidates for open seats on the Board and although they may voice their opinion, they have no power to actually change the rules.

Charley, I like your quote..."I want a homeowners association with teeth, but I don't want them biting me."


One question I would ask when buying any property especially in this economy is....what kind of contingencies are in place if I cannot sell my existing home or if something unforeseen happens. May not apply to the OP but should be spelled out in writing if this is a possible issue.

[DeeD]

Originally Posted by from PA

I would not worry about investors regarding +55 communities there are too many foreclosures all over and probably very few, if any in the +55 market.

Regarding investors and voting rights in the HOA, only Board members vote on changes to the rules and regulations. Homeowners who are on the Deed are able to vote on candidates for open seats on the Board and although they may voice their opinion, they have no power to actually change the rules.

Charley, I like your quote..."I want a homeowners association with teeth, but I don't want them biting me."


One question I would ask when buying any property especially in this economy is....what kind of contingencies are in place if I cannot sell my existing home or if something unforeseen happens. May not apply to the OP but should be spelled out in writing if this is a possible issue.

Thanks for your very enlightening information!

[susieC]

Hi DeeD, we've been away and just saw your post. I certainly would prefer a crawl space under the house...the floors on a slab home are really cold. However, the only development that we looked at with a crawl space (that I remember) was Champion's Club in Magnolia.
Another thing to look at is where the furnace/hot water heater are located. You don't want them in a closet next to your bedroom (very noisy).
You asked about Independence...we really liked the development. Upside: huge clubhouse/pools are beautiful, (indoor pool is not open in the summer) good location (close to shopping/beach), floorplans are well done and the builder has a great reputation. Downside: HOA is $299/mo, propane fuel (apparently about 45% higher than natural gas!). So depending on your pocketbook....

[Honeycrisp]

All good points, SusieC, that HOA is a big chunk of change though!

[DeeD]

Originally Posted by susieC

Hi DeeD, we've been away and just saw your post. I certainly would prefer a crawl space under the house...the floors on a slab home are really cold. However, the only development that we looked at with a crawl space (that I remember) was Champion's Club in Magnolia.
Another thing to look at is where the furnace/hot water heater are located. You don't want them in a closet next to your bedroom (very noisy).
You asked about Independence...we really liked the development. Upside: huge clubhouse/pools are beautiful, (indoor pool is not open in the summer) good location (close to shopping/beach), floorplans are well done and the builder has a great reputation. Downside: HOA is $299/mo, propane fuel (apparently about 45% higher than natural gas!). So depending on your pocketbook....

Hi SusieC: Thank you for responding to my post. We prefer a crawl space to. When we visited Spring Arbor in Middletown, they also have the crawl spaces. Thanks for reminding me about Champion's Club, having them as well.

We liked Independence and I agree that the HOA is rather high, and I did not know about the propane costs, but thanks to you I am aware of it.

[elizamary]

Hi everyone from the white Mountains in NH. This is truely Gods country

Check any lot fees, HOA's and taxes in all communities.

Some have no lot rents but have higher fees for HOA's or other amenties such as golf..etc.

Here in Southen Meadows...we do have a reasonable lot fee.........No HOA fee and my taxes now that Hubby is 65 is $225 for the whole year.
since we don't own the land....our taxes are dirt cheap.
Just food for thought.

Now off to Andover MA........Happy Wednesday!!

[DeeD]

Originally Posted by elizamary

Hi everyone from the white Mountains in NH. This is truely Gods country

Check any lot fees, HOA's and taxes in all communities.

Some have no lot rents but have higher fees for HOA's or other amenties such as golf..etc.

Here in Southen Meadows...we do have a reasonable lot fee.........No HOA fee and my taxes now that Hubby is 65 is $225 for the whole year.
since we don't own the land....our taxes are dirt cheap.
Just food for thought.

Now off to Andover MA........Happy Wednesday!!

Sounds like your having a great time, in beautiful surroundings! It is nice to hear taxes that low. It leaves more money available for exactly what you're doing now...travel..It is such a wonderful thing to get out and see the countryside and visit different states...nothing like a good road trip. I love them as much as you do!!!

[DeeD]

Originally Posted by Bette

I would be concerned with what activities they have. I don't want to be lonely, I want to have a real social life if I were to live in such a place.

I would also ask about the age range - what is most prevalent?

Would we fit in? If I went as a single, are they are a lot? Couples?

Safety? Crime?

PS - I believe the over 55 communities are looked as safer to others and that's why younger residents may turn to them.

Hi Bette: I would think the reason most 55+ people would like to live in an active adult community is not to be lonely. I certainly agree with you about wanting to have an active social life with your peers. Living there makes it easier to achieve this. I also feel it is safer because people will most likely look after each other in there own way.