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Old 02-22-2016, 04:57 PM
 
Location: University City, Philadelphia
22,592 posts, read 12,289,398 times
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I apologize ... with over 350 pages and 3500 posts it would be impossible for me to read the entire thread.

Question: of the 55+ Communities in Delaware, which ones are the most affordable? It doesn't have to be the very rock bottom trailer park, but one suitable for a senior with a lower than average income?

Also, which developments are especially good value?

Thanks for your information!
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Old 02-22-2016, 06:20 PM
 
Location: Former LI'er Now Rehoboth Beach, DE
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I guess that would depend upon you definition of affordable, what type of place yo are looking for, house, condo , trailer.? Own the land or lease the land?
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Old 02-22-2016, 06:53 PM
 
Location: Dover, DE
1,796 posts, read 3,819,134 times
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Nuts is right. One of the big things here is land lease. Prices on the houses will be less up front as you aren't buying the land (as in fee simple) but you will pay a lease fee monthly (or yearly). Makes a big difference. But maybe easier on you to spread out the costs instead of putting the land in the mortgage/pay cash for it up front. But also be aware that the land lease ones are much harder to sell in the future. Here is Noble's Pond we have a couple homes that have been on the market for a long time because they are land lease. But those that are fee simple sell quickly. NP started out land lease but changed to fee simple for better sales.

I will tell you our personal observations. Out of the 3 counties, Kent generally seems to be the least expensive houses. New Castle Co. (northern area) appears to have the most expensive houses and Sussex Co. (lower part/beach area) appears to be in the middle. Now I'm sure you can find differing price ranges in all counties, but generally that is what we found. You can start at https://www.55places.com/delaware to get some ideas of price ranges. But be aware that not all 55+ in listed here. For example there is one called Fieldstone Village here in Dover that is less money that most but doesn't have a lot of amenities. Having amenities ups the prices on the homes.

I would also recommend that you check out some of the RE sites and see pricing on resales. I believe that you can filter your search for 55+ on most of them. Sometimes you can get good deals as if someone needs to sell quickly the pricing is good. I believe there is a RE agency down in Lewes or Rehoboth who deal strictly with 55+. We didn't use them but I have seen the ads.
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Old 02-22-2016, 06:58 PM
 
Location: Sneads Ferry, NC
11,225 posts, read 19,674,671 times
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Quote:
Originally Posted by rothbear View Post
You can start at https://www.55places.com/delaware to get some ideas of price ranges. But be aware that not all 55+ in listed here. For example there is one called Fieldstone Village here in Dover that is less money that most but doesn't have a lot of amenities. Having amenities ups the prices on the homes.
Just to get Clark Park started, I was also going to suggest the 55places web site. They may not tell you about land-lease, but you can sort the developments on price. The four developments with the lowest starting price are: Southern Meadow in Magnolia, Cedar Bay in Ocean View, Noble's Pond in Dover and Crossings at Christiana in Bear. (Many of these are attached homes.) I also like the looks of Fieldstone Village in Dover where you can get a detached house in the low $200K range.

Last edited by goldenage1; 02-22-2016 at 07:38 PM..
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Old 02-22-2016, 08:46 PM
 
Location: Sneads Ferry, NC
11,225 posts, read 19,674,671 times
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Quote:
Originally Posted by goldenage1 View Post
I also like the looks of Fieldstone Village in Dover where you can get a detached house in the low $200K range.
In answer to Clark Park's question about "good value", it is hard to answer. It depends on how much you want in amenties and what feature you condsider essential.

Fieldstone Village is very plain looking and has no amenities. However, I call it a good value because you could live very frugally there. You could walk to a grocery store. For amenities, you could go to the Modern Maturity center in Dover for workouts, swimming, card-playing etc. Here is some information on their models and prices: http://www.newhomesource.com/communi...ommunity-72285

The Crossings at Christiana is very inexpensive, but the houses are attached townhomes. The community has a clubhouse and bike trail, and is in a convenient location.

I really don't want to get into the land-lease issue, but you can reduce your cash outlay with a land-leased home. For example, in Noble's Pond there is a nice resale house listed at $165,000 (with a land-lease). If you bought the land it would cost an additional $52,000, or $217,000 totally. You can search the forum to get more discussions of the pros and cons of land-leasing.

Last edited by goldenage1; 02-22-2016 at 08:57 PM..
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Old 02-23-2016, 09:10 AM
 
Location: Long Neck , DE
4,903 posts, read 3,011,647 times
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As others have pointed out you can get into a land lease community for a lot less initial expense . Many folks trying to get rid of nice mobile homes on leased ground will let them go cheaply just to get out of the lease. Although not 55 Plus communities the area around Long Neck is quite gray off season. This area is close to the beaches and generally within walking distance to some backbay or at least some form of recreational water in addition to plenty of shopping and dining options. The not so great part is the ground rent will never stop but it surely will go up regularly.
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Old 02-23-2016, 10:06 AM
 
7,321 posts, read 10,750,768 times
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Quote:
Originally Posted by Clark Park View Post
I apologize ... with over 350 pages and 3500 posts it would be impossible for me to read the entire thread.

Question: of the 55+ Communities in Delaware, which ones are the most affordable? It doesn't have to be the very rock bottom trailer park, but one suitable for a senior with a lower than average income?

Also, which developments are especially good value?

Thanks for your information!

So......WE have to do this all over again? Sorry, but with the wealth of information provided in this thread..........
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Old 02-24-2016, 04:49 PM
 
Location: University City, Philadelphia
22,592 posts, read 12,289,398 times
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Thank you all for your replies!

They inquiry was not for myself but for a friend looking to retire outside Philadelphia but still in the region.
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Old 05-12-2016, 01:25 PM
 
2 posts, read 1,911 times
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Default Vincent Overlook

Does anyone on here live in Vincent Overlook? We are in the process of having a house built there and selling our house in Maryland. It has been difficult to find much information on activities at the clubhouse. If you live there, can you help answer some of my questions?
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Old 05-12-2016, 02:09 PM
 
Location: Former LI'er Now Rehoboth Beach, DE
7,775 posts, read 10,452,052 times
Reputation: 7763
Quote:
Originally Posted by Canno View Post
Does anyone on here live in Vincent Overlook? We are in the process of having a house built there and selling our house in Maryland. It has been difficult to find much information on activities at the clubhouse. If you live there, can you help answer some of my questions?
Don't you have the name of the management company? Certainly they could answer your questions or I believe Ryan homes is the builder.
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