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At retirement age, I would not buy any home that was more than 10-20 years old. I don't want to be constantly worried about upkeep and maintenance.
When I'm retirement age, I need upkeep and maintenance. Why discount a home that needs the same thing. That's discrimination My wife, a home inspector, always tells her clients "Everything fails." You fail, I fail, your roof will fail, your water heater will fail. Everything fails. It's not a matter of if it will break down, but when." Even new construction homes have flaws and sometimes they are big. I would purchase a home in such a subdivision. We're looking for peace and quiet, and my spouse can tell if the home is worth buying.
Part of my decision would be how you want to see yourself integrated into the community. If you are looking for something with others in a similar phase of life, I think you could find yourself betwixt and between - I think you are correct that these houses will likely start to turn over to a new generation of families with young kids. And they are going to have family oriented neighborhood activities and gatherings. Not that they would exclude you, but they are in a different phase of life than you are and lead a different lifestyle.
If you aren't interested in your neighborhood as a social outlet, it would matter less, but it sounds like that is part of what you are looking for. I think you would do better to find a neighborhood that is a better fit.
Well, we once bought a single-family home in a suburb where people lived for decades and the average homeowner was in their 60's-70's. They usually stayed put until they died or their kids put them in a nursing home. It was a really nice community and the brick homes (built in the 1950's) were very well maintained.
But it seemed that when the homes were eventually sold, they sold to families with young kids and these were rougher families from a different demographic. Some of the homes exceeded the occupancy limits. We started seeing questionable cars parked in front of the homes, questionable people hanging around drinking/smoking on the street corners, garages used for purposes other than parking cars, etc. In another 10-15 years I think the suburb I lived in will be completely different, and not a change for the better.
NO, I would not buy in a community where the majority of residents were in retirement age specifically because I have younger children and would want a community that primarily had families.
OP, if you have children or plan on having children I would seriously think about looking for a home elsewhere!
Also, if you don't have children and don't plan on it that's fine, but you still wouldn't want to be 20 years or so younger then the rest of the residents in the community. Just my honest opinion. Just because you are not going to have as much in common with your neighbors.
The old people don't bother me. I like living around older people. They are usually quiet and take good care of their homes. Young families create all the problems in my neighborhood. Not that every young family is a problem, just that the problem houses happen to be young families (pooping in the pool, noise, not picking up dog poop).
This neighborhood sounds like it is due for some large scale turnover (how much older can the average get)and right now you don't know who those new neighbors will be. So buying here is a gamble.
NO, I would not buy in a community where the majority of residents were in retirement age specifically because I have younger children and would want a community that primarily had families.
OP, if you have children or plan on having children I would seriously think about looking for a home elsewhere!
Also, if you don't have children and don't plan on it that's fine, but you still wouldn't want to be 20 years or so younger then the rest of the residents in the community. Just my honest opinion. Just because you are not going to have as much in common with your neighbors.
I believe OP is retiring to this community. Which, actually, makes it pretty perfect IMO.
How long do you plan to live there? With such a geriatric community I'd be concerned that with people dying off or moving to an old folks home there might be a lot of houses coming on the market around the same time that you want to sell.
You mentioned HOA and that's where I would first focus. It's very common for HOA's, CDA's or COA, where the bulk of the members are not long for this earth, that they are averse to paying into funds for needed future projects when they don't see themselves being alive to enjoy it. Depending on how long the community has had a majority of vintage aged residents, the greater the possibility all reserve funds are under funded. Not trying to be mean but old people are the worst at paying for the future.
I've been the kid on the block since I moved in... most built their homes in the 50's and 60's and some of my neighbor homeowners ranged from 80 to 104...
I thought this was a good sign in that they all chose to stay when they could have easily sold and moved.
Plus I like having neighbors home during the day to keep an eye on things and sign for packages!
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My wife, a home inspector, always tells her clients "Everything fails." You fail, I fail, your roof will fail, your water heater will fail. Everything fails. It's not a matter of if it will break down, but when." Even new construction homes have flaws and sometimes they are big. I would purchase a home in such a subdivision. We're looking for peace and quiet, and my spouse can tell if the home is worth buying.
