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For a 55+ Adult, Is it better to downsize to a smaller traditional home OR move into a Del Webb home such as Frisco Lakes?
Does anyone know the fate or potential future of 55+ retirement communities in general U.S. and specifically for the city of Frisco, Texas?
Will these retirement community homes one day have a bunch of foreclosures as boomers reach their 80's?
Thanks
You pose some interesting points. The Villages will probably always be around, since it is so popular, but I wonder about the smaller communities. We have been following Deaton Creek in GA for about 3 yrs. It seems the developers are being more and more agressive in their marketing. Don't know if that is because of the recession or if retirees are becoming less interested in 55+. Of course, 55+ in year-round warm areas are probably more popular than those in 4-season locales. I do notice that the prices in all of them seem to be rising and the finishes in the homes are being downgraded. What was standard, such as granite and tile, are now considered options. So I wonder if the people who buy in these communities don't have as much to spend as they once had or if lower income individuals are now the purchasers.
The choice between downsizing in a 55+ or a smaller traditional home is a huge decision. With the 55+ you have landscaping maintenance, neighbors near your age, few children around to make noise, mess, etc. Also, there are one level homes comfortable for retirees as they age, and plenty of activities. On the other hand, there is the HOA with restrictions some homeowners find disagreeable. Small lots that offer less privacy are an issue with some people. Often the Board is made up of the developer's buddies until the entire community is sold out. Read the book "Leisureville" by Andrew Blechman, which can probably be found at your library. You may not agree with the author's point of view, but he raises some interesting points. It is based on The Villages but the issues discussed span most 55+ communities to a degree. Blechman also discusses the history of some of the original Sun City's.
You pose some interesting points. The Villages will probably always be around, since it is so popular, but I wonder about the smaller communities. We have been following Deaton Creek in GA for about 3 yrs. It seems the developers are being more and more agressive in their marketing. Don't know if that is because of the recession or if retirees are becoming less interested in 55+. Of course, 55+ in year-round warm areas are probably more popular than those in 4-season locales. I do notice that the prices in all of them seem to be rising and the finishes in the homes are being downgraded. What was standard, such as granite and tile, are now considered options. So I wonder if the people who buy in these communities don't have as much to spend as they once had or if lower income individuals are now the purchasers.
The choice between downsizing in a 55+ or a smaller traditional home is a huge decision. With the 55+ you have landscaping maintenance, neighbors near your age, few children around to make noise, mess, etc. Also, there are one level homes comfortable for retirees as they age, and plenty of activities. On the other hand, there is the HOA with restrictions some homeowners find disagreeable. Small lots that offer less privacy are an issue with some people. Often the Board is made up of the developer's buddies until the entire community is sold out. Read the book "Leisureville" by Andrew Blechman, which can probably be found at your library. You may not agree with the author's point of view, but he raises some interesting points. It is based on The Villages but the issues discussed span most 55+ communities to a degree. Blechman also discusses the history of some of the original Sun City's.
Good luck with your choice!
I'm the daughter of a boomer primarily making the decision with my mother's blessing.
Does $184K for a 1,494 sq. ft. Del Webb home (2008) sound like it will get any at all equity ten years later?
The Frisco Lakes (TX) Del Webb is a master planned well landscaped community with full amenities. I just notice most of the people look about 70. How are they going to manage a household when they are a 85 yr. old widow?
In the few months I have been at Sun City West, AZ. I have wondered about the amount of empty homes in this community. In less than 2 weeks we will be in March. So the snowbirds must pretty well all be here now, and yet so many homes seem empty. Especially in certain neighborhoods. I also notice a number of For Sale signs on houses. Some have had signs on them for several months now.
I've wondered what happens to these older actually the original Del Webb communities. This one here started in 1979 I believe and was built out around 1997. The original Sun City down the street from me was built in the 60's. As these residents die off which is more and more each year now. The typical resident is in thier mid 70's into their 80's and 90's. I'm questioning do the owners of these communities, feel they are going to have a continuous supply of home buyer moving here. I don't see the 50's and 60's age person moving in here, I don't care what some would say. Its obvious in everyday living that is not going on here. So what happens to these communities. It would seem to me the communities would have to do, a lot of upgrading of homes and facilities here for a younger retiree. I do see problems here selling homes as the older residents die off now. At least here.
Don't know about Frisco TX but here in AZ the original Sun City 55+ community is over 50 years young and still going strong. Actually all the big 55+ communities here are doing great.
Don't know about Frisco TX but here in AZ the original Sun City 55+ community is over 50 years young and still going strong. Actually all the big 55+ communities here are doing great.
Mmmm. Why the complete opposite view point on 55+ Communities?
About how many more boomers are left to retire at approx. 65? Does anyone know?
Mmmm. Why the complete opposite view point on 55+ Communities?
Why are ther different POVs? Becuase people post about the communities they are familiar with--and different communities and different parts of the country are likely to have very different experiences. Your best bet is to talk to people living in Frisco Lakes and see what they think. I'm personally a fan of 55+ communities but I do worry that the recession could take a toll on some of the communities. The best idea is to visit and research the places you like and consider them individually.
I'm personally a fan of 55+ communities but I do worry that the recession could take a toll on some of the communities.
Good point, one with which I can agree.
I've done a lot of research on some of the 55+ communities ... West Palm Beach, Boca Raton and Clearwater ... in Florida, and Green Valley near Tucson. Lots of units for sale, for prices substantially lower than 6 years ago. Almost to the point you can charge them to your credit card when you buy. Well, all are not that cheap, but some in Florida are. Empty units often mean substantially reduced association income and potential financial instability for common area care and maintenance. That concerns me. Also, too, I don't see the communities I"ve looked at adapting to the approaching horizon of a new generation of retirees ... the long awaited, heralded "baby boomers." I think, though, that, sometimes, I think too much about these things and should just make a decision and make the best of it.
I've done a lot of research on some of the 55+ communities ... West Palm Beach, Boca Raton and Clearwater ... in Florida, and Green Valley near Tucson. Lots of units for sale, for prices substantially lower than 6 years ago. Almost to the point you can charge them to your credit card when you buy. Well, all are not that cheap, but some in Florida are. Empty units often mean substantially reduced association income and potential financial instability for common area care and maintenance. That concerns me. Also, too, I don't see the communities I"ve looked at adapting to the approaching horizon of a new generation of retirees ... the long awaited, heralded "baby boomers." I think, though, that, sometimes, I think too much about these things and should just make a decision and make the best of it.
I agree. At the same time we're about to have a wave of older people "being retired" against their will who will be forced to seek out dirt cheap places to live--they could end up wanting all those units that are so cheap right now. It's very hard to guess what the future holds, especially with this sequester talk hanging over our heads right now. I can imagine a lot of veterans will find themselves out of work and needing a cheap place to live, and that's a group that would include many people free to move anywhere they wish. Which means it might be another group that might be attracted to these communities (provided they change the rules about being 55+, which I could see happening if economic problems happen).
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55+ or Traditional home?
