Legions of baby boomers are checking out retirement communities around the world as a possible next move. In addition to sizing up real estate options they are carefully evaluating the golf courses, tennis courts, marinas, landing strips, and yoga ashrams offered in the glossy brochures. But since buying into a retirement community involves more than just amenities, the editors of www.topretirements.com have prepared a list of the top 10 questions to help boomers make a more informed decision.
Most active adults either stay in their own homes or move to a smaller place when it comes time for retirement. But for the hundreds of thousands who move to an active adult community each year, a mistake can be expensive and draining. The Topretirements' questions were developed as a guideline to help boomers improve their chances of making a good community fit, along with minimizing any financial risk.
The Topretirements' questions assume that the new retiree has already researched the area in which the active adult community is located for climate, economics, recreational and cultural opportunities, and political compatibility. Topretirements offers detailed reviews and analysis on factors like those for over 180 communities at http://www.topretirments.com/reviews/index.html.
10 Questions to ask - before you buy in an active adult community
1. Who owns the land your home sits on?
2. How solid is the financial situation of your developer or association?
3. Is there a sinking fund for maintenance?
4. What type of assessments have there been?
5. What is the reputation of the builder/developer?
6. What is going to happen with adjacent property?
7. Can the community handle future growth?
8. What kind of rules (and how many) will you have to follow?
9. What is the political atmosphere of the community association?
10. What are your new neighbors like?