One option in downsizing your family home when you aren’t ready yet for retirement living is a 55+ Senior Living Community. A 55+ community is where people who are 55 or older live in a planned community with activities and amenities that cater to the senior resident. Residents usually live an active and healthy lifestyle like social events, exercise programs, and hobby clubs or communities.
What Is a 55+ Community?
Here in Greater Puget Sound, there are a multitude of 55+ communities. Depending on the property, they offer and accommodate people who are generally active, and can provide security, landscaping services, maintenance, and activities that appeal to those who no longer want to have the hassle of keeping up a home. You can purchase a home, townhome or condo there, or there are other types of communities that offer rental apartments. In general, the atmosphere, home layout, and amenities are meant to provide for the needs of the 55+ age group, rather than, for example, young families. The area may have very specific stipulations on who can live within the community with the goal of keeping the residents in this upper age limit.
The Appeal of 55+ Communities
So why do people choose a 55+ community? We are lucky that here in Western Washington there are some incredibly planned out communities. Some of which can accommodate a senior throughout their lives. You can enter the community with a buy-in of a home purchase, and throughout your care needs through your life, the community can accommodate your care needs up until you pass away.
These types of well-designed communities have all of the residents’ needs in mind. They are usually close to hospitals, shopping, dining, and local attractions. Most will have a form of security and can often times be gated communities. They also can provide on-site security patrol officers.
The great thing for those who like to live around those your own age without children in the neighborhood, you can count on continuity in your neighborhood. Another convenience is that all of your expenses, like property taxes, insurance, utilities, etc – are mostly wrapped up in one fee. The maintenance and care of your property is basically eliminated: no more mowing the grass, raking leaves or replacing a leaky gutter.
What a 55+ Community is Not:
If your community is not a “Continuing Care Retirement Community” (CCRC), meaning that they provide continual care for all care needs over time, your 55+ community will not offer the following:
- It is not geared to care for your daily living activities
- It does not have medical or care staff
- It does not provide regular meal service
- There are usually no “regularly planned daily events”
When the time comes to need care, your option is to either have it brought in, such as in-home care, or to move to an assisted living facility that can accommodate your needs, if they do not provide it.
Types of 55+ Communities
In general, 55+ communities are for active adults desiring to live with their peers. And while many communities offer general amenities in a suburban setting, others are more focused on a particular lifestyle or location. Here are a few examples:
Luxury Senior Living Communities
A luxury 55+ community is just that. It often times will come with deluxe amenities, concierge services, transportation, like a town car or other types of services. Usually the homes, townhomes or apartments will be larger with more amenities and features. They tend to be significantly higher priced as well and come with a whole plethora of extras. Luxury communities may offer more services to residents including more onsite amenities. Most importantly, the higher price ensures that more affluent individuals live within the community.
University Retirement Community
One of the fastest growing sectors in this type of retirement community is the university 55+ community. Here, the community generally will have ties to local universities and colleges. They help to make it possible for individuals to work or participate in learning activities at these locations while providing for the individual’s needs at home.
Senior RV Parks and Retirement Communities
Some individuals prefer to be less set in stone when it comes to their living area. They want to travel. An RV or Mobile Home park is geared towards those who are over the age of 55 is a solution to this. Here, the individuals are able to live for as long as they like with others who share the similar interests and ages. These types of communities can have permanent and temporary residents. They can also provide a great way to socialize and explore new worlds.
Resort and Golf Retirement Communities
Golf and resort communities offer a resort-like experience for those who are older. While they are not open to the public, in terms of renting for a vacation, these locations allow individuals over the age of 55 to enjoy all of the vacation like amenities the area has to offer. Gold Communities often on or near some of the most prestigious golf courses in the area. We have some amazing communities here in Western Washington.
Faith Based Retirement Communities
Many people prefer to live around those who share the same beliefs as they do. There are a variety faith based communities that can provide that type of safe haven for those who live there. Those who live in the community share the same viewpoints and beliefs.
Active Retirement Communities
Active communities are just what they sound like – they are appealing to more active seniors who may want to bike, explore, and be physically active. Some of these communities are an extension of major golf communities, while others offer more access to hiking, biking, and swimming. The goal here is to keep everyone active and enjoying sports, recreation, and a busy lifestyle as they age.
Single Retirement Communities
Singles 55+ communities allow individuals who are unmarried an opportunity to live around others who are the same. There can be activities that encourage single adults to meet and mingle, while also maintaining their own sense of privacy and independence. The goal is to have an environment that single adults don’t feel left out of couple activities.
Gated Communities for Seniors
Many of our over 55 communities are Gated communities. They offer a bit more security, but still offer the benefits and specializations of a 55+ community. In short, the area does not allow just anyone to visit. Individuals who value their privacy and want less bothersome visitors and limited sales people will enjoy this type of community.
Amenities in 55+ Communities
The kinds of amenities you’ll find vary greatly from community to community. But in general, most will have a clubhouse and exercise facilities, indoor/outdoor pools, hobbies and crafts, security and maintenance. Others offer golf courses, marinas, tennis courts, on-site health care, restaurants, professional entertainment, walking trails, billiards rooms, card rooms, library/media center, bocce courts, lakes for fishing, and many other lifestyle related options. For seniors needing some assistance with living, there are communities with this option.
The Law and Age-Restricted Communities
You’ll find many variations of age-restricted communities such as 55+, 62+, and 65+. The U.S. Department of Housing & Urban Development (HUD) and the Housing for Older Persons Act, which says that housing must include at least one person who is 55 or older in at least 80 percent of the occupied units, regulates these communities. This means one spouse can be under the required age. Also, those under 19 cannot be permanent residents. These communities are usually noted as “age-qualified in their marketing brochures. Then there are those communities that are marketed to a certain age group — “age-targeted” — but are not age-restrictive. This means that younger couples with kids are permitted to live there. And for many seniors, that’s just fine.
How Much Do 55+ Communities Cost?
There is no limit to what they can cost. The type of community, the size of the accommodations, and the location all play a role in this. Generally speaking, some of the higher end locations can be just as expensive, if not more so, than owning a home.
55+ House Community
Some 55+ communities are neighborhoods with walkable streets and single-family homes. This is ideal for the active, healthy individual who still wants to have the freedom of living in a home.
Buying a House in a 55+ Community
It is possible to buy a home in this type of community. Buying a house in a 55+ community allows the homeowner to maintain ownership of the property and land. While individuals still need to meet the homeowners association requirements, they still have most of their freedoms here.
Renting a House in a 55+ Community
Some of these communities offer renting options. Here, you would not own the home – a third party generally does – but you can live in it and enjoy the community’s amenities. For those who may not be ready to buy or those who do not want a long-term commitment, this is a good option.
55+ Apartment Community
Not everyone wants a lot of land or space to live in, which is where 55+ apartment communities come into play. In these locations, individuals have a smaller space, often in a shared building with others.
Buying an Apartment in a 55+ Community
Buying an apartment or a condo in a 55+ community allows you to own that space. You do not own the land or the building’s shared features, but you do have an ownership stake in the property itself. This is excellent for those who want to maintain ownership and plan to live in the area long term.
Renting an Apartment in a 55+ Community
For others, renting an apartment in this community is better. It allows for those who live there to be able to live along their own goals. And, it can provide an opportunity for seniors to move into a 55+ community without having to make a formal purchase. Paying on a monthly or annual basis can be more affordable in rentals.
How Do I Pay for 55+ Senior Living?
Purchasing or renting a home in 55+ senior living really comes down to your own personal financial ability. Most seniors can still get a mortgage to purchase any type of home in this area. In other cases, it may be best to use cash reserves or investment income to make these purchases. There is no outright financial support for living in these communities. Medicare, Medicaid or Long-Term Care Insurance do not, in most cases, provide for these services. If the location is a 55+ community with Assisted Living services (which some communities are now offering at an increased rate) then there may be some allowance for additional financial support for just those services. However, they generally will not pay for housing expenses in this type of community.
How Can I Find 55+ Communities Near Me?
Most areas offer one or more communities like this. Finding them may seem like a challenge, but more so than ever, 55+ communities are marketing themselves. This means it is getting easier to locate these locations. For those who may need them and be unable to find one easily, consider during to senior centers, religious organizations, and even medical providers for additional advice on locating these fantastic communities. There is a great website called 55places.com that can help you find what is near you and the amenities that these communities offer.
Lead image © Can Stock Photo / ElenaT
