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Friday, August 14, 2020

Who are allowed to live in a 55+ community?

by Editor (editor) , August 09, 2020

Are you getting close to retirement age? Well, one may consider a 55 plus community and may look specifically for Retirement community new home special. When you are looking for a new community approaching retirement, it is worth looking at a retirement community new home special to see if you may score an excellent property for a fantastic price.

One may wonder who can live in a retired 55 plus community. However, let's be clear on what exactly is a 55 plus community. Simply put it is considered a retirement community that is residential. It can be a housing complex. Some may even say it can be an apartment-style community. Moreover and plainly stated, these communities can be town-homes, condominiums; not to mention, multi-family patio homes or single-family houses.

The community is usually conveniently located near attractions and accessible shopping places along with parks and restaurants. This would go with the idea that many of the 55 plus residents love to continue to live a lifestyle that is active with things to do that are nearby. People who live in a 55 plus community usually can live independently and take care of themselves. However, in some communities, home care agencies sometimes provide assistance to some residents (given the fact that some residents can be well over 55 years of age).

Opportunities for socialization and activities are provided at times within the communities. The communities usually offer guidelines for who can live in the 55 plus community such as the age restrictions and whether there is full retirement or partial retirement. The community often offers amenities and services that are shared. The assistance can vary from community to community as most form Homeowners associations and pay dues. However, one must keep in mind that there are federal laws to follow, such as no one can be denied housing.

This is part of the Federal Fair Housing Act. One may realize that age is not a part of this fair housing act. This makes it legal for developers and communities to set age requirements who can own real estate in 55 plus communities. In these communities, there are usually two standard or basic rules. Number one is noted as each household must have a 55-year-old or someone older. Rule number two is that any other member of the household, which can be a spouse or partner, must be at least 40 years old.

If there are children, they must be at least 18 years old as most communities do not allow children to live in the community on a full-time regular basis. Grandchildren and other young relatives are not prohibited from visiting. They are welcome as guests in most communities for a short amount of time. For example, visiting for a summer vacation for two weeks or 30 days at the most is the normal range. Back to the 55 plus age requirement for a moment as another principal housing act was established in 1995. And, that is the Housing for Older Persons Act of 1995 known as HOPA. This gives flexibility in reference to age. Let's say, for example, a household has a 58-year-old and a 52-year-old. To go further, let's say the 58-year-old dies. Although the 52-year-old is younger and does not meet the age requirement, the 52-year-old can remain in the community. This is known as the 80/20 rule. The 20 percent provides a cushion for the 52-year-old to stay and not have to move because of age requirements. However, for the most part, the communities try to sustain the 55 plus provision in 100 percent of the households.



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