Just like baby boomers broke the mold throughout other life stages, they are also re-defining retirement, starting with their idea of retirement communities. In fact, the baby boomers don't even refer to them as retirement communities, they prefer the term active adult communities.
As the baby boomers retire by the masses and continue to do so in the millions over the next several years, demand for homes in Boynton Beach active adult communities continues to go through the roof, with many communities being on a waiting list. Developers have kicked things into high gear to try to keep up with the demand, and the existing 55 plus communities have expanded while new ones pop up all over the place.
When it comes to settling down for their golden years, baby boomers should make sure that their choice matches their social, cultural, and recreational requirements, as well as future healthcare costs. Those who are looking for a Boynton Beach active adult community want amenities like fitness rooms, personal trainers, media rooms, paths for walking, and cultural events.
Wilma Pinstein of Remaxx Advantage Plus is an expert in finding retirees the perfect active adult community to match their lifestyle. She has come across many questions in her time, these are the most common:
Aren’t retirement communities for old people?
The terminology “retirement community” has gone by the wayside and baby boomers would never consider moving to somewhere considered a retirement community. The term connotates places like nursing homes, retirement homes, or assisted living facilities. Baby boomers prefer to think of 55 plus communities as active adult communities, since they are active adults, not withering elders.
Does a Boynton Beach active adult community make financial sense?
It can or it can't; it all depends on your situation. There are many options depending on what you are looking for and your budget. If you are interested in living in a community with multiple recreational and social activities available, active adult communities can actually be very affordable. Replicating these amenities individually would quickly become quite costly if you chose to live outside of an active adult community that does not offer activities included in pricing.
On the other hand, you may not like playing golf. If you choose to live in a community where golf and other expenses are included in the monthly fee, but you don't take advantage of them, it may not be such a good financial decision.
Once you find the perfect Boynton Beach active adult community, is it important to do a financial background check?
It is important to do due diligence on your chosen community. There are too many communities with serious financial problems; either current or foreseeable future financial issues. The list of things to keep an eye out for is extensive. One of the most common issues includes foreclosed units caused by residents not paying their dues. This presses other residents and can cause serious financial problems.
You have the responsibility and obligation to obtain past financial statements, condo/homeowner's association documents, and HOA minutes. If you are unfamiliar with these concepts you should hire an attorney, accountant, or Boynton Beach active adult community real estate broker to study them for you. Always ask the other residents about the prospective community in order to get their opinions on living in that particular community, as compared to surrounding communities they may know of.
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