Your 55+ Budget vs. home wants

Let’s face it, very few of us have the budget to choose the perfect Community and home no matter the cost. The three things with the most impact on the price of a home in a 55+ Active Adult community are:

Location, Location, Location

Not just the state, but the area of that state and even the area within a given city or town. This one factor has the most impact on how much your new home will cost just as it does for non 55+ homes and communities.

Are Amenities Valuable To You?

The quantity and quality of amenities in a community can make or break your home purchase. In premier communities, up to 20% of a home’s value is in the amenities. I define premier communities as those with activities directors, pool(s) outdoor and possibly indoor too, a clubhouse, fitness centers, pickleball courts and more.

Size & Upgrades

The third factor affecting home price is the size of the home and if the home is new construction the amount and quality of upgrades you add to that home. If you choose a premium lot ie: wooded, waterfront, corner, oversized, cul de sac, etc., this too can add upwards of $75,000 in some communities.

It is imperative to staying within your budget to prioritize what is most important to you in your home search.

Monthly Costs & Budget

Budget is not just how much your home costs but also the monthly costs for your home. The above three things also affect your Real Property taxes, homeowners insurance and HOA dues which together with your mortgage payment, if any are your monthly costs.

Be realistic before you begin your home search to avoid wasting time and disappointment when your budget does not allow for you to have it all.