Buying properties in 55+ communities is similar to other kinds of properties, however, there are some notable differences. 55+ communities can contain different features, amenities, and rules. The following includes information on buying properties in 55+ communities in MA.
Definition of 55+ Communities
55+ communities have specific age conditions. The precise guidelines depend on the exact community. Some dictate that just one household member be a minimum of age 55 while others are stricter and mandate that all residents to be at least 62 years old, making it a 62+ community. Some allow minors while others exclude them. It is prudent to be aware of all of the restrictions before submitting an offer.
55+ Communities and Common Amenities
55+ communities are planned to provide maintenance-free living. Most come with certain amenities. Tennis courts, golf courses, swimming pools, fitness centers, and game rooms are typical. An association is usually tasked with everyday maintenance of the grounds, property exterior, and common facilities. Many will also hold recreational activities. Inquire about applicable dues for these things.
Properties within 55+ communities usually include particular features. Examples are a master suite on the lower floor, less land, and low-maintenance products. For new construction homes, some features may result in an added expense. Model units are generally upgraded to showcase bonus features. It is therefore wise to get details on what is standard.
Buying Properties In 55+ Communities In MA
Each community offers a different environment and style of living. This is influenced by age restrictions, rules, services, property features, location, and population. It is worthwhile to evaluate and weigh all of this information. Hiring a real estate representative who focuses on this kind of property may be an added advantage in your home buying experience. Your real estate representative will help you gather financials and other documentation, advise you on questions to ask, and help you arrive at an informed decision about buying properties in 55+ communities in MA.