Oh… I thought he was suggesting it. What options has he suggested then? Is he hoping to just keep renting?
Yes, he continues to rent, but has semi-agreement to consider buying provided he gets some loan to match rent $2000 (His share). If Trump changes standard deduction rule, he may not be interested in buying condo as there is no tax benefit !
I do not quite understand the 55+ concept. Is it a good idea to have a bunch of old folks all day long? It would be good to live in a normal community when you get old.
It’s an age discrimination against 55- population also. Not sure if Carson will rule this as illegal.
No kids, no toddlers screaming, no babies crying after 10pm.
No babies, no kids, no young people. But does it accelerate the aging process?
Is there any statistics on life expectancy for 55+ community and gourds with comparable social economics?
55 seems a little on the young side but when everyone in the community is retired, there is a benefit. In a mixed ages community, most people are at school or work for a majority of the day. It can take a big effort to keep active and socialize when there aren’t others around during the day. So, easy access to social activities and senior services is a huge plus.
My grandmother lived with my parents for several years. She was very extroverted and bored out of her mind since my parents and the neighbors worked long hours most days. She was much happier in assisted living where she spent days on outings and with new friends.
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Yeah, there is some benefit.
Is 55+ development an invention of US suburbs? Seems that NIMBYs are more accepting to 55+ development. Developers would make more money to develop a regular community, but citizens want to reject more development. By approving 55+, maybe homeowners feel that it’s not a direct competitor to their house, also older people have no kids to consume social resources, and low crime from the wealthy older folks.
Foster City has a new community and it’s 55+ surprisingly. It could be a compromise from the NIMBY citizens. It’s selling for over 1M, but still lower than a regular unit with no deed restriction.
Arizona also have 55+ community but it’s selling for more. Probably wealthy retirees like to live among people who are like them, instead of integration into the locals.
If you don’t want noisy kids and troublesome teens throwing parties next door, it’s the only legal way to exclude them
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Generally over 55 community prices are lower…Less desirable, smaller buyer pool…Might be a good arbitrage. …Prices may go up faster than average due the skyrocketing number of old folks
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It’s a great buy if the law ever changes
What change? Do you expect the 55+ community becomes all ages?
It’s more than HOA,I think the city has some deed restriction.
Sure it’s a long shot, but if it’s deemed unconstitutional discrimination then deed restriction gets thrown out. I wouldn’t bet on it but it could happen. Upside surprise similar to repeal of rent control
LOL! Been around people with babies and toddlers lately? They don’t sleep, and they looked like they’ve aged 10 years!
But in all seriousness, recent studies show that sleep is very important for avoiding alzeihmers and dementia because the body clears out the toxins while you sleep. So not having interrupted sleep is a good thing.
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LOL! Been around people with babies and toddlers lately? They don’t sleep, and they looked like they’ve aged 10 years!
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Haha this is me! These kids certainly aren’t keeping me young.
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Will a crying baby next door prevent you from sleeping? Better have good walls and windows.
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Jil,
The appreciation rate is lower with the restrictions. I will avoid. If he lives there alone you can get cited esp if he has children running around…
Sam Shueh
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It is always a good idea to buy homes in 55+ community. But sometimes I feel This should not be consider 55+ community. People of any age should by homes in which ever area I feel so.