Finding the Perfect 55+ Community
Now more than ever, people are retiring earlier, living longer and looking forward to their senior years with a mix of joy and worry. To discuss how the empty nest crowd can plan for and select a perfect 55+ community, David Skid, Executive Director and Financial Planner with Vantage Wealth Management at Morgan Stanley, joins co-hosts Carol Morgan and Todd Schnick for this week’s All About Real Estate segment on Atlanta Real Estate Forum Radio.
Skid’s work with folks looking toward retirement focuses on a few different aspects, but they all include looking at individual needs. He says that “Atlanta is a unique hotbed” for retirees. It is not in the north, but it also is not Florida with its high property taxes, congestion and heat. There are plenty of 55-and-over developments cropping up in different parts of the Atlanta metro, which locals and northerners alike may consider.
Start from the outside, says Skid, when looking for these kinds of communities. Find out if it is close to what is important, whether that is the airport, restaurants, golfing, shopping or entertainment. He says buyers should make sure to choose an area that suits their external needs. He also suggests taking a long view. People are now living longer after retirement, so choosing a community that will suit a person or couple for the long-term is paramount.
From there, the search becomes about the internal features. If the buyer is searching for a community with transitional services, they need to know how transitional they are. They need to decide whether to rent or buy, and what is included in the price of purchase or annual dues. These will all have individual answers. Some people are happy to avoid lawn care and will gladly pay that fee, while others may like spending time in the yard.
Skid also suggests that regardless of whether the decision is to rent or purchase, buyers need to know if the community is fiscally healthy. They can determine if the community is managed well, if they are accruing money against future maintenance and what the resale value is.
To learn more about choosing a 55+ community, listen to today’s segment. David Skid can be reached here.
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