According to this law, at least 80 percent of the occupied units must have at least one resident who is 55 years of age or older. Anyone else living in the home can be no younger than the minimum age established for the community. This means that no one in the community can be younger than 45.10 Feb 2017
Can my son live with me in a 55+ community?
Yes, as long as your child is over 18 and at least one member of the household is 55 or older. Therefore, be sure to ask your real estate agent and the community you're looking at regarding their rules surrounding children living with parents.4 Nov 2021
Who can buy in a 55 community?
Yes, someone under 55 may buy in a 55+ community. However, at least one of the residents living in the home must be over the age of 55. It can also depend on the community's own guidelines and regulations with the age requirement.13 Oct 2021
Can a 22 year old live in a 55+ community?
Yes! This is referring to the 1995 Housing for Older Persons Act, or HOPA. Under this act, once 80 percent of the units are occupied by at least one person over the age of 55, communities are allowed to adjust their age requirements.
Is it cheaper to live in a 55+ community?
The cost of living in a 55+ planned community is usually about the same as purchasing a house or apartment in any planned community. Pricing varies by number of bedrooms and included features.5 Aug 2021
What are the disadvantages of living in a 55+ community?
- Financial Concerns. A nice retirement community will provide many amenities and services, but these don't come cheaply.
- Social Concerns.
- Lifestyle Disadvantages.
- A Good Choice for Some.
Do 55+ communities appreciate in value?
Yes, +55 communities will appreciate in value as other communities, but some of the "reasons" may be different than a typical community. Just depends on the area but normally there is a shortage of these properties so they normally do go up in value because of supply and demand.4 Jul 2018
What are the disadvantages of living in a 55 plus community?
- They're More Expensive.
- You Might Have to Move Away from Loved Ones.
- Social Interactions Can Feel Overwhelming.
- They Might Have Excessive Rules.
- You Might Still Live Near Kids.
- Their Popularity Can Limit Your Buying Options.
- You Might Have to Move into a Smaller Home.
Can someone under 55 buy in a 55+ community in Florida?
In Florida 55+ communities there is a federal law that governs all our age-restricted communities. According to this law, at least 80 percent of the occupied units must have at least one resident who is 55 years of age or older. This means that no one in the community can be younger than 45.10 Feb 2017