5 Big lies told in 55 plus communities! You won't believe the biggest one! - YouTube

hmm

What? No way, that's just bull

Hi guys, welcome back to my channel.

You saw the title, so there's no beating around  the bush, there are hundreds if not thousands  

of 55 55-plus communities popping up all over  the nation and I'm here to give you the dirt. 

Not that dirt.

You know this past year real  estate has just exploded 

and many people are considering a move whether  it's here to sunny south Florida or somewhere  

else in the country 55 plus or active adult  communities are popping up everywhere. The u.s  

active adult community market is expected to grow  at a compounded annual growth rate of 4.3 percent.

So is a 55 plus community for you? 

Let's find out.

You know looking for a new home takes time energy and money.

Not to mention the searching and  searching and in this market competing and bidding.  

There's lots to consider and one of  the things you need to be considering  

are the rules in a 55 plus community. Every  pud, that is a planned unit development  

has rules and while most of us aren't  real crazy about rules they are necessary. 

and quite frankly you'll be  thankful that there are some.

There's always a reason for the rules. So you're  online shopping around, looking at everything. All  

the fancy websites and everything looks really  cool, kind of like shopping for a new car. Where  

everything's all bright and shiny kind of imagine  yourself driving in the car. Looking really cool  

and you're looking so cool you want to just run  down to the dealership and sign on the dotted  

line. Well, 55 plus communities especially  their websites, they're exactly like that.  

These communities tout beautiful homes, sexy  floor plans and resort style pools.

You know, the carrots, all the bells all the whistles, to get you all excited about living in that community.  

I think a lot of people when they go shopping for  these type of homes in these type of communities  

after they see the website and see the commercial  they're all suffering from a severe case of fomo.

Fear of missing out!

Snap out of it.  You need to look at that situation

without the rose colored glasses.

That's what I'm here for.

so what are the lies?

You can't handle ...

sure you can.

So I thought I'd share what I know about 55 plus communities in order to clear up any misconceptions  that you may have.

There are dozens, if not hundreds of videos online

they talk about 55 plus communities and I've watched a few

and I feel there are some that paint an inaccurate picture.

I'm going to go over some of the biggest lies and you're not  going to believe what the biggest of all is.

All right, let's get down to it. Lie number  one.

55 plus communities are a bad investment.

Well that's just a lie.

Anyone that tells you  that a 55 plus community is a bad investment

has probably never lived in one or  probably never sold one. Maybe  

25 years ago they were a bad investment  but it's much different today.

You know people are living longer today, much  longer the average life expectancy is 79.  

I hope I live past that. Not only are people living  longer they're more active than they ever were  

certainly more active than their parents were. With  modern medicine and an abundance of information  

online about how to stay healthy people are living  their best lives I'm actually one of those people. 

So with everybody living longer, there are no  shortage of old people and the developers know it! 

That's why these active adult communities are  popping up everywhere. Now here in Florida if you  

list your home and it's in an active adult  community, it's going to sell just as fast, for just  

as much, as any other home in a gated community  and in some cases even more. And I can show you  

Look at this beautiful home in Del Webb, 1856  square feet sold this April for 375K.  

Now let's look at a sale in a NONE 55 plus  community in the same area, these are the  

same size homes and they are actually selling  for a little bit less. This one sold for 350K.

I'll give you a second example.

and this one sold for 352,900.00

These communities are rich with amenities which  makes them very attractive and in my area the  

homeowner's fee in a standard gated community is  pretty much the same as one in an active adult  

community which has more to offer. Now that may not  be the case everywhere and you should look at that  

what are you getting for your money? The hoa fee is  not a junk fee, it includes a bunch of services,  

so do a fair comparison. So don't let anybody tell you  they're a poor investment the quality of the home  

and the quality of the neighborhood and what's  inside the neighborhood all play into a value  

of a property and as long as people are  seeking safety and an abundant lifestyle  

these communities will continue to be in demand.

Lie number two. Your kids can't use the property.

That's another lie. Now you need to  look at the specific community rules.  

I can't stress that enough, they are all different,  but there are plenty of communities that are just  

fine and dandy with your kids using the house.  Even when you're not there. Now that's not in  

all cases, again, read the rules. Some 55 plus  communities will require you to be present  

at least at the house, but not all and if I had  to give it a guess it's probably about a 50 50.  

You know these communities are not intended to  be purchased and used um as a vacation rental  

Of course long as your active adult  children act like adults you should be fine.

I know these days that's a tall order. Okay where  things get sticky is if the kids are under 18.  

they do need to be 18 and you do  need to read the rules to find out  

if you need to be there and of course anybody  under the age of 18 needs to be supervised.  

and that would mean your grandkids out of the pool  need to have an adult with them.

typical language might read something like this.

persons who are not  18 years of age or older shall not be permitted to  

use the community property unless under the  supervision of an accompanied by an owner.  

Bottom linen read the rules.

Lie  number three.

You can't rent the house

Now I know I'm gonna sound like a broken  record again, but read the rules. Most homeowners  

associations in an active adult community will  allow you to rent the property with restrictions.  

Obviously you can only rent the  property to somebody who's 55.  

I'm like 110 sure that's a  rule in every community.

Second you're going to have to get the hoa's approval  to lease the property and there's usually  

an application for that.

And while many people may  have dollar signs in their eyes about doing an airbnb

that's not allowed, most of these communities  are going to have a rule that says  

a minimum lease time, it could be an annual lease  of 12 months, it could be a minimum of 30 days or  

in a lot of cases I've seen 90 days, one time  a year, seasonal rental a minimum of 90 days  

So the good news is if this is a seasonal home or  a second home you can offset your carrying costs  

by renting the property out. Don't  let the naysayers discourage you.  

Lie number four. You can't have a pet.

Is that a lie?

Well, in most cases it is. If you are purchasing a  single family home in an active adult communities  

pretty much all of them allow you to have  some type of pet, if you're purchasing a condo  

in a 55-plus communities, that's where they're  very restrictive and I would have to say, probably  

only 50 of them allow pets, it's usually one pet,  under 25 pounds, 20 pounds, that's typical, at least  

half them won't allow any pets.

Now I'm sure,  you're wondering what's the biggest lie of all?

Lie number five. You must be 55 in order  to purchase in the community.

That's a lie.

What!

You don't need to be 55, again  those pesky rules, read them..

Most of them will say that only one  person, on deed, needs to be 55.

Other cases whoever's living in the  property needs to be 55.

If your spouse is 55 and the other is not. you're good

and here's something I'm sure you didn't know.

So in some of the newer communities, you don't  even have to be 55, many of the newer communities

they'll just sell to you. And here is why.

There is a hud rule that says in order for  the community to be classified as a 55 plus  

community 80% of the residents must be at  least 55. 20% don't, now it's a guideline  

not a rule ,so it's really up to the community.  Older communities meaning communities that have  

been around five, six, seven years, ten years  they normally will not sell the property  

to someone who's under the age of 55 because  they don't want to risk their 55 plus status. 

Ao, they normally just it's a flat no. The newer  communities however, they want to sell houses  

so, since they're just starting to establish  the neighborhood they can normally keep the  

numbers in check and they will sell to someone  under the age of 55. So as you can see these  

55 plus communities aren't so scary after all.  There are many people out there will paint them  

as communities with a bunch of "KARENS" and  frankly any community that has a homeowners  

association can have a bunch Karens in them  whether they're 55 plus communities or not.

Any planned unit development, PUD, is going  to have rules, in an age restricted community  

age just just one extra rule that's added,  honestly the rest of the rules are very similar  

to any planned unit development and I've  lived in quite a few. They all have their  

covenants and their rules and you should read  them. Honestly, there are so many benefits to  

living in an active adult community, rules aside,  most people will tell you they enjoy living there.  

Most of these neighborhoods have recreational  centers or clubhouses where you can connect  

with your peers and get involved with fun  activities like art shows, playing cards,  

holiday gatherings, educational classes , the list is quite long. Cocktail hour  

let's not forget that.

I hope you found this information helpful.

if you are considering a 55 plus community I do  have a video on how to pick one out and I will  

pop it up here for you make sure you watch  that, if you have any questions of course I  

will be happy to answer them for you and you can  put your questions below. Are you shopping for a 55  

plus community how many have you looked at I'm  kind of curious, did you look at one, two, three  

put that down below I always liked to find  out, how many communities people actually look  

at before they buy. And of course, if you  learned a little something or enjoy the  

video give it a thumbs up, consider subscribing  if you haven't already done so, I cover topics  

like this all the time and I would love  to have you as part of my youtube channel  

When you subscribe don't forget to hit the bell  it will notify you when I upload a new video.  

My name is Lisa Ammons with 772 living  I want to thank you for spending  

a little bit of your day with me and I hope I  see you on my next neighborhood video, be good.

you