Active adult communities are becoming increasingly popular. If you are 55 years old or older you may have heard the term active adult communities or age qualified communities, but what are they? Why are they so popular? How do I select the right community for me?
What is an Active Adult Community?
There are three types of Active Adult Communities, Residential, Continuing Care Retirement Communities (CCRCs), and Rental Retirement Communities.
Residential Communities – The communities can be comprised of single family homes, villas, townhouses, or condominium units. Each unit / home is owned by at least one person that is 55 years of age or older. Legitimate Adult Active Communities, obtain a special exemption from Fair Housing that allows a community to be “age qualified” in order to reside in the community.
We’re in the midst of the longest economic expansion in U.S. history, and economists think there’s still room to grow. A recent survey by the National Association for Business Economics found that experts believe the U.S. economy will remain positive throughout 2020.1
Still, given that recessions are a natural (and necessary) part of a business cycle, we know this period of growth will inevitably end. So you may be wondering … how will an eventual recession impact the real estate market?
Whether you’re a first-time buyer or a seasoned homeowner, shopping for a new home can feel daunting. In fact, 56% of buyers said that “finding the right property” was the most difficult step in the home buying process.1
Buying a home is a significant commitment of both time and money. And a home purchase has the power to improve both your current quality of life and your future financial security, so the stakes are high.
Follow these five steps—and complete the corresponding worksheet offered below—to assess your priorities, streamline your search, and choose your next home with confidence.
The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan’s latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.1
However, if you follow national news, you’ve probably heard speculation that we could be headed toward a recession. Global trade tensions and a slow down in the GDP growth rate has sparked volatility in the stock market, leading to economic uncertainty.
Given these differing signals, you may be wondering: How has the U.S. housing market been impacted? Where is it headed? And more importantly … what does it mean for me?