Orchidflower
Thinks s/he gets paid by the post
- Joined
- Mar 10, 2007
- Messages
- 3,323
Has anyone checked into purchasing in a 55+ active adult community and followed pricing the past couple of years? Please tell me if you have also noticed that--despite the entire country's housing prices going down--the prices in the active adult world haven't gone down at all really. That is one section of the real estate market that really hasn't plummeted. It's a hot idea now.
However, it seems to me that when this baby boom generation starts thinning out that these communities won't be so popular. Of course, that gives this idea about 20 years (or up to 40-50 maybe at most if those born in 1964 go for them) to die out.
After considering this, I am beginning to wonder if buying into a 55+ active adult community is really such a hot idea moneywise. Lifestyle-wise, yes...but for buying a house that lasts that you can pass down then not so much to me. And I have read and reread that the quality of the homes isn't the best often.
Maybe the builder is building not for the long haul. I mean, they don't sound like my old home in innercity Chicago, for instance, where those old brick 2-flats are well over 100 years old now and still going and blowing. Those puppies were built to last and have really well--and escalating in price still like crazy (i.e., from $70K when I sold it in 1982 to about $535K today).
Anyone put more thought into this than I have and have a great opinion on if this is a wise purchase for the long haul or not? I'm thinking it might be a house that if I live another 30-some years that the house won't be worth all that much to pass on as part of an inheritance. Right? Wrong?
However, it seems to me that when this baby boom generation starts thinning out that these communities won't be so popular. Of course, that gives this idea about 20 years (or up to 40-50 maybe at most if those born in 1964 go for them) to die out.
After considering this, I am beginning to wonder if buying into a 55+ active adult community is really such a hot idea moneywise. Lifestyle-wise, yes...but for buying a house that lasts that you can pass down then not so much to me. And I have read and reread that the quality of the homes isn't the best often.
Maybe the builder is building not for the long haul. I mean, they don't sound like my old home in innercity Chicago, for instance, where those old brick 2-flats are well over 100 years old now and still going and blowing. Those puppies were built to last and have really well--and escalating in price still like crazy (i.e., from $70K when I sold it in 1982 to about $535K today).
Anyone put more thought into this than I have and have a great opinion on if this is a wise purchase for the long haul or not? I'm thinking it might be a house that if I live another 30-some years that the house won't be worth all that much to pass on as part of an inheritance. Right? Wrong?