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An age-restricted community is a residential community, often gated, that legally discriminates on the basis of age to limit residency to a majority fraction of older individuals—typically 80% over a set age. The minimum age is frequently set at 55 years old, but it can vary.
Furthermore, most communities stipulate that if anyone under the age of 55 resides in their community, they must live in a household where at least one occupant is 55 or older. Nearly all age-restricted and active adult communities allow people under the age minimum, such as grandchildren, to visit and stay on a limited basis.
A retirement community is a residential community or housing complex designed for older adults who are generally able to care for themselves. Assistance from home care agencies is allowed in some communities, and activities and socialization opportunities are often provided. [ 1 ]
The most infamous 55-plus community, Central Florida’s The Villages, ... Many senior communities also have entrance fees, which is essentially a buy-in and can be quite substantial.
Choosing where to live in retirement can make a big difference in your well-being and financial security. While the majority of retirees stay in the homes that they lived in pre-retirement, over...
If you’re approaching retirement age, the idea of moving to a retirement community can seem like a great option. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: ...
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